Cleveland-Cliffs Option Alert: Jan 16 $10 Puts at the Ask: 4500 vs 12245 OI

Cleveland-Cliffs Option Alert: Jan 16 $10 Puts at the Ask: 4500 @ $1.16 vs 12245 OI; Ref=$11.255

Cleveland-Cliffs Option Alert: Jan 16 $10 Puts at the Ask: 4501 vs 12245 OI

Cleveland-Cliffs Option Alert: Jan 16 $10 Puts at the Ask: 4501 @ $1.16 vs 12245 OI; Ref=$11.215

Cleveland-Cliffs (NYSE:CLF) Stock

CLEVELAND-CLIFFS INC

Cleveland-Cliffs

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.

The stock trade made by the wife of Rep. Mike Kelly (R-Pa.) has sparked concerns about insider information. The House Ethics Committee, however, did not find enough evidence to prove that Kelly violated insider-trading laws.
What Happened: The House Ethics Committee released a report on Friday, which expressed &#8220;serious concerns&#8221; about stock purchases made by Kelly&#8217;s wife in 2020, <a href="https://www.wsj.com/politics/policy/stock-trade-by-lawmakers-wife-fuels-insider-information-concerns-46a7645c">reported</a> The Wall Street Journal.
The report found that Kelly had breached the House&#8217;s code of conduct by not being forthcoming during the investigation into his wife&#8217;s stock purchase. The report&#8217;s public release is intended to serve as a reprimand for his actions.
See Also: <a href="https://benzinga.com/news/topics/25/07/46606682/microsoft-is-betting-big-on-a-startup-that-injects-human-and-animal-waste-into-rocks-to-offset-14-9m-">Microsoft Is Betting Big On A Startup That Injects Human And Animal Waste Into Rocks To Offset 14.9M Tons Of Emissions</a>
The stock in question was purchased by Victoria Kelly a day after a significant tariff decision. The company, Cleveland-Cliffs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>), operated a local steel plant that was at risk of closure. The report did not establish any violations of insider-trading laws by Kelly.
Why It Matters: The Office of Congressional Ethics deemed Victoria Kelly's stock purchase "uncharacteristic." The immediate occurrence after Rep. Kelly's office learned of favorable federal actions for Cleveland-Cliffs, suggesting potential use of nonpublic information.
The case marks a definitive instance where a formal ethics review was initiated due to a lawmaker&#8217;s spouse engaging in stock trading connected to her husband&#8217;s official duties.
Price Action: CLF stock closed up at 4.86% at $11.44 during <a href="https://www.benzinga.com/quote/CLF">regular trading hours</a> on July 25.
<ul class="wp-block-list">
<li>Read Next: <a href="https://benzinga.com/news/topics/25/07/46643607/its-the-craziest-gamble-ever-says-joe-rogan-about-insurance-you-pay-and-cross-your-fingers-theyll-act">&#8216;It&#8217;s The Craziest Gamble Ever,&#8217; Says Joe Rogan About Insurance. You Pay And Cross Your Fingers They&#8217;ll Actually Cover You</a></li>
</ul>
Photo courtesy: khunkornStudio via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Politics

Insider Trading Concerns Swirl Around Rep. Mike Kelly After Wife's 'Uncharacteristic' Stock Buy

JP Morgan analyst Bill Peterson maintains Cleveland-Cliffs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) with a Neutral and raises the price target from $7.5 to $10.

News

Price Target

Analyst Ratings

JP Morgan Maintains Neutral on Cleveland-Cliffs, Raises Price Target to $10

Deep-pocketed investors have adopted a bullish approach towards Cleveland-Cliffs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in CLF usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 16 extraordinary options activities for Cleveland-Cliffs. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 56% leaning bullish and 37% bearish. Among these notable options, 7 are puts, totaling $288,276, and 9 are calls, amounting to $445,877.
<h3>Projected Price Targets</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $9.0 and $15.0 for Cleveland-Cliffs, spanning the last three months.
<h3>Volume &amp; Open Interest Development</h3>
In today's trading context, the average open interest for options of Cleveland-Cliffs stands at 3945.57, with a total volume reaching 7,997.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Cleveland-Cliffs, situated within the strike price corridor from $9.0 to $15.0, throughout the last 30 days.
<h3>Cleveland-Cliffs 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1753210857_0_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th align="right">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>CLF</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/17/27</td>
<td>$4.9</td>
<td>$4.9</td>
<td>$4.9</td>
<td>$10.00</td>
<td>$98.0K</td>
<td>2.7K</td>
<td align="right">220</td>
</tr>
<tr>
<td>CLF</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>08/08/25</td>
<td>$0.48</td>
<td>$0.46</td>
<td>$0.48</td>
<td>$11.00</td>
<td>$96.2K</td>
<td>205</td>
<td align="right">15</td>
</tr>
<tr>
<td>CLF</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/15/27</td>
<td>$3.3</td>
<td>$3.25</td>
<td>$3.3</td>
<td>$12.00</td>
<td>$66.0K</td>
<td>3.7K</td>
<td align="right">380</td>
</tr>
<tr>
<td>CLF</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$4.25</td>
<td>$4.15</td>
<td>$4.15</td>
<td>$15.00</td>
<td>$53.1K</td>
<td>12.7K</td>
<td align="right">431</td>
</tr>
<tr>
<td>CLF</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/17/27</td>
<td>$5.05</td>
<td>$4.8</td>
<td>$4.9</td>
<td>$10.00</td>
<td>$49.0K</td>
<td>2.7K</td>
<td align="right">320</td>
</tr>
</tbody>
</table>

