Wells Fargo & Company Issues Positive Forecast for Cleveland-Cliffs (NYSE:CLF) Stock Price

Cleveland-Cliffs (NYSE:CLF) had its price objective upped by stock analysts at Wells Fargo & Company from $9.00 to $11.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the mining company’s stock. Wells Fargo & Company‘s price objective points to a potential downside of 0.31% from the stock’s previous close.

A number of other analysts have also issued reports on the stock. The Goldman Sachs Group reissued a “neutral” rating and set a $10.00 target price on shares of Cleveland-Cliffs in a research note on Friday, May 1st. Citigroup reiterated a “positive” rating on shares of Cleveland-Cliffs in a report on Friday. Argus raised shares of Cleveland-Cliffs to a “hold” rating in a research report on Monday, April 6th. Bank of America dropped their target price on shares of Cleveland-Cliffs from $14.00 to $11.50 and set a “neutral” rating on the stock in a research note on Thursday, July 9th. Finally, JPMorgan Chase & Co. reduced their price objective on Cleveland-Cliffs from $13.00 to $10.00 and set a “neutral” rating on the stock in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $11.80.

Cleveland-Cliffs Trading Up 16.8%

Shares of NYSE CLF opened at $11.03 on Friday. Cleveland-Cliffs has a fifty-two week low of $7.73 and a fifty-two week high of $16.70. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.64 and a current ratio of 2.02. The company has a market cap of $6.29 billion, a price-to-earnings ratio of -4.72 and a beta of 2.13. The business’s 50 day moving average price is $11.26 and its 200-day moving average price is $11.02.

Cleveland-Cliffs (NYSE:CLF) last posted its quarterly earnings data on Thursday, July 23rd. The mining company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.01. The company had revenue of $5.23 billion during the quarter, compared to analysts’ expectations of $5.15 billion. Cleveland-Cliffs had a negative return on equity of 15.48% and a negative net margin of 6.42%.During the same quarter in the previous year, the business earned ($0.50) EPS. Cleveland-Cliffs’s revenue was up 5.9% compared to the same quarter last year. On average, sell-side analysts expect that Cleveland-Cliffs will post -0.15 earnings per share for the current year.

Insiders Place Their Bets

In other Cleveland-Cliffs news, EVP Celso L. Goncalves, Jr. sold 214,308 shares of Cleveland-Cliffs stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $13.41, for a total value of $2,873,870.28. Following the transaction, the executive vice president owned 184,542 shares in the company, valued at $2,474,708.22. The trade was a 53.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.95% of the stock is currently owned by insiders.

Institutional Trading of Cleveland-Cliffs

A number of institutional investors have recently modified their holdings of the company. Assenagon Asset Management S.A. raised its stake in shares of Cleveland-Cliffs by 208.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 6,021,829 shares of the mining company’s stock worth $56,545,000 after acquiring an additional 4,067,994 shares in the last quarter. GAMMA Investing LLC grew its holdings in Cleveland-Cliffs by 60.0% in the second quarter. GAMMA Investing LLC now owns 12,149 shares of the mining company’s stock worth $114,000 after purchasing an additional 4,557 shares during the last quarter. Moody National Bank Trust Division acquired a new stake in shares of Cleveland-Cliffs in the 2nd quarter worth $545,000. Versant Capital Management Inc raised its position in shares of Cleveland-Cliffs by 24.3% in the 2nd quarter. Versant Capital Management Inc now owns 8,243 shares of the mining company’s stock valued at $77,000 after purchasing an additional 1,614 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its stake in shares of Cleveland-Cliffs by 25.2% during the first quarter. NewEdge Advisors LLC now owns 123,427 shares of the mining company’s stock worth $1,043,000 after buying an additional 24,868 shares during the period. 67.68% of the stock is currently owned by institutional investors.

Cleveland-Cliffs News Summary

Here are the key news stories impacting Cleveland-Cliffs this week:

• Positive Sentiment: Cleveland-Cliffs said Q2 revenue came in at $5.23 billion versus $5.15 billion expected, and EPS of -$0.20 beat estimates of -$0.21, showing a modest earnings upside versus forecasts. Cleveland-Cliffs (CLF) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
• Positive Sentiment: Management highlighted a sharp improvement in profitability, including a much smaller net loss, higher adjusted EBITDA, and positive free cash flow, which investors viewed as evidence the turnaround is gaining traction. Cleveland-Cliffs Inc (CLF) Q2 2026 Earnings Call Highlights: Strong EBITDA Growth and Positive …
• Positive Sentiment: CEO Lourenco Goncalves struck an upbeat tone, saying the company expects its strongest second-half performance since 2021, with the third-quarter outlook helping outweigh the earnings loss. CLF Stock Posts Biggest Gain Of 2026 After CEO Forecasts Strongest Second-Half Performance Since 2021
• Positive Sentiment: B. Riley Securities initiated or reiterated a Buy rating, adding another bullish catalyst for sentiment. Cleveland-Cliffs (CLF) Receives a Buy from B. Riley Securities
• Neutral Sentiment: The company also promoted CFO Celso Goncalves to President and appointed him to the board, a governance/leadership change that is unlikely to affect the stock immediately. Cleveland-Cliffs Announces Promotion of Chief Financial Officer Celso Goncalves from Executive Vice President to President and Appointment to Board of Directors
• Negative Sentiment: Despite the earnings-driven rally, broker sentiment remains cautious overall, with one report saying Cleveland-Cliffs now carries a consensus “Reduce” rating from analysts. Cleveland-Cliffs Inc. (NYSE:CLF) Given Consensus Rating of “Reduce” by Brokerages

Cleveland-Cliffs Company Profile

Cleveland-Cliffs Inc is a leading North American producer of iron ore pellets and flat-rolled steel products. Tracing its roots to 1847, the company has evolved from an iron-ore mining concern in the Great Lakes region into a fully integrated steelmaker. Today, Cleveland-Cliffs operates iron ore mining complexes in Michigan and Minnesota as well as steelmaking and finishing facilities across the United States.

The company’s integrated platform begins with direct control of key raw materials, including iron ore and scrap, and extends through every stage of steel production.