Cleveland-Cliffs Inc. operates as a flat-rolled steel producer in North America. It also manufactures iron ore pellets. The company is vertically integrated from mined raw materials and direct reduced iron to primary steelmaking and downstream finishing, stamping, tooling, and tubing. It serves a range of markets through offering of flat-rolled steel products and supplies steel to the automotive industry. The company was formerly known as Cliffs Natural Resources Inc. and changed its name to Cleveland-Cliffs Inc. in August 2017. Cleveland-Cliffs Inc. was founded in 1847 and is headquartered in Cleveland, Ohio.
IPO Year:
Exchange: NYSE
Website: clevelandcliffs.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 10/21/2025 | $11.00 | Equal Weight → Underweight | Wells Fargo |
| 8/14/2025 | $10.00 | Equal Weight | Wells Fargo |
| 7/22/2025 | $14.00 | Sector Weight → Overweight | KeyBanc Capital Markets |
| 5/29/2025 | $6.00 | Buy → Hold | Jefferies |
| 12/2/2024 | $16.00 | Buy | Goldman |
| 8/27/2024 | $16.50 | Neutral → Buy | Seaport Research Partners |
| 6/11/2024 | $23.00 → $17.00 | Overweight → Neutral | JP Morgan |
| 5/20/2024 | $22.00 | Buy | Jefferies |
| 4/9/2024 | $18.00 | Peer Perform → Underperform | Wolfe Research |
| 3/13/2024 | $22.00 | Buy → Neutral | Citigroup |
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Cleveland-Cliffs Inc. (NYSE:CLF) is pleased to announce that POSCO, Korea's largest steelmaker and the world's third largest steelmaker outside of China, is its strategic partner under the previously disclosed transformative Memorandum of Understanding. The MoU between the two companies was executed on September 17, 2025. With the recent completion of the new U.S. and Korea trade agreement, cooperation between the two nations' industrial sectors will be further reinforced by the POSCO-Cliffs partnership. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251029291835/en/Sungwon Shin of POSCO and Celso Goncalves of Cliffs and other m
Cleveland-Cliffs Inc. (NYSE:CLF) ("Cliffs") announced today the pricing of its underwritten public offering (the "Offering") of 75,000,000 common shares, par value $0.125 per share (the "Common Shares"), for expected gross proceeds of $964 million, before discounts and expenses. In addition, Cliffs has also granted the underwriter a 30-day option to purchase up to an additional 11,250,000 Common Shares. The Offering is expected to close on October 31, 2025, subject to the satisfaction of customary closing conditions. Cliffs intends to use the net proceeds from the Offering for the repayment of borrowings under its asset-based credit facility, with any remaining net proceeds for general co
Cleveland-Cliffs Inc. (NYSE:CLF) ("Cliffs") announced today that it has commenced an underwritten public offering (the "Offering") of 75,000,000 of its common shares, par value $0.125 per share (the "Common Shares"). In addition, Cliffs intends to grant the underwriter a 30-day option to purchase up to an additional 11,250,000 Common Shares. Cliffs intends to use the net proceeds from the Offering for the repayment of borrowings under its asset-based credit facility, with any remaining net proceeds for general corporate purposes. UBS Securities LLC is acting as underwriter for the Offering and proposes to offer the Common Shares from time to time for sale in one or more transactions on
Cleveland-Cliffs Inc. (NYSE:CLF) announced today that it has successfully completed a production trial in collaboration with a major automotive OEM, in which Cleveland-Cliffs' exposed steel parts were stamped with no defects using the OEM's existing aluminum-forming equipment. The trial marks a significant milestone in demonstrating that Cliffs steel can effectively replace aluminum in critical automotive applications without the need for costly retooling. This accomplishment is a major breakthrough in the wake of recent major disruptions, presumably long-lasting, in the aluminum supply chain. This achievement was made possible through Cliffs' industry-leading technical service and applic
Cleveland-Cliffs Inc. (NYSE:CLF) today reported third-quarter results for the period ended September 30, 2025. Third-Quarter Consolidated Results Steel shipments of 4.0 million net tons Revenues of $4.7 billion GAAP net loss of $234 million and Adjusted net loss1 of $223 million, or $0.45 per diluted share Adjusted EBITDA2 of $143 million Liquidity of $3.1 billion as of September 30, 2025 Third-quarter 2025 consolidated revenues were $4.7 billion, compared to $4.9 billion in the second quarter of 2025. For the third quarter of 2025, the Company recorded a GAAP net loss of $234 million and adjusted net loss1 of $223 million, or $0.45 per diluted share. This compares to a