<h3>About Cleveland-Cliffs</h3>
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.
After a thorough review of the options trading surrounding Cleveland-Cliffs, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Present Market Standing of Cleveland-Cliffs</h3>
<ul>
<li>Currently trading with a volume of 39,902,388, the CLF's price is up by 6.61%, now at $11.37. </li>
<li>RSI readings suggest the stock is currently may be overbought.</li>
<li>Anticipated earnings release is in 104 days.</li>
</ul>
<h3>Expert Opinions on Cleveland-Cliffs</h3>
A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $10.75.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;adType=benzinga-insights&amp;ad=options-activity&amp;campaign=wallstreetadvantage">Click here for access</a>. 
&#x2A; An analyst from JP Morgan downgraded its action to Neutral with a price target of $7. 
&#x2A; An analyst from Citigroup persists with their Neutral rating on Cleveland-Cliffs, maintaining a target price of $11. 
&#x2A; Maintaining their stance, an analyst from Morgan Stanley continues to hold a Equal-Weight rating for Cleveland-Cliffs, targeting a price of $10. 
&#x2A; An analyst from Keybanc upgraded its action to Overweight with a price target of $14. 
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Cleveland-Cliffs, <a href="https://www.benzinga.com/pro/">Benzinga Pro</a> gives you real-time options trades alerts.

Options

Markets

Cleveland-Cliffs's Options: A Look at What the Big Money is Thinking

WIIM

Cleveland-Cliffs shares are trading higher after Keybanc upgraded the stock from Sector Weight to Overweight and announced a price target of $14. Additionally, Morgan Stanley and Citigroup raised their respective price targets.

Cleveland-Cliffs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) is gaining renewed confidence from Wall Street after posting better-than-expected results for the second quarter of 2025, prompting KeyBanc Capital Markets analyst Philip Gibbs to upgrade the stock to Overweight and set a <a href="https://www.benzinga.com/quote/CLF/analyst-ratings">price forecast</a> of $14<a href="https://www.benzinga.com/quote/CLF/analyst-ratings" target="_blank" rel="noreferrer noopener"></a>. 
The move reflects a more favorable risk-reward outlook for the steelmaker, which is capitalizing on robust domestic demand, aggressive cost-cutting, and strategic shifts amid a supportive policy environment.
Cleveland-Cliffs <a href="https://www.benzinga.com/markets/earnings/25/07/46520299/cleveland-cliffs-ceo-credits-trump-tariffs-for-q2-steel-rebound" target="_blank" rel="noreferrer noopener">reported</a> a narrower second-quarter 2025 adjusted loss of $0.50 per share, beating expectations, with revenue of $4.93 billion. 
Also Read: <a href="https://www.benzinga.com/markets/commodities/25/06/45997873/steel-dynamics-sees-q2-rebound-from-q1-but-still-trails-street-forecast" target="_blank" rel="noreferrer noopener">Steel Dynamics Sees Q2 Rebound From Q1 But Still Trails Street Forecast</a>
Steel shipments reached a record 4.3 million net tons, though the average selling price declined. Cost-cutting efforts, including the idling of six facilities, reduced steel unit costs by $15 per ton.
Adjusted EBITDA turned positive at $97 million. The company lowered its 2025 capital expenditure and SG&amp;A guidance and expects further cost improvements in the second half.
CEO Lourenco Goncalves emphasized strong domestic steel demand, a healthy order book, and policy support from the Trump administration. He noted that a loss-making slab supply deal will end soon, further supporting margins and accelerating free cash flow and debt reduction.
Gibbs stated that the upgrade reflects his increased confidence in Cleveland-Cliffs&#8217; cost-cutting efforts and operational efficiencies, especially within its high-margin automotive segment. He also pointed to trade protections and reshoring trends as favorable tailwinds that position the company to gain market share.
The analyst revised his 2025 outlook, narrowing projected losses due to improved margins and lower production costs. He now forecasts 2025 EBITDA of $419 million, more than double his previous estimate. For the third quarter of 2025, he raised EBITDA expectations to $197 million from $123 million, aided by an additional $20 per ton in cost savings.
Looking ahead to 2026, Gibbs raised his EPS forecast to $0.42 and EBITDA to $1.86 billion, citing a stronger production base, contract repricing, and the elimination of a $250 million drag from the slab agreement with ArcelorMittal. If U.S. and Canadian steel prices outperform expectations, 2026 EBITDA could exceed $2 billion.
According to Gibbs, valuation remains attractive, with shares trading at about 7x 2026 EV/EBITDA, within historical norms. The $14 price forecast reflects a multiple toward the higher end of that range, factoring in potential asset sales and upside from stronger steel pricing.
He also highlighted the growing likelihood of non-core asset divestitures. Cleveland-Cliffs recently engaged J.P. Morgan to lead the sales process for idle properties such as Riverdale and Steelton, which could appeal to data center developers. Management believes these assets could yield &#8220;billions of dollars,&#8221; enhancing financial flexibility and shareholder returns.
Key risks include volatility in steel prices, shifts in trade policy, fluctuations in automotive demand, interest rate impacts, and the threat of new domestic competitors.
Recent analyst updates:
<ul class="wp-block-list">
<li>Citigroup analyst Alexander Hacking maintained a Neutral rating and raised the price forecast from $7.50 to $11.</li>
<li>Morgan Stanley&#8217;s analyst Carlos De Alba reiterated an Equal-Weight rating and lifted the price forecast from $8 to $10.50.</li>
<li>JP Morgan analyst Bill Peterson reinstated coverage with a Neutral rating and issued a price forecast of $7.50.</li>
</ul>
Price Action: CLF shares are trading higher by 6.01% to $11.30 at last check Tuesday.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/earnings/25/07/46550246/halliburton-ceos-sobering-outlook-overshadows-q2-performance" target="_blank" rel="noreferrer noopener">Halliburton CEO&#8217;s Sobering Outlook Overshadows Q2 Performance</a></li>
</ul>
Photo by JHVEPhoto via Shutterstock

Analyst Color

Upgrades

Movers

Trading Ideas

Cleveland-Cliffs Rides Cost Cuts And Trump Tariffs To Stronger Outlook, Eyes Billions From Asset Sales

Morgan Stanley analyst Carlos De Alba maintains Cleveland-Cliffs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) with a Equal-Weight and raises the price target from $8 to $10.5.

