Cleveland-Cliffs (CLF)

• Market cap: $3.46B
• 1 day: -4.25%
• 5 days: -6.68%
• 1 month: -25.80%
• 3 months: -30.72%
• 6 months: -48.75%
• Year to date: -26.73%
• 1 year: -66.47%
• 5 years: 91.51%
• 10 years: 38.42%
• Sector: Materials
• Industry: Steel

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: 30,000

Fund manager confidence

Based on 2024 Q4 regulatory disclosures by fund managers ($100M+ AUM)

109% more call options, than puts

Call options by funds: $578M | Put options by funds: $276M

17% more first-time investments, than exits

New positions opened: 102 | Existing positions closed: 87

12% more repeat investments, than reductions

Existing positions increased: 195 | Existing positions reduced: 174

1% more funds holding

Funds holding: 559 [Q3] → 565 (+6) [Q4]

0.4% more ownership

Funds ownership: 72.35% [Q3] → 72.75% (+0.4%) [Q4]

0% more funds holding in top 10

Funds holding in top 10: 5 [Q3] → 5 (+0) [Q4]

22% less capital invested

Capital invested by funds: $4.32B [Q3] → $3.37B (-$951M) [Q4]

Research analyst outlook

4 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $11 57% upside
• Avg. target: $12.48 78% upside
• High target: $15 115% upside

4 analyst ratings

• positive: 3 75%
• neutral: 1 25%
• negative: 0 0%

Seaport Global Martin Englert 20% 1-year accuracy 1 / 5 met price target	57% upside $11	Buy Maintained	12 Mar 2025
Goldman Sachs Mike Harris 20% 1-year accuracy 1 / 5 met price target	115% upside $15	Buy Maintained	4 Mar 2025
GLJ Research Gordon Johnson 71% 1-year accuracy 17 / 24 met price target	85% upside $12.90	Buy Maintained	27 Feb 2025
Morgan Stanley Carlos De Alba 26% 1-year accuracy 6 / 23 met price target	57% upside $11	Equal-Weight Maintained	3 Feb 2025