Cleveland-Cliffs (NYSE:CLF) Price Target Raised to $11.00 at Wells Fargo & Company

Cleveland-Cliffs (NYSE:CLF) had its target price hoisted by Wells Fargo & Company from $9.00 to $11.00 in a research report released on Friday,Benzinga reports. They currently have an equal weight rating on the mining company’s stock.

A number of other equities analysts have also recently issued reports on the stock. Glj Research raised shares of Cleveland-Cliffs from a “sell” rating to a “hold” rating and raised their target price for the stock from $9.03 to $15.01 in a report on Tuesday, June 9th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $10.00 target price on shares of Cleveland-Cliffs in a report on Friday, May 1st. JPMorgan Chase & Co. dropped 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. Weiss Ratings reissued a “sell (d-)” rating on shares of Cleveland-Cliffs in a report on Tuesday. Finally, Bank of America reduced their price objective on Cleveland-Cliffs from $14.00 to $11.50 and set a “neutral” rating for the company in a research report on Thursday, July 9th. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $11.86.

Cleveland-Cliffs Stock Up 8.9%

Shares of NYSE:CLF opened at $11.94 on Friday. The stock has a market capitalization of $6.81 billion, a price-to-earnings ratio of -7.37 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 company’s fifty day moving average is $11.29 and its two-hundred day moving average is $11.03. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.64 and a current ratio of 1.89.

Cleveland-Cliffs (NYSE:CLF) last posted its quarterly earnings results on Thursday, July 23rd. The mining company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.01. Cleveland-Cliffs had a negative net margin of 4.56% and a negative return on equity of 13.37%. The business had revenue of $5.23 billion during the quarter, compared to analyst estimates of $5.15 billion. During the same period in the previous year, the business posted ($0.50) EPS. The company’s quarterly revenue was up 5.9% on a year-over-year basis. Equities analysts anticipate that Cleveland-Cliffs will post -0.15 EPS for the current year.

Insider Buying and Selling

In other Cleveland-Cliffs news, EVP Celso L. Goncalves, Jr. sold 214,308 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $2,474,708.22. This represents a 53.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.95% of the company’s stock.

Hedge Funds Weigh In On Cleveland-Cliffs

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Cleveland-Cliffs by 13.4% in the 4th quarter. Vanguard Group Inc. now owns 54,391,397 shares of the mining company’s stock valued at $722,318,000 after acquiring an additional 6,447,462 shares during the period. State Street Corp grew its stake in shares of Cleveland-Cliffs by 14.2% in the fourth quarter. State Street Corp now owns 29,278,156 shares of the mining company’s stock worth $388,814,000 after purchasing an additional 3,632,150 shares in the last quarter. Castle Hook Partners LP grew its stake in shares of Cleveland-Cliffs by 572.4% in the fourth quarter. Castle Hook Partners LP now owns 18,083,029 shares of the mining company’s stock worth $240,143,000 after purchasing an additional 15,393,507 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Cleveland-Cliffs by 6.4% during the first quarter. Dimensional Fund Advisors LP now owns 15,489,207 shares of the mining company’s stock valued at $130,873,000 after purchasing an additional 925,031 shares during the period. Finally, Maple Rock Capital Partners Inc. increased its holdings in shares of Cleveland-Cliffs by 90.1% during the fourth quarter. Maple Rock Capital Partners Inc. now owns 12,358,230 shares of the mining company’s stock valued at $164,117,000 after purchasing an additional 5,855,830 shares during the period. 67.68% of the stock is currently owned by institutional investors and hedge funds.

Cleveland-Cliffs News Roundup

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.

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.