Morgan Stanley Maintains Equal-Weight on Cleveland-Cliffs, Raises Price Target to $10.5

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul class="wp-block-list">
<li>Keybanc analyst Philip Gibbs upgraded the rating for Cleveland-Cliffs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) from Sector Weight to Overweight and announced a $14 price target. Cleveland-Cliffs shares closed at $10.66 on Monday. <a href="https://www.benzinga.com/quote/clf/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Jefferies analyst David Chiaverini upgraded Zions Bancorporation, National Association (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZION#NASDAQ">ZION</a>) from Underperform to Hold and raised the price target from $45 to $60. Zions Bancorp shares closed at $56.59 on Monday. <a href="https://www.benzinga.com/quote/zion/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>William Blair analyst Louie DiPalma upgraded the rating for Booz Allen Hamilton Holding Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAH#NYSE">BAH</a>) from Market Perform to Outperform. Booz Allen Hamilton shares closed at $109.32 on Monday. <a href="https://www.benzinga.com/quote/bah/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Baird analyst Tristan Gerra upgraded STMicroelectronics N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STM#NYSE">STM</a>) from Neutral to Outperform and raised the price target from $23 to $50. STMicroelectronics shares closed at $32.81 on Monday. <a href="https://www.benzinga.com/quote/stm/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
Considering buying BAH stock? Here&#8217;s what analysts think:
<figure class="wp-block-image size-large is-resized"><a href="https://www.benzinga.com/quote/BAH/analyst-ratings"><img loading="lazy" decoding="async" width="1024" height="588" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/22081301/image-303-1024x588.png" alt="" class="wp-image-995295" style="width:610px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/22081301/image-303-1024x588.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/22081301/image-303-300x172.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/22081301/image-303-768x441.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/22081301/image-303.png 1107w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Read This Next:
<ul class="wp-block-list">
<li> <a href="https://www.benzinga.com/trading-ideas/short-ideas/25/07/46517205/top-2-financial-stocks-that-may-plunge-this-month">Top 2 Financial Stocks That May Plunge This Month</a> </li>
</ul>
Photo via Shutterstock

Pre-Market Outlook

ZION

This Booz Allen Hamilton Analyst Turns Bullish; Here Are Top 4 Upgrades For Tuesday

Keybanc analyst Philip Gibbs upgrades Cleveland-Cliffs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) from Sector Weight to Overweight and announces $14 price target.

Keybanc Upgrades Cleveland-Cliffs to Overweight, Announces $14 Price Target

Citigroup analyst Alexander Hacking maintains Cleveland-Cliffs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) with a Neutral and raises the price target from $7.5 to $11.

Citigroup Maintains Neutral on Cleveland-Cliffs, Raises Price Target to $11

Wall Street opened the week on a risk-on footing, with the S&amp;P 500 and the Nasdaq 100 extending record highs as strong earnings reinforced confidence in corporate America and investors continued to <a href="https://www.benzinga.com/topic/tariffs">shrug off trade tensions.</a>
By midday trading in New York, the S&amp;P 500 had climbed 0.6% to break above 6,330, the Nasdaq 100 rose 0.8% to 23,260, and the Dow Jones added 260 points, or 0.6%. 
Commerce Secretary Howard Lutnick reaffirmed the August 1 tariff deadline as &#8220;hard,&#8221; though he said that negotiation are set to continue.
See Also: <a href="https://www.benzinga.com/markets/economic-data/25/07/46521011/trump-stocks-bonds-foreign-inflows-record">Trump&#8217;s Economy Is Riding A Tsunami Of Inflows — So Much For &#8216;Sell America&#8217;</a>
Gold prices jumped 1.5% to $3,400 per ounce, hitting a one-month-high, while silver gained 1.9%, both lifted by renewed dollar weakness.
The U.S. dollar index slipped below 98 amid rising concerns over the Fed's independence. On Monday, Treasury Secretary Scott Bessent called for a review of the institution, telling CNBC that there's a need to "examine the entire Federal Reserve institution and whether they have been successful."
Meanwhile, President Donald Trump's prolonged criticism of Fed Chair Jerome Powell reignited speculation about a possible dismissal. According to CFTC-regulated betting platform Kalshi, there&#8217;s a 23% chance Powell could be removed by the end of the year. Powell is legally protected from being removed by Trump.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rose 1.1% to $118,590, and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) added 1.8%, as digital asset demand remained strong following latest policy breakthroughs. 
<h3 class="wp-block-heading">Monday&#8217;s Performance Of Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>% Chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>23,258.14</td>
<td>0.8%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,253.86</td>
<td>0.6%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>6,335.66</td>
<td>0.6%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>44,602.93</td>
<td>0.6%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated by 12:00 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:
<ul class="wp-block-list">
<li>The&nbsp;Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) rose 0.6% to $580.15.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) rose 0.6% to $445.86.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;soared 0.8% to $565.17.</li>
<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 0.6% to $223.58.</li>
<li>The&nbsp;Communication Services&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) outperformed, up 1.2%; the&nbsp;Energy&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, down 0.5%.</li>
</ul>
<h3 class="wp-block-heading">Monday&#8217;s Stock Movers</h3>
<ul class="wp-block-list">
<li>Verizon Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) soared 4.7% after reporting stronger-than-expected quarterly results.</li>
<li>Cleveland-Cliffs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) is weighing the sale of several plants, including three idled facilities in Illinois and Pennsylvania. Shares jumped 7.8% to $10.22, with traders viewing the stock as undervalued.</li>
<li>Bruker Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BRKR#NASDAQ">BRKR</a>) fell 14% to $57.84 after issuing preliminary second-quarter revenue guidance that came in below Wall Street estimates.</li>
<li>Block Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>) jumped 8.1% after it was announced Friday that the financial technology firm will join the S&amp;P 500 before Wednesday's open. </li>
<li>Stocks scheduled to report earnings Tuesday before the market open include Coca-Cola Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), Philip Morris International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PM#NYSE">PM</a>), RTX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>), Danaher Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHR#NYSE">DHR</a>), Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>), Northrop Grumman Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>), General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>), PACCAR Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PCAR#NASDAQ">PCAR</a>), MSCI Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSCI#NYSE">MSCI</a>) and D.R. Horton Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>). </li>
</ul>
Now Read
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/economic-data/25/07/46521011/trump-stocks-bonds-foreign-inflows-record">Trump&#8217;s Economy Is Riding A Tsunami Of Inflows — So Much For &#8216;Sell America&#8217; </a></li>
</ul>
Image: Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Equities