Cleveland-Cliffs Inc. (NYSE:CLF) ("Cliffs") announced today that it has upsized and priced an additional $275 million aggregate principal amount of Senior Unsecured Guaranteed Notes due 2034 (the "Additional Notes") in an offering (the "Additional Notes Offering") that is exempt from the registration requirements of the Securities Act of 1933 (the "Securities Act"). The Additional Notes will be issued at a price of 102.750% of their principal amount, an implied yield of 6.992%. The Additional Notes will be guaranteed on a senior unsecured basis by Cliffs' material direct and indirect wholly-owned domestic subsidiaries, other than certain excluded subsidiaries. The Additional Notes Offering
Cleveland-Cliffs Inc. (NYSE:CLF) ("Cliffs") announced today that it intends to offer to sell, subject to market and other conditions, an additional $200 million aggregate principal amount of Senior Unsecured Guaranteed Notes due 2034 (the "Additional Notes") in an offering (the "Additional Notes Offering") that is exempt from the registration requirements of the Securities Act of 1933 (the "Securities Act"). The Additional Notes will be an issuance of Cliffs' existing 7.625% Senior Unsecured Guaranteed Notes due 2034 and will be issued as additional notes under the indenture dated as of September 8, 2025 pursuant to which Cliffs previously issued $850 million aggregate principal amount of 7
Cleveland-Cliffs Inc. (NYSE:CLF) will announce its third-quarter 2025 earnings results before the U.S. market open on Monday, October 20, 2025. The Company invites interested parties to listen to a live broadcast of a conference call with securities analysts and institutional investors to discuss the results on the same morning, October 20, 2025, at 8:30 am ET. The call can be accessed at www.clevelandcliffs.com and will also be archived and available for replay at that address. About Cleveland-Cliffs Inc. Cleveland-Cliffs is a leading North America-based steel producer with focus on value-added sheet products, particularly for the automotive industry. The Company is vertically integr
Cleveland-Cliffs Inc. (NYSE:CLF) reported that on September 3, 2025, United States Steel Corporation, Nippon Steel Corporation, and Nippon Steel North America, Inc. (collectively, "Plaintiffs") voluntarily dismissed with prejudice their lawsuit against Cleveland-Cliffs Inc. ("Cliffs"), Cliffs' Chairman, President and CEO, Lourenco Goncalves and the International President of the United Steelworkers, David McCall (collectively, "Defendants"), which was originally filed by the Plaintiffs on January 6, 2025. The related settlement agreement among the parties provided for the full release of the Defendants and involved no exchange of financial consideration. Other terms of the settlement agreem
Cleveland-Cliffs Inc. (NYSE:CLF) ("Cliffs") announced today that it has upsized and priced $850 million aggregate principal amount of Senior Unsecured Guaranteed Notes due 2034 (the "Notes") in an offering that is exempt from the registration requirements of the Securities Act of 1933 (the "Securities Act"). The Notes will bear interest at an annual rate of 7.625% and will be issued at par. The Notes will be guaranteed on a senior unsecured basis by Cliffs' material direct and indirect wholly-owned domestic subsidiaries, other than certain excluded subsidiaries. The Notes offering is expected to close on September 8, 2025, subject to the satisfaction of customary closing conditions. Cliff
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Wells Fargo downgraded Cleveland-Cliffs from Equal Weight to Underweight and set a new price target of $11.00
Wells Fargo initiated coverage of Cleveland-Cliffs with a rating of Equal Weight and set a new price target of $10.00
KeyBanc Capital Markets upgraded Cleveland-Cliffs from Sector Weight to Overweight and set a new price target of $14.00
Jefferies downgraded Cleveland-Cliffs from Buy to Hold and set a new price target of $6.00
Goldman initiated coverage of Cleveland-Cliffs with a rating of Buy and set a new price target of $16.00
Seaport Research Partners upgraded Cleveland-Cliffs from Neutral to Buy and set a new price target of $16.50
JP Morgan downgraded Cleveland-Cliffs from Overweight to Neutral and set a new price target of $17.00 from $23.00 previously
Jefferies initiated coverage of Cleveland-Cliffs with a rating of Buy and set a new price target of $22.00
Wolfe Research downgraded Cleveland-Cliffs from Peer Perform to Underperform and set a new price target of $18.00
Citigroup downgraded Cleveland-Cliffs from Buy to Neutral and set a new price target of $22.00
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Cleveland-Cliffs Inc. (NYSE:CLF) today announced a company-wide "Buy American" incentive for its nearly 30,000 employees. During the calendar year 2025, any Cleveland-Cliffs employee who purchases or leases a new American-built vehicle with substantial Cliffs' steel content will receive a $1,000 cash bonus in connection with the purchase. Lourenco Goncalves, Cliffs' Chairman, President and CEO said: "We are pleased to do our part to support President Trump's long-term vision of bringing manufacturing back to the United States. In order to be a global superpower and Make America Great Again, companies need to produce things in America and people need to buy things that are made in America.
