Cleveland-Cliffs Sees Unusually Large Options Volume (NYSE:CLF)

Cleveland-Cliffs Inc. (NYSE:CLF) was the recipient of unusually large options trading on Thursday. Investors purchased 86,150 call options on the stock. This represents an increase of 77% compared to the average volume of 48,730 call options.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Glj Research upgraded shares of Cleveland-Cliffs from a “sell” rating to a “hold” rating and raised their price target for the stock from $9.03 to $15.01 in a research report on Tuesday, June 9th. Argus raised shares of Cleveland-Cliffs to a “hold” rating in a research report on Monday, April 6th. JPMorgan Chase & Co. dropped their price objective on shares of Cleveland-Cliffs from $13.00 to $10.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cleveland-Cliffs in a report on Friday, April 24th. Finally, Barclays started coverage on Cleveland-Cliffs in a research note on Thursday, May 21st. They issued an “underweight” rating and a $9.00 target price for the company. Nine research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $11.50.

Insider Buying and Selling

In other Cleveland-Cliffs news, EVP Celso L. Goncalves, Jr. sold 214,308 shares of Cleveland-Cliffs stock in a transaction on Friday, June 5th. The shares were 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 of the company’s stock, 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 SEC, which is available through this link. 0.95% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CLF. Assenagon Asset Management S.A. increased its stake in shares of Cleveland-Cliffs by 208.2% in the second quarter. Assenagon Asset Management S.A. now owns 6,021,829 shares of the mining company’s stock valued at $56,545,000 after purchasing an additional 4,067,994 shares during the period. GAMMA Investing LLC raised its holdings in shares of Cleveland-Cliffs by 60.0% during the second quarter. GAMMA Investing LLC now owns 12,149 shares of the mining company’s stock valued at $114,000 after buying an additional 4,557 shares during the last quarter. Moody National Bank Trust Division acquired a new position in shares of Cleveland-Cliffs during the second quarter worth approximately $545,000. Versant Capital Management Inc boosted its position in shares of Cleveland-Cliffs by 24.3% during 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 grew its holdings in Cleveland-Cliffs by 25.2% in the 1st 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 in the last quarter. 67.68% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Cleveland-Cliffs

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

• Positive Sentiment: Cleveland-Cliffs reported Q2 EPS of -$0.20, slightly better than analysts expected, and revenue of $5.23 billion, also above estimates, signaling a modest earnings beat. Cleveland-Cliffs Inc (CLF) Q2 2026 Earnings Call Highlights
• Positive Sentiment: Management said EBITDA tripled from the prior quarter and the company returned to positive free cash flow, which investors typically view as a sign of improving operating momentum. Cleveland-Cliffs Inc (CLF) Q2 2026 Earnings Call Highlights
• Positive Sentiment: The company issued a stronger third-quarter forecast, and the CEO said the “progression we have been forecasting is now reality,” reinforcing optimism about a stronger second half. CLF Stock Posts Biggest Gain Of 2026 After CEO Forecasts Strongest Second-Half Performance Since 2021
• Positive Sentiment: B. Riley Securities reiterated a Buy rating, adding analyst support to the post-earnings rally. Cleveland-Cliffs (CLF) Receives a Buy from B. Riley Securities
• Neutral Sentiment: The company also announced a leadership change, promoting CFO Celso Goncalves to President and CFO and adding him to the board, which is mainly an internal governance update. Cleveland-Cliffs Announces Promotion of Chief Financial Officer Celso Goncalves
• Negative Sentiment: Despite the beat, Cleveland-Cliffs still posted a net loss and negative margins, reminding investors that profitability remains a work in progress. Cleveland-Cliffs Reports Second-Quarter 2026 Results

Cleveland-Cliffs Price Performance

Shares of NYSE CLF opened at $11.03 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.02 and a quick ratio of 0.64. The firm has a market capitalization of $6.29 billion, a PE ratio of -4.72 and a beta of 2.13. Cleveland-Cliffs has a 1-year low of $7.73 and a 1-year high of $16.70. The business’s fifty day moving average price is $11.26 and its two-hundred day moving average price is $11.02.

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

About Cleveland-Cliffs

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.