Government

Large Cap

Macro Economic Events

Regulations

Broad U.S. Equity ETFs

Commodities

Economics

Tech

ETFs

$BTC

$ETH

BRKR

SPDR Dow Jones Industrial Average ETF Trust

MSCI

PCAR

Wall Street Extends Records, Gold Rallies To $3,400: What's Moving Markets Monday?

Cleveland-Cliffs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) reported <a target="_blank" href="https://www.benzinga.com/pressreleases/25/07/b46513797/cleveland-cliffs-reports-second-quarter-2025-results" rel="noreferrer noopener">second-quarter 2025 results</a> Monday that showed narrowing losses and record steel shipments, as early benefits from its footprint optimization strategy began to materialize.
The steelmaker reported an adjusted loss of 50 cents per share, beating analysts&#8217; expectations for a loss of 70 cents. Revenue totaled $4.93 billion, matching estimates but down from $5.09 billion in the same quarter last year.
Revenue was spread across infrastructure and manufacturing (31%), distributors and converters (30%), automotive (26%), and steel producers (13%). Liquidity stood at $2.7 billion.
Also Read: <a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/06/46077688/commercial-metals-guides-to-earnings-improvement-analyst-raises-estimate-for-" target="_blank" rel="noreferrer noopener">Commercial Metals Guides To Earnings Improvement, Analyst Raises Estimate For Q4</a>
Adjusted EBITDA turned positive at $97 million (-70% YoY), improving from a loss of $174 million in the prior quarter. The company&#8217;s steel unit costs declined $15 per ton, driven by idling six underperforming facilities earlier this year.
Steel shipments hit a record 4.3 million net tons, up from 3.99 million in the second quarter of 2024, while the average selling price fell year-over-year to $1,015/ton from $1,125. Product mix was led by hot-rolled (40%), coated (27%), cold-rolled (15%), and plate (5%) products, with the remainder split between stainless/electrical and other products such as slabs and rail.
The company stated that its operational streamlining initiatives, including the partial or full idling of six plants earlier this year, are already delivering meaningful cost reductions. Steel unit costs fell by $15 per ton quarter-over-quarter, with further gains expected in the second half of 2025.
&#8220;Our second-quarter results demonstrate that the footprint optimization initiatives announced a few months ago are already generating a positive impact on both costs and revenues,&#8221; said Lourenco Goncalves, Cleveland-Cliffs&#8217; chairman, president, and CEO.
He added that inventory reductions helped free up working capital during the quarter, accelerating the company&#8217;s path toward positive free cash flow and debt reduction. The company ended the quarter with $2.7 billion in total liquidity.
<h2 class="wp-block-heading">Outlook</h2>
For full-year 2025, Cleveland-Cliffs lowered its capital expenditure guidance to $600 million, down from $625 million. Selling, general and administrative expenses were also reduced to $575 million, from prior guidance of $600 million.
The company maintained its forecast for $50 per ton in steel unit cost reductions versus 2024. Due to accelerated depreciation of idled assets, depreciation and amortization are now expected to come in at $1.2 billion, up from $1.1 billion.
<h2 class="wp-block-heading">CEO Sees Favorable Steel Conditions Ahead</h2>
Goncalves emphasized that domestic steel pricing remains strong, and the company&#8217;s order book is healthy. He noted that a long-term slab supply contract with a competitor, deemed unprofitable due to low index-based pricing, will end in less than five months and will not be renewed.
&#8220;Cliffs is a major supplier of steel to the automotive manufacturers, and the Trump Administration continues to show strong support to both the domestic steel and the domestic automotive sectors,&#8221; Goncalves said, citing recent tariffs and their positive impact on U.S. manufacturing and jobs.
He said foreign competitors will need to establish U.S. steel capacity if they want to access the market, arguing that Cliffs is uniquely positioned as a domestic, publicly traded player focused on automotive, electrical, stainless, and plate steel.
Price Action: At last check Monday, CLF shares were trading higher by 8.54% to $10.29.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/commodities/25/07/46514212/china-led-rally-sends-iron-ore-over-100-despite-looming-oversupply" target="_blank" rel="noreferrer noopener">China-Led Rally Sends Iron Ore Over $100 Despite Looming Oversupply</a></li>
</ul>
Photo by JHVEPhoto via Shutterstock

Earnings

Guidance

Cleveland-Cliffs CEO Credits Trump Tariffs For Q2 Steel Rebound

Cleveland-Cliffs shares are trading higher after the company reported better-than-expected Q2 adjusted EPS results.

