Cleveland-Cliffs
About: Cleveland-Cliffs Inc is a flat-rolled steel producer and manufacturer of iron ore pellets in North America. It is organized into four operating segments based on differentiated products, Steelmaking, Tubular, Tooling and Stamping and European Operations, but operates through one reportable segment -Steelmaking. It is vertically integrated from mined raw materials, direct reduced iron, and ferrous scrap to primary steelmaking and downstream finishing, stamping, tooling and tubing. It serves a diverse range of other markets due to its comprehensive offering of flat-rolled steel products. Geographically, it operates in the United States, Canada and other countries. The majority of revenue is from the United States. It is a supplier of steel to the automotive industry in North America.
Employees: 28,000
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
60% more call options, than puts
Call options by funds: $521M | Put options by funds: $325M
0.38% less ownership
Funds ownership: 73.02% [Q2] → 72.64% (-0.38%) [Q3]
8% less funds holding
Funds holding: 606 [Q2] → 555 (-51) [Q3]
12% less repeat investments, than reductions
Existing positions increased: 182 | Existing positions reduced: 207
17% less funds holding in top 10
Funds holding in top 10: 6 [Q2] → 5 (-1) [Q3]
19% less capital invested
Capital invested by funds: $5.35B [Q2] → $4.34B (-$1.01B) [Q3]
39% less first-time investments, than exits
New positions opened: 74 | Existing positions closed: 121
Research analyst outlook
3 Wall Street Analysts provided 1 year price targets over the past 3 months
3 analyst ratings
GLJ Research Gordon Johnson 55% 1-year accuracy 12 / 22 met price target | 39%upside $14.27 | Buy Upgraded | 7 Jan 2025 |
Citigroup Alexander Hacking 50% 1-year accuracy 5 / 10 met price target | 7%upside $11 | Neutral Maintained | 19 Dec 2024 |
Goldman Sachs Mike Harris 0% 1-year accuracy 0 / 3 met price target | 56%upside $16 | Buy Initiated | 2 Dec 2024 |
Financial journalist opinion
Based on 26 articles about CLF published over the past 30 days