Cleveland-Cliffs Inc. (NYSE:CLF) ("Cliffs") announced today that it has appointed Jane M. Cronin to its Board of Directors, effective immediately. Ms. Cronin is Senior Vice President – Finance of The Sherwin-Williams Company, a global manufacturer, developer, distributor and seller of paint, coatings and related products. Since joining Sherwin-Williams in 1989, Ms. Cronin held roles of increasing responsibility with her most recent position as Senior Vice President – Enterprise Finance. She also held the positions of Senior Vice President – Corporate Controller, Vice President-Internal Audit and Loss Prevention and the Vice President-Controller Diversified Brands division. Presently, Ms.
GrafTech International Ltd. (NYSE:EAF) ("GrafTech" or the "Company") announced today that the Company's Board of Directors (the "Board") has appointed Rory O'Donnell to the position of Chief Financial Officer and Senior Vice President of the Company, effective September 3, 2024. Mr. O'Donnell will serve as a member of the Company's executive leadership team and report directly to Chief Executive Officer and President Timothy Flanagan. He will be responsible for overseeing all financial aspects of the Company. "I am pleased to announce Rory's appointment as the Company's Chief Financial Officer and welcome him to GrafTech," said Timothy Flanagan, Chief Executive Officer and President. "Wit
Cleveland-Cliffs (NYSE:CLF) announced today that it has appointed renowned private equity executive, labor and political advisor Ron Bloom to its Board of Directors, effective immediately. With the addition of Mr. Bloom, the Cleveland-Cliffs' Board of Directors is now comprised of eleven members, of which ten are independent directors. After graduating with Distinction from the Harvard Business School, Ron Bloom started his career as an investment banker at Lazard, a firm he later re-joined as Vice Chairman, U.S. Investment Banking. After his first tenure at Lazard, Mr. Bloom represented the interests of organized labor, including serving as Special Assistant to the President of the Unite
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Cleveland-Cliffs Inc. (NYSE:CLF) today reported third-quarter results for the period ended September 30, 2025. Third-Quarter Consolidated Results Steel shipments of 4.0 million net tons Revenues of $4.7 billion GAAP net loss of $234 million and Adjusted net loss1 of $223 million, or $0.45 per diluted share Adjusted EBITDA2 of $143 million Liquidity of $3.1 billion as of September 30, 2025 Third-quarter 2025 consolidated revenues were $4.7 billion, compared to $4.9 billion in the second quarter of 2025. For the third quarter of 2025, the Company recorded a GAAP net loss of $234 million and adjusted net loss1 of $223 million, or $0.45 per diluted share. This compares to a
Cleveland-Cliffs Inc. (NYSE:CLF) will announce its third-quarter 2025 earnings results before the U.S. market open on Monday, October 20, 2025. The Company invites interested parties to listen to a live broadcast of a conference call with securities analysts and institutional investors to discuss the results on the same morning, October 20, 2025, at 8:30 am ET. The call can be accessed at www.clevelandcliffs.com and will also be archived and available for replay at that address. About Cleveland-Cliffs Inc. Cleveland-Cliffs is a leading North America-based steel producer with focus on value-added sheet products, particularly for the automotive industry. The Company is vertically integr
Cleveland-Cliffs Inc. (NYSE:CLF) today reported second-quarter results for the period ended June 30, 2025. Second-Quarter Consolidated Results Record steel shipments of 4.3 million net tons Revenues of $4.9 billion GAAP net loss of $470 million, inclusive of $323 million of previously disclosed non-recurring charges related to idled facilities Adjusted net loss1 of $247 million, or $0.50 per diluted share Adjusted EBITDA2 of $97 million, a $271 million improvement quarter-over-quarter Steel unit cost reductions of $15 per net ton compared to the first quarter of 2025 Liquidity of $2.7 billion as of June 30, 2025 Second-quarter 2025 consolidated revenues were $4.9 b
Cleveland-Cliffs Inc. (NYSE:CLF) will announce its second-quarter 2025 earnings results before the U.S. market open on Monday, July 21, 2025. The Company invites interested parties to listen to a live broadcast of a conference call with securities analysts and institutional investors to discuss the results on the same morning, July 21, 2025, at 8:30 am ET. The call can be accessed at www.clevelandcliffs.com and will also be archived and available for replay at that address. About Cleveland-Cliffs Inc. Cleveland-Cliffs is a leading North America-based steel producer with focus on value-added sheet products, particularly for the automotive industry. The Company is vertically integrated