Outlook
The Company updated previously guided expectations for the full-year 2025, as follows:
<ul>
<li>Capital expenditures of approximately $600 million, from its previous expectation of $625 million</li>
<li>Selling, general and administrative expenses of approximately $575 million, from its previous expectation of approximately $600 million</li>
<li>Steel unit cost reductions maintained at a reduction of approximately $50 per net ton compared to 2024</li>
<li>Depreciation, depletion and amortization of approximately $1.2 billion, from its previous expectation of approximately $1.1 billion, primarily due to accelerated depreciation from idled facilities</li>
<li>Cash Pension and OPEB payments and contributions maintained at approximately $150 million</li>
</ul>

Cleveland-Cliffs Cuts 2025 Capex To $600M From $625M, Lowers SG&A To $575M From $600M, Hikes Depreciation To $1.2B From $1.1B

Cleveland-Cliffs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) reported quarterly losses of $(0.50) per share which beat the analyst consensus estimate of $(0.70) by 29.08 percent. This is a 554.55 percent decrease over earnings of $0.11 per share from the same period last year. The company reported quarterly sales of $4.93 billion which met the analyst consensus estimate. This is a 3.10 percent decrease over sales of $5.09 billion the same period last year.

Earnings Beats

Cleveland-Cliffs Q2 Adj. EPS $(0.50) Beats $(0.70) Estimate, Sales $4.93B Inline

<h3>Companies Reporting Before The Bell</h3>
• Ryanair Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RYAAY#NASDAQ">RYAAY</a>) is expected to report quarterly earnings at $1.49 per share on revenue of $4.99 billion. 
• Domino's Pizza (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DPZ#NASDAQ">DPZ</a>) is estimated to report quarterly earnings at $3.95 per share on revenue of $1.14 billion. 
• Verizon Communications (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) is likely to report quarterly earnings at $1.19 per share on revenue of $33.56 billion. 
• Preferred Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PFBC#NASDAQ">PFBC</a>) is expected to report quarterly earnings at $2.43 per share on revenue of $70.60 million. 
• Roper Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROP#NASDAQ">ROP</a>) is likely to report quarterly earnings at $4.83 per share on revenue of $1.93 billion. 
• HBT Finl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HBT#NASDAQ">HBT</a>) is estimated to report quarterly earnings at $0.60 per share on revenue of $59.13 million. 
• Dynex Cap (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DX#NYSE">DX</a>) is projected to report quarterly earnings at $0.38 per share on revenue of $22.02 million. 
• Cleveland-Cliffs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) is expected to report quarterly loss at $0.64 per share on revenue of $4.90 billion. 
<h3>Companies Reporting After The Bell</h3>
• Controladora Vuela (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLRS#NYSE">VLRS</a>) is projected to report quarterly loss at $0.73 per share on revenue of $8.06 billion. 
• AGNC Investment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGNC#NASDAQ">AGNC</a>) is expected to report quarterly earnings at $0.41 per share on revenue of $369.91 million. 
• WR Berkley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WRB#NYSE">WRB</a>) is likely to report quarterly earnings at $1.04 per share on revenue of $3.29 billion. 
• Equity Lifestyle Props (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELS#NYSE">ELS</a>) is projected to report quarterly earnings at $0.56 per share on revenue of $381.79 million. 
• Calix (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CALX#NYSE">CALX</a>) is estimated to report quarterly earnings at $0.10 per share on revenue of $223.75 million. 
• Washington Trust Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WASH#NASDAQ">WASH</a>) is projected to report quarterly earnings at $0.63 per share on revenue of $54.01 million. 
• NXP Semiconductors (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>) is projected to report quarterly earnings at $2.51 per share on revenue of $2.90 billion. 
• Alexandria Real Estate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARE#NYSE">ARE</a>) is projected to report quarterly earnings at $1.30 per share on revenue of $749.07 million. 
• Agilysys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGYS#NASDAQ">AGYS</a>) is expected to report quarterly earnings at $0.32 per share on revenue of $74.40 million. 
• Health In Tech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HIT#NASDAQ">HIT</a>) is likely to report quarterly earnings at $0.01 per share on revenue of $7.67 million. 
• RBB Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RBB#NASDAQ">RBB</a>) is projected to report quarterly earnings at $0.36 per share on revenue of $29.56 million. 
• Medpace Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEDP#NASDAQ">MEDP</a>) is estimated to report quarterly earnings at $2.99 per share on revenue of $539.26 million. 
• Zions Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZION#NASDAQ">ZION</a>) is estimated to report quarterly earnings at $1.31 per share on revenue of $812.19 million. 
• Wintrust Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WTFC#NASDAQ">WTFC</a>) is estimated to report quarterly earnings at $2.60 per share on revenue of $659.26 million. 
• Steel Dynamics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>) is projected to report quarterly earnings at $2.06 per share on revenue of $4.73 billion. 
• SmartFinancial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMBK#NYSE">SMBK</a>) is likely to report quarterly earnings at $0.65 per share on revenue of $48.58 million. 
• Servisfirst Bancshares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SFBS#NYSE">SFBS</a>) is likely to report quarterly earnings at $1.20 per share on revenue of $139.69 million. 
• RLI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RLI#NYSE">RLI</a>) is projected to report quarterly earnings at $0.77 per share on revenue of $444.79 million. 
• Home Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HBCP#NASDAQ">HBCP</a>) is estimated to report quarterly earnings at $1.23 per share on revenue of $33.56 million. 
• Crown Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCK#NYSE">CCK</a>) is estimated to report quarterly earnings at $1.86 per share on revenue of $3.11 billion. 
• BOK Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BOKF#NASDAQ">BOKF</a>) is expected to report quarterly earnings at $1.99 per share on revenue of $520.26 million. 
• Trustco Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRST#NASDAQ">TRST</a>) is expected to report earnings for its second quarter. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

