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

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

Several other equities research analysts also recently weighed in on CLF. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $10.00 price target on shares of Cleveland-Cliffs in a research report on Friday, May 1st. JPMorgan Chase & Co. decreased their price objective on Cleveland-Cliffs from $13.00 to $10.00 and set a “neutral” rating for the company in a report on Wednesday, July 15th. Glj Research raised Cleveland-Cliffs from a “sell” rating to a “hold” rating and boosted their price objective for the company from $9.03 to $15.01 in a report on Tuesday, June 9th. Citigroup restated a “positive” rating on shares of Cleveland-Cliffs in a research note on Friday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cleveland-Cliffs in a report on Tuesday. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $11.80.

Cleveland-Cliffs Price Performance

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

Cleveland-Cliffs (NYSE:CLF) last announced its quarterly earnings data 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 6.42% and a negative return on equity of 15.48%. The business had revenue of $5.23 billion during the quarter, compared to analysts’ expectations of $5.15 billion. During the same period in the previous year, the business posted ($0.50) EPS. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. On average, sell-side analysts forecast that Cleveland-Cliffs will post -0.15 EPS for the current year.

Insider Transactions at Cleveland-Cliffs

In related news, EVP Celso L. Goncalves, Jr. sold 214,308 shares of the firm’s stock in a transaction 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 owned 184,542 shares in the company, valued at approximately $2,474,708.22. This trade represents a 53.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.95% of the company’s stock.

Institutional Investors Weigh In On Cleveland-Cliffs

Hedge funds have recently modified their holdings of the company. Assenagon Asset Management S.A. boosted 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 increased its stake in shares of Cleveland-Cliffs by 60.0% in the 2nd 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 acquired a new position in Cleveland-Cliffs in the 2nd quarter worth about $545,000. Versant Capital Management Inc raised its holdings in Cleveland-Cliffs by 24.3% in the 2nd quarter. Versant Capital Management Inc now owns 8,243 shares of the mining company’s stock worth $77,000 after purchasing an additional 1,614 shares during the period. Finally, NewEdge Advisors LLC boosted its position in 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 purchasing an additional 24,868 shares in the last quarter. 67.68% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Cleveland-Cliffs

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.