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

Exane BNP Paribas downgraded Cleveland-Cliffs from Neutral to Underperform and set a new price target of $16.50

Morgan Stanley downgraded Cleveland-Cliffs from Overweight to Equal-Weight and set a new price target of $20.00 from $21.50 previously

JP Morgan resumed coverage of Cleveland-Cliffs with a rating of Overweight and set a new price target of $24.00

Argus downgraded Cleveland-Cliffs from Buy to Hold

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

Cleveland-Cliffs Inc. (NYSE:CLF) will announce its third-quarter 2024 earnings results after the U.S. market close on Monday, November 4, 2024. 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, November 5, 2024, 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 th

Cleveland-Cliffs Inc. (NYSE:CLF) today reported second-quarter results for the period ended June 30, 2024. Second-Quarter 2024 Highlights Revenues of $5.1 billion Steel shipments of 4.0 million net tons Net income of $9 million and adjusted net income1 of $50 million Adjusted EPS1 of $0.11 per diluted share Adjusted EBITDA2 of $323 million Net debt3 decrease of $237 million to $3.4 billion Cash flow from operations of $519 million Free cash flow4 of $362 million Repurchased 7.5 million shares Liquidity of $3.7 billion as of June 30, 2024 Second-quarter 2024 revenues were $5.1 billion, compared to $5.2 billion in the first quarter of 2024. For the second

Cleveland-Cliffs Inc. (NYSE:CLF) ("Cliffs" or "the Company") is pleased to announce that it has entered into a definitive agreement to acquire Stelco Holdings Inc. (TSX:STLC) ("Stelco"). The acquisition confirms Cliffs' commitment and leadership in integrated steel production in North America, and also brings an additional 1,800 United Steelworkers ("USW") union employees into Cliffs' workforce. Under the terms of the agreement, Stelco shareholders will receive CAD $60.00 per Stelco common share in cash and 0.454 shares of Cliffs common stock per share of Stelco common stock (or CAD $10.00 per share as of July 12, 2024), representing a total consideration of CAD $70.00 per Stelco share. The

Cleveland-Cliffs Inc. (NYSE:CLF) will announce its second-quarter 2024 earnings results after the U.S. market close on Monday, July 22, 2024. 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, July 23, 2024, 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 the largest flat-rolled steel producer in North America. Founded in 1847 as a mine operator, Cliffs also is the largest manufacturer of iron ore pellets in North America. The

Cleveland-Cliffs Inc. (NYSE:CLF) today reported first-quarter results for the period ended March 31, 2024. First Quarter 2024 Highlights Repurchased 30.4 million shares, or 6% of total outstanding Revenues of $5.2 billion Steel shipments of 3.9 million net tons GAAP net loss of $53 million and adjusted net income1 of $87 million Adjusted EPS1 of $0.18 per diluted share Adjusted EBITDA2 of $414 million 70% Adjusted EBITDA2 improvement year-over-year and 48% increase quarter-over-quarter Liquidity of $4.0 billion as of March 31, 2024 Retired all remaining secured notes First-quarter 2024 revenues were $5.2 billion, compared to $5.1 billion in the fourth quarter

Cleveland-Cliffs Inc. (NYSE:CLF) will announce its first-quarter 2024 earnings results after the U.S. market close on Monday, April 22, 2024. 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, April 23, 2024, 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 the largest flat-rolled steel producer in North America. Founded in 1847 as a mine operator, Cliffs also is the largest manufacturer of iron ore pellets in North America. The

Cleveland-Cliffs Inc. (NYSE:CLF) today reported full-year and fourth-quarter results for the period ended December 31, 2023. Full-Year Highlights Revenues of $22.0 billion Record steel shipments of 16.4 million net tons, including record automotive shipments Cash flow from operations of $2.3 billion Free cash flow of $1.6 billion3, including approximately $500 million in the fourth quarter of 2023 Year-end net debt of $2.9 billion4 Net pension and OPEB liabilities reduced to $586 million, a $3.6 billion reduction since 2020 Full-Year Consolidated Results Full-year 2023 consolidated revenues were $22.0 billion, compared to the prior year's consolidated revenues of $2

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

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) will hold a press conference today at its Butler Works plant in Butler, Pennsylvania, featuring Chairman, President, and CEO Lourenco Goncalves. The event marks the five-year anniversary of Cleveland-Cliffs' acquisition of AK Steel. At the time of the acquisition five years ago, Cliffs made the strategic commitment to defend U.S. national security by preserving operations and jobs at Butler Works, where it produces the grain-oriented electrical steel critical for the supply of electricity to the country. The press conference will address issues important to Cleveland-Cliffs and the domestic steel industry, and will feature opening remarks and media Q&A. Th

Cleveland-Cliffs Inc. (NYSE:CLF) ("Cliffs") provided the following statement regarding the recent developments related to the United States Government decision to prohibit the unlawful acquisition of the United States Steel Corporation by Nippon Steel of Japan: Lourenco Goncalves, Chairman, President and CEO stated: "As of this morning, Nippon Steel and U.S. Steel continue to play the blame game in a desperate attempt to distract from their own failures. Today's lawsuits against the U.S. Government, the USW, and Cleveland-Cliffs represent a shameless effort to scapegoat others for U.S. Steel's and Nippon Steel's self-inflicted disaster. U.S. Steel's executives did not get their personal p

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.

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

Cleveland-Cliffs Inc. (NYSE:CLF) ("Cliffs") today announced that it has successfully completed its acquisition of Stelco Holdings Inc. ("Stelco"). The addition of Stelco enhances Cliffs' position as the largest flat-rolled steel producer in North America, diversifies Cliffs' end-markets and expands its geographical presence in Canada. Stelco will continue operations as a wholly-owned subsidiary of Cliffs, preserving the name and iconic Canadian legacy of the business. Lourenco Goncalves, Chairman, President and CEO of Cliffs, stated: "Today marks a transformative step forward for Cleveland-Cliffs. By bringing Stelco into the Cliffs family, we are building on our commitment to integrated st

TORONTO, Oct. 30, 2024 /CNW/ - Cleveland-Cliffs Inc (NYSE:CLF) and Stelco Holdings Inc. (TSX:STLC) have agreed to merge in a cash and stock combination. Each share of Stelco Holdings will be exchanged for 0.454 new Cleveland-Cliffs shares and $60.00 CAD cash.  The transaction has received shareholder and regulatory approvals and is expected to close on November 1, 2024, subject to customary closing conditions.  Stelco Holdings shares are expected to delist shortly after closing of the transaction. As a result, Stelco Holdings's shares will be removed from the S&P/TSX Composite Index prior to the open of trading on November 5, 2024. For more information about S&P Dow Jones Indices, please vi

Cleveland-Cliffs Inc. (NYSE:CLF) ("Cliffs") today announced that it has received regulatory and program approvals under the Investment Canada Act and Strategic Innovation Fund, the final approvals needed to complete Cliffs' pending acquisition of Stelco Holdings Inc. ("Stelco"). With these approvals in hand, the acquisition can move to closing. The transaction is currently scheduled to close on November 1, 2024. 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 mining of iron ore, production of pellets and direct reduc

Cleveland-Cliffs Inc. (NYSE:CLF) will announce its third-quarter 2024 earnings results after the U.S. market close on Monday, November 4, 2024. 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, November 5, 2024, 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 th

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