AGNC

AGYS

BOKF

CALX

HBCP

MEDP

NXPI

PFBC

RYAAY

SFBS

SMBK

STLD

TRST

VLRS

WASH

WTFC

Earnings Scheduled For July 21, 2025

Cleveland-Cliffs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) is preparing to release its quarterly earnings on Monday, 2025-07-21. Here's a brief overview of what investors should keep in mind before the announcement.
Analysts expect Cleveland-Cliffs to report an earnings per share (EPS) of $-0.64.
The announcement from Cleveland-Cliffs is eagerly anticipated, with investors seeking news of surpassing estimates and favorable guidance for the next quarter.
It's worth noting for new investors that guidance can be a key determinant of stock price movements.
<h3>Past Earnings Performance</h3>
In the previous earnings release, the company missed EPS by $0.14, leading to a 15.78% drop in the share price the following trading session.
Here's a look at Cleveland-Cliffs's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q1 2025</th>
<th>Q4 2024</th>
<th>Q3 2024</th>
<th>Q2 2024</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>-0.78</td>
<td>-0.61</td>
<td>-0.27</td>
<td>-0.02</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>-0.92</td>
<td>-0.68</td>
<td>-0.33</td>
<td>0.11</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-16.0%</td>
<td>-3.0%</td>
<td>-11.0%</td>
<td>4.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2025/1752850908_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Cleveland-Cliffs were trading at $9.39 as of July 17. Over the last 52-week period, shares are down 37.77%. Given that these returns are generally negative, long-term shareholders are likely unhappy going into this earnings release. 
<a href="https://www.benzinga.com/quote/CLF/earnings">To track all earnings releases for Cleveland-Cliffs visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

An Overview of Cleveland-Cliffs's Earnings

6 analysts have shared their evaluations of Cleveland-Cliffs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) during the recent three months, expressing a mix of bullish and bearish perspectives.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">3</td>
<td align="right">0</td>
<td align="right">1</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">1</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $8.94, a high estimate of $17.00, and a low estimate of $3.91. Observing a downward trend, the current average is 17.83% lower than the prior average price target of $10.88. 
<img src="https://www.benzinga.com/files/images/story/2025/1752498053_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
The standing of Cleveland-Cliffs among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Bill Peterson</td>
<td>JP Morgan</td>
<td>Announces</td>
<td>Neutral</td>
<td>$7.50</td>
<td>-</td>
</tr>
<tr>
<td>Carlos De Alba</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$8.00</td>
<td>$7.50</td>
</tr>
<tr>
<td>Christopher LeFemina</td>
<td>Jefferies</td>
<td>Lowers</td>
<td>Hold</td>
<td>$6.00</td>
<td>$10.00</td>
</tr>
<tr>
<td>Gordon Johnson</td>
<td>GLJ Research</td>
<td>Maintains</td>
<td>Sell</td>
<td>$3.91</td>
<td>$3.91</td>
</tr>
<tr>
<td>Mike Harris</td>
<td>Goldman Sachs</td>
<td>Lowers</td>
<td>Buy</td>
<td>$11.25</td>
<td>$13.00</td>
</tr>
<tr>
<td>Nick Giles</td>
<td>B. Riley Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$17.00</td>
<td>$20.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Cleveland-Cliffs. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Cleveland-Cliffs compared to the broader market.</li>
<li>Price Targets: Analysts set price targets as an estimate of a stock's future value. Comparing the current and prior price targets provides insight into how analysts' expectations have changed over time. This information can be valuable for investors seeking to understand consensus views on the stock's potential future performance.</li>
</ul>
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Cleveland-Cliffs's market standing. Stay informed and make data-driven decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/CLF/analyst-ratings?adType=benzinga-insights&amp;ad=analyst-ratings&amp;campaign=wallstreetadvantage">Stay up to date on Cleveland-Cliffs analyst ratings.</a>
<h2>About Cleveland-Cliffs</h2>
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.
<h3>Cleveland-Cliffs's Financial Performance</h3>
Market Capitalization Analysis: The company exhibits a lower market capitalization profile, positioning itself below industry averages. This suggests a smaller scale relative to peers.
Negative Revenue Trend: Examining Cleveland-Cliffs's financials over 3M reveals challenges. As of 31 March, 2025, the company experienced a decline of approximately -10.96% in revenue growth, reflecting a decrease in top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Materials sector.
Net Margin: Cleveland-Cliffs's net margin is below industry averages, indicating potential challenges in maintaining strong profitability. With a net margin of -10.69%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Cleveland-Cliffs's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of -7.66%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): Cleveland-Cliffs's ROA is below industry standards, pointing towards difficulties in efficiently utilizing assets. With an ROA of -2.37%, the company may encounter challenges in delivering satisfactory returns from its assets.
Debt Management: Cleveland-Cliffs's debt-to-equity ratio surpasses industry norms, standing at 1.22. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
<h2>What Are Analyst Ratings?</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;adType=benzinga-insights&amp;ad=analyst-ratings&amp;campaign=wallstreetadvantage">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Demystifying Cleveland-Cliffs: Insights From 6 Analyst Reviews

JP Morgan analyst Bill Peterson reinstates Cleveland-Cliffs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) with a Neutral and announces $7.5 price target.

