Cleveland-Cliffs (NYSE:CLF) Upgraded to “Buy” 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, MarketBeat reports. They currently have $15.60 price objective on the mining company’s stock, up from their prior price objective of $15.01.

Several other research analysts have also recently weighed in on CLF. The Goldman Sachs Group restated a “neutral” rating and issued a $10.00 price objective on shares of Cleveland-Cliffs in a research report on Friday, May 1st. JPMorgan Chase & Co. lowered their target price on Cleveland-Cliffs from $13.00 to $10.00 and set a “neutral” rating for the company in a research note on Wednesday, July 15th. Argus upgraded Cleveland-Cliffs to a “hold” rating in a research report on Monday, April 6th. Wells Fargo & Company reaffirmed a “positive” rating on shares of Cleveland-Cliffs in a research note on Friday. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $12.50 price target (up from $12.00) on shares of Cleveland-Cliffs in a report on Monday, June 22nd. Two 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 company. According to data from MarketBeat, Cleveland-Cliffs currently has an average rating of “Hold” and a consensus price target of $11.86.

Cleveland-Cliffs Trading Up 8.9%

CLF opened at $11.94 on Friday. Cleveland-Cliffs has a 1-year low of $7.73 and a 1-year high of $16.70. The stock has a market capitalization of $6.81 billion, a PE ratio of -7.37 and a beta of 2.13. The company has a current ratio of 1.89, a quick ratio of 0.64 and a debt-to-equity ratio of 1.32. The firm has a 50-day moving average price of $11.29 and a two-hundred day moving average price of $11.03.

Cleveland-Cliffs (NYSE:CLF) last announced its earnings results on Thursday, July 23rd. The mining company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $5.23 billion for the quarter, compared to analyst estimates of $5.15 billion. During the same period in the prior year, the business earned ($0.50) earnings per share. Cleveland-Cliffs’s quarterly revenue was up 5.9% on a year-over-year basis. As a group, equities analysts anticipate that Cleveland-Cliffs will post -0.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Cleveland-Cliffs news, EVP Celso L. Goncalves, Jr. sold 214,308 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $13.41, for a total transaction of $2,873,870.28. Following the sale, the executive vice president directly owned 184,542 shares in the company, valued at approximately $2,474,708.22. This trade represents a 53.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.95% of the company’s stock.

Institutional Investors Weigh In On Cleveland-Cliffs

Several large investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. lifted its position 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 valued at $56,545,000 after acquiring an additional 4,067,994 shares in the last quarter. GAMMA Investing LLC boosted its stake in Cleveland-Cliffs by 60.0% in the 2nd 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 period. Moody National Bank Trust Division bought a new position in Cleveland-Cliffs during the 2nd quarter worth about $545,000. Versant Capital Management Inc raised its stake 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 period. Finally, NewEdge Advisors LLC raised its stake in shares of Cleveland-Cliffs by 25.2% in the 1st quarter. NewEdge Advisors LLC now owns 123,427 shares of the mining company’s stock valued at $1,043,000 after purchasing an additional 24,868 shares during the period. Institutional investors own 67.68% of the company’s stock.

More Cleveland-Cliffs News

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.