Cleveland-Cliffs (NYSE:CLF) Upgraded at Glj Research

Glj Research upgraded shares of Cleveland-Cliffs (NYSE:CLF) from a hold rating to a buy rating in a report issued on Friday morning, Marketbeat.com reports. They currently have $15.60 price target on the mining company’s stock, up from their previous price target of $15.01.

A number of other analysts also recently commented on the stock. Bank of America dropped their price target on shares of Cleveland-Cliffs from $14.00 to $11.50 and set a “neutral” rating on the stock in a research report on Thursday, July 9th. JPMorgan Chase & Co. lowered their price target on Cleveland-Cliffs from $13.00 to $10.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 15th. Wells Fargo & Company restated a “positive” rating on shares of Cleveland-Cliffs in a report on Friday. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $10.00 target price on shares of Cleveland-Cliffs in a research note on Friday, May 1st. Finally, Barclays boosted their price target on shares of Cleveland-Cliffs from $9.00 to $10.00 and gave the stock an “underweight” rating in a research report on Friday. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $11.86.

Cleveland-Cliffs Stock Performance

Shares of CLF stock opened at $11.94 on Friday. Cleveland-Cliffs has a 12-month low of $7.73 and a 12-month high of $16.70. The firm has a market capitalization of $6.81 billion, a price-to-earnings ratio of -7.37 and a beta of 2.13. The business has a 50 day simple moving average of $11.29 and a 200 day simple moving average of $11.01. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.89 and a quick ratio of 0.63.

Cleveland-Cliffs (NYSE:CLF) last released its quarterly earnings results on Thursday, July 23rd. The mining company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate 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 13.37% and a negative net margin of 4.56%.The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.50) earnings per share. On average, equities research analysts anticipate that Cleveland-Cliffs will post -0.15 EPS for the current year.

Insider Activity at Cleveland-Cliffs

In related news, EVP Celso L. Goncalves, Jr. sold 214,308 shares of the stock in a transaction on 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 completion of the transaction, the executive vice president owned 184,542 shares in the company, valued at $2,474,708.22. This trade represents a 53.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.95% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cleveland-Cliffs

Hedge funds have recently made changes to their positions in the company. Assenagon Asset Management S.A. boosted its stake in Cleveland-Cliffs by 208.2% in 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 purchasing an additional 4,067,994 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Cleveland-Cliffs by 60.0% in the second quarter. GAMMA Investing LLC now owns 12,149 shares of the mining company’s stock valued at $114,000 after purchasing an additional 4,557 shares in the last quarter. Moody National Bank Trust Division purchased a new stake in shares of Cleveland-Cliffs in the second quarter valued at $545,000. Versant Capital Management Inc boosted its position in shares of Cleveland-Cliffs by 24.3% in the second quarter. Versant Capital Management Inc now owns 8,243 shares of the mining company’s stock worth $77,000 after buying an additional 1,614 shares during the period. Finally, NewEdge Advisors LLC boosted its position in shares of Cleveland-Cliffs by 25.2% in 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. Hedge funds and other institutional investors own 67.68% of the company’s stock.

Cleveland-Cliffs News Summary

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

• Positive Sentiment: Cleveland-Cliffs posted Q2 results that beat expectations on both earnings and revenue, helped by stronger steel pricing that improved margins even as shipment volumes declined. CLF Q2 Earnings and Sales Beat Estimates on Higher Steel Pricing
• Positive Sentiment: The company reported a sharp jump in adjusted EBITDA, returned to positive free cash flow, and gave a notably optimistic outlook, with investors focusing on the prospect of stronger profitability ahead. Cleveland-Cliffs Inc (CLF) Q2 2026 Earnings Call Highlights: Strong EBITDA Growth and Positive …
• Positive Sentiment: Several analysts turned more constructive, including Glj Research upgrading the stock to buy and lifting its price target, which added to the bullish sentiment around the name. Cleveland-Cliffs upgraded by Glj Research
• Positive Sentiment: Trading activity was also supportive, with reports of unusual call-option buying and multiple articles highlighting CLF as a momentum stock with value appeal.
• Neutral Sentiment: Wells Fargo raised its price target but kept an “equal weight” rating, suggesting some upside remains but not a full endorsement of the rally. Wells Fargo price target raised on CLF
• Neutral Sentiment: The company also announced a leadership change, promoting CFO Celso Goncalves to President and CFO, which is more of a governance update than a direct earnings driver. Cleveland-Cliffs Announces Promotion of Chief Financial Officer
• Negative Sentiment: Not all analyst commentary was supportive: one report said brokerage consensus remains “Reduce,” and another noted Wells Fargo’s new target is still below the current share price, reflecting lingering skepticism about the stock’s valuation and durability of the rebound.

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.