Initiation

JP Morgan Reinstates Neutral on Cleveland-Cliffs, Announces $7.5 Price Target

U.S. stocks were mixed, with the Dow Jones index gaining more than 200 points on Thursday.
Shares of AZZ Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZZ#NYSE">AZZ</a>) rose sharply during Thursday's session as the company posted <a href="https://www.benzinga.com/quote/AZZ/analyst-ratings">better-than-expected earnings for its first quarter.</a>
AZZ reported quarterly earnings of $1.78 per share which beat the analyst consensus estimate of $1.58 per share. The company raised its FY2026 adjusted EPS guidance from $5.50-$6.10 to $5.75-$6.25.
AZZ shares jumped 10% to $110.86 on Thursday.
Here are some other big stocks recording gains in today&#8217;s session.
<ul class="wp-block-list">
<li>MP Materials Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MP#NYSE">MP</a>) shares jumped 49% to $44.75 after the company announced it has entered into a public-private partnership with the U.S. Department ot Defense consisting of a multi-billion dollar package of investments and long-term commitments.</li>
<li>WK Kellogg Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KLG#NYSE">KLG</a>) gained 31% to $22.92. Ferrero announced an agreement to acquire the company for $23 per share.</li>
<li>Rimini Street, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RMNI#NASDAQ">RMNI</a>) rose 25.2% to $4.9500. Rimini Street announced that on July 7, the company reached confidential settlement with Oracle to resolve long-running Rimini II case.</li>
<li>Ramaco Resources, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/METC#NASDAQ">METC</a>) gained 24.8% to $15.86.</li>
<li>ProKidney Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PROK#NASDAQ">PROK</a>) gained 20% to $5.22 on possible continued strength after reporting positive kidney disease drug trial results yesterday. Additionally, Citigroup raised its price target on the stock from $6 to $9.</li>
<li>Energy Fuels Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUUU#NYSE">UUUU</a>) jumped 16.6% to $6.52.</li>
<li>Newegg Commerce, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NEGG#NASDAQ">NEGG</a>) rose 16.1% to $25.23.</li>
<li>USA Rare Earth, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/USAR#NASDAQ">USAR</a>) gained 15.7% to $11.33.</li>
<li>Hertz Global Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTZ#NASDAQ">HTZ</a>) jumped 15% to $8.20.</li>
<li>Opendoor Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>) rose 14% to $0.8400.</li>
<li>Delta Air Lines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) gained 13.1% to $57.36 after the company reported better-than-expected quarterly EPS and sales.</li>
<li>United Airlines Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) rose 12.3% to $90.10. Shares of airline stocks traded higher in sympathy with Delta, which beat Q2 earnings estimates.</li>
<li>Aehr Test Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEHR#NASDAQ">AEHR</a>) gained 11.4% to $14.81.</li>
<li>ZTO Express (Cayman) Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZTO#NYSE">ZTO</a>) jumped 9.1% to $19.32.</li>
<li>Alaska Air Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALK#NYSE">ALK</a>) gained 9% to $54.25. Shares of airline stocks traded higher in sympathy with Delta, which beat Q2 earnings estimates.</li>
<li>Cleveland-Cliffs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) rose 8.8% to $9.64.</li>
<li>Coty Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COTY#NYSE">COTY</a>) gained 6.5% to $5.30.</li>
<li>The Estée Lauder Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EL#NYSE">EL</a>) gained 5.5% to $91.39.</li>
</ul>
Now Read This: 
<ul class="wp-block-list">
<li>T<a href="https://www.benzinga.com/trading-ideas/long-ideas/25/07/46316741/top-3-risk-off-stocks-that-may-rocket-higher-in-q3">op 3 Risk Off Stocks That May Rocket Higher In Q3</a> </li>
</ul>
Photo via Shutterstock

Intraday Update

AEHR

COTY

METC

NEGG

OPEN

PROK

RMNI

USAR

UUUU

AZZ Posts Better-Than-Expected Earnings, Joins MP Materials, WK Kellogg And Other Big Stocks Moving Higher On Thursday