Cleveland-Cliffs Inc. (NYSE:CLF) today reported first-quarter results for the period ended March 31, 2025. First-Quarter Consolidated Results First-quarter 2025 consolidated revenues were $4.6 billion, compared to $4.3 billion in the fourth quarter of 2024. For the first quarter of 2025, the Company recorded a GAAP net loss of $483 million, or $1.00 per diluted share, with an adjusted net loss1 of $456 million, or $0.92 per diluted share. This compares to a fourth quarter 2024 GAAP net loss of $434 million, or $0.92 per diluted share, with an adjusted net loss1 of $332 million, or $0.68 per diluted share. For the first quarter of 2025, the Company reported an Adjusted EBITDA2 loss of $1
Cleveland-Cliffs Inc. (NYSE:CLF) will announce its first-quarter 2025 earnings results after the U.S. market close on Wednesday, May 7, 2025. The Company invites interested parties to listen to a live broadcast of a conference call with securities analysts and institutional investors to discuss the results on Thursday, May 8, 2025, at 8:30 am ET. The call can be accessed at www.clevelandcliffs.com and will also be archived and available for replay at that address. About Cleveland-Cliffs Inc. Cleveland-Cliffs is a leading North America-based steel producer with focus on value-added sheet products, particularly for the automotive industry. The Company is vertically integrated from the minin
Cleveland-Cliffs Inc. (NYSE:CLF) today reported full-year and fourth-quarter results for the period ended December 31, 2024. Full-Year Consolidated Results Full-year 2024 consolidated revenues were $19.2 billion, compared to the prior year's consolidated revenues of $22.0 billion. For the full-year 2024, the Company recorded a GAAP net loss of $708 million, or $1.57 per diluted share, with adjusted net loss2 of $351 million, or $0.73 per diluted share. This compares to 2023 net income of $450 million, or $0.78 per diluted share, with adjusted net income2 of $545 million, or $1.07 per diluted share. For the full-year 2024, Adjusted EBITDA1 was $780 million, compared to $1.9 billion in
Aims to Install an Independent Slate and Legendary CEO Committed to Abandoning the Blocked Nippon Deal, Collecting the $565 Million Breakup Fee and Making U.S. Steel Great Again in the Public Market Believes the Board's Decision to Pursue a Risky Sale to Nippon – an Overseas Bidder Paying Just $1 Per Share More Than the Top Domestic Bidder – Has Led to a Dead End Contends the Board and CEO David Burritt, Who Collectively Stood to Receive $100+ Million if the Sale Proceeded, Prioritized Deal Advocacy at the Expense of Financial Health and Operational Performance Expresses Concern About the Board and Mr. Burritt Continuing to Devote Immense Resources to Litigation Despite Legal Headwind
Cleveland-Cliffs Inc. (NYSE:CLF) ("Cliffs") will announce its full-year and fourth-quarter 2024 earnings results after the U.S. market close on Monday, February 24, 2025. The Company invites interested parties to listen to a live broadcast of a conference call with securities analysts and institutional investors to discuss the results on Tuesday, February 25, 2025, at 8:30 am ET. The call can be accessed at www.clevelandcliffs.com and will also be archived and available for replay at that address. About Cleveland-Cliffs Inc. Cleveland-Cliffs is a leading North America-based steel producer with focus on value-added sheet products, particularly for the automotive industry. The Company i
Cleveland-Cliffs Inc. (NYSE:CLF) today reported third-quarter results for the period ended September 30, 2024. Third-Quarter 2024 Highlights Revenues of $4.6 billion Steel shipments of 3.8 million net tons GAAP net loss of $230 million and adjusted net loss1 of $156 million Adjusted EBITDA2 of $124 million Does not include Stelco's third-quarter adjusted EBITDA3 of US$64 million and adjusted EBITDA3 margin of 13% Liquidity of $3.8 billion as of September 30, 2024 Third-quarter 2024 revenues were $4.6 billion, compared to $5.1 billion in the second quarter of 2024. For the third quarter of 2024, the Company recorded a GAAP net loss of $0.52 per diluted share to Cliffs sharehol
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