In the last three months, 5 analysts have published ratings on Cleveland-Cliffs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>), offering a diverse range of perspectives from bullish to bearish.
The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">1</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">1</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
In the assessment of 12-month price targets, analysts unveil insights for Cleveland-Cliffs, presenting an average target of $9.23, a high estimate of $17.00, and a low estimate of $3.91. This current average represents a 15.17% decrease from the previous average price target of $10.88. 
<img src="https://www.benzinga.com/files/images/story/2025/1750446013_0.png" alt="price target chart" />
<h2>Diving into Analyst Ratings: An In-Depth Exploration</h2>
An in-depth analysis of recent analyst actions unveils how financial experts perceive Cleveland-Cliffs. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Carlos De Alba</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$8.00</td>
<td>$7.50</td>
</tr>
<tr>
<td>Christopher LeFemina</td>
<td>Jefferies</td>
<td>Lowers</td>
<td>Hold</td>
<td>$6.00</td>
<td>$10.00</td>
</tr>
<tr>
<td>Gordon Johnson</td>
<td>GLJ Research</td>
<td>Maintains</td>
<td>Sell</td>
<td>$3.91</td>
<td>$3.91</td>
</tr>
<tr>
<td>Mike Harris</td>
<td>Goldman Sachs</td>
<td>Lowers</td>
<td>Buy</td>
<td>$11.25</td>
<td>$13.00</td>
</tr>
<tr>
<td>Nick Giles</td>
<td>B. Riley Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$17.00</td>
<td>$20.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Cleveland-Cliffs. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of Cleveland-Cliffs compared to the broader market.</li>
<li>Price Targets: Delving into movements, analysts provide estimates for the future value of Cleveland-Cliffs's stock. This analysis reveals shifts in analysts' expectations over time.</li>
</ul>
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Cleveland-Cliffs's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/CLF/analyst-ratings?adType=benzinga-insights&amp;ad=analyst-ratings&amp;campaign=wallstreetadvantage">Stay up to date on Cleveland-Cliffs analyst ratings.</a>
<h2>Unveiling the Story Behind Cleveland-Cliffs</h2>
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.
<h3>Cleveland-Cliffs's Economic Impact: An Analysis</h3>
Market Capitalization: Indicating a reduced size compared to industry averages, the company's market capitalization poses unique challenges.
Decline in Revenue: Over the 3M period, Cleveland-Cliffs faced challenges, resulting in a decline of approximately -10.96% in revenue growth as of 31 March, 2025. This signifies a reduction in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Materials sector.
Net Margin: Cleveland-Cliffs's net margin is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of -10.69%, the company may encounter challenges in effective cost control.
Return on Equity (ROE): Cleveland-Cliffs's ROE lags behind industry averages, suggesting challenges in maximizing returns on equity capital. With an ROE of -7.66%, the company may face hurdles in achieving optimal financial performance.
Return on Assets (ROA): Cleveland-Cliffs's ROA is below industry averages, indicating potential challenges in efficiently utilizing assets. With an ROA of -2.37%, the company may face hurdles in achieving optimal financial returns.
Debt Management: Cleveland-Cliffs's debt-to-equity ratio stands notably higher than the industry average, reaching 1.22. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
<h2>Analyst Ratings: What Are They?</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
Breaking: Wall Street's Next Big Mover
Benzinga's #1 analyst just identified a stock poised for explosive growth. This under-the-radar company could surge 200%+ as major market shifts unfold. <a href="https://www.benzinga.com/premium/ideas/turning-point-trader-checkout-2/?t=Tu1tu3arja3be22tu36&amp;adType=benzinga-insights&amp;ad=analyst-ratings&amp;campaign=wallstreetadvantag">Click here for urgent details</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Where Cleveland-Cliffs Stands With Analysts

Press Releases

Cleveland-Cliffs Celebrates the Start-Up of New $150 Million Stainless Bright Anneal Line at Coshocton Works in Ohio

Cleveland-Cliffs to Announce Second-Quarter 2025 Results and Host Conference Call on July 21

Cleveland-Cliffs Holding Ribbon Cutting Ceremony for New $150 Million Stainless Bright Annealing Line at Coshocton Works in Ohio

Rosen Law Firm Encourages Cleveland-Cliffs Inc. Investors to Inquire About Securities Class Action Investigation – CLF

Legal

Bragar Eagel & Squire, P.C Continues Investigations on Behalf of SelectQuote, Cleveland-Cliffs, EchoStar, and Semler and Encourages Investors to Contact the Firm

Rosen Law Firm Encourages Cleveland-Cliffs Inc. Investors to Inquire About Securities Class Action Investigation - CLF

CLF Investor News: If You Have Suffered Losses in Cleveland-Cliffs Inc. (NYSE: CLF), You Are Encouraged to Contact The Rosen Law Firm About Your Rights

Cleveland-Cliffs Reports Second-Quarter 2025 Results

Bragar Eagel & Squire, P.C. Is Investigating GoHealth, Semler, and Cleveland-Cliffs and Encourages Investors to Contact the Firm

GOCO

SATS

SLQT

SMLR

Ascent Industries

Alpha Metallurgical Resources, Inc. Common Stock

Alpha Metallurgical

Commercial Metals

Carpenter Technology Corporation Common Stock

Carpenter Tech

Friedman Indus

Gerdau

Warrior Met Coal

Luda Technology Group Limited Ordinary Shares

Luda Technology Group

Ramaco Resources, Inc. - Class A Common Stock

Ramaco Resources

Ramaco Resources, Inc. - Class B Common Stock

Mesabi Tr

ArcelorMittal

Metallus

Nucor

POSCO HOLDINGS INC. American Depositary Shares (Each representing 1/4th of a share of Common Stock)

POSCO Holdings

Reliance

Ryerson Holding

Companhia Siderurgica Nacional S.A. Common Stock

Companhia Siderurgica

Grupo Simec, S.A.B. de C.V. American Depositary Shares

Grupo Simec

Steel Dynamics

SunCoke Energy

Ternium S.A. Ternium S.A. American Depositary Shares (each representing ten shares, USD1.00 par value)

Comments

Cleveland-Cliffs

Unusual Options Activity for

Notizie

PARTENAIRE / CONTRIBUTEUR

BENZINGA MONDIAL

Date	Put/Call	Strike Price	Exp Date	DTE	Trade Vol	Day Vol	Vol / OI	OI	Trade Type	Sentiment
10:26 AMJul 25, 2025	PUT	$10.00	Jan 16, 2026	172	4502	4500	37	12245	TRADE	BEARISH
10:23 AMJul 25, 2025	PUT	$10.00	Jan 16, 2026	172	4502	4501	37	12245	TRADE	BEARISH