Wells Fargo & Company Raises Cleveland-Cliffs (NYSE:CLF) Price Target to $11.00

Cleveland-Cliffs (NYSE:CLF) had its price objective lifted by equities research analysts at Wells Fargo & Company from $9.00 to $11.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the mining company’s stock. Wells Fargo & Company‘s target price suggests a potential downside of 7.83% from the company’s previous close.

Several other equities research analysts have also commented on the stock. Morgan Stanley reiterated an “equal weight” rating and issued a $12.50 price objective (up from $12.00) on shares of Cleveland-Cliffs in a research note on Monday, June 22nd. Barclays boosted their target price on Cleveland-Cliffs from $9.00 to $10.00 and gave the stock an “underweight” rating in a research note on Friday. JPMorgan Chase & Co. reduced their target price on Cleveland-Cliffs from $13.00 to $10.00 and set a “neutral” rating for the company in a report on Wednesday, July 15th. Bank of America decreased their price target on Cleveland-Cliffs from $14.00 to $11.50 and set a “neutral” rating for the company in a research report on Thursday, July 9th. Finally, Glj Research upgraded Cleveland-Cliffs from a “sell” rating to a “hold” rating and lifted their price target for the stock from $9.03 to $15.01 in a report on Tuesday, June 9th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $11.86.

Cleveland-Cliffs Stock Performance

NYSE CLF opened at $11.94 on Friday. The company has a fifty day moving average price of $11.29 and a 200-day moving average price of $11.03. The firm has a market cap of $6.81 billion, a price-to-earnings ratio of -7.37 and a beta of 2.13. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.89 and a quick ratio of 0.64. Cleveland-Cliffs has a 1 year low of $7.73 and a 1 year high of $16.70.

Cleveland-Cliffs (NYSE:CLF) last released its quarterly earnings results on Thursday, July 23rd. The mining company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.01. Cleveland-Cliffs had a negative net margin of 4.56% and a negative return on equity of 13.37%. The company had revenue of $5.23 billion for the quarter, compared to analyst estimates of $5.15 billion. During the same period last year, the firm earned ($0.50) earnings per share. The firm’s revenue was up 5.9% on a year-over-year basis. As a group, equities research analysts predict that Cleveland-Cliffs will post -0.15 EPS for the current fiscal year.

Insider Buying and Selling

In other Cleveland-Cliffs news, EVP Celso L. Goncalves, Jr. sold 214,308 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $13.41, for a total transaction of $2,873,870.28. Following the completion of the transaction, the executive vice president directly owned 184,542 shares of the company’s stock, valued at approximately $2,474,708.22. This represents a 53.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.95% of the company’s stock.

Institutional Trading of Cleveland-Cliffs

Several hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio grew its stake in shares of Cleveland-Cliffs by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 152,009 shares of the mining company’s stock worth $1,855,000 after acquiring an additional 943 shares during the period. Moors & Cabot Inc. raised its stake in Cleveland-Cliffs by 3.0% in the 3rd quarter. Moors & Cabot Inc. now owns 33,118 shares of the mining company’s stock valued at $404,000 after acquiring an additional 960 shares during the period. Whitcomb & Hess Inc. lifted its holdings in Cleveland-Cliffs by 3.8% during the fourth quarter. Whitcomb & Hess Inc. now owns 26,752 shares of the mining company’s stock valued at $357,000 after purchasing an additional 973 shares during the last quarter. Rexford Capital Inc. lifted its holdings in Cleveland-Cliffs by 11.8% during the fourth quarter. Rexford Capital Inc. now owns 9,500 shares of the mining company’s stock valued at $126,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Cidel Asset Management Inc. boosted its position in Cleveland-Cliffs by 6.0% during the fourth quarter. Cidel Asset Management Inc. now owns 18,185 shares of the mining company’s stock worth $242,000 after purchasing an additional 1,037 shares during the period. 67.68% of the stock is currently owned by institutional investors.

More Cleveland-Cliffs News

Here are the key news stories impacting Cleveland-Cliffs this week:

• Positive Sentiment: Cleveland-Cliffs posted Q2 results that beat expectations on both earnings and revenue, helped by stronger steel pricing that improved margins even as shipment volumes declined. CLF Q2 Earnings and Sales Beat Estimates on Higher Steel Pricing
• Positive Sentiment: The company reported a sharp jump in adjusted EBITDA, returned to positive free cash flow, and gave a notably optimistic outlook, with investors focusing on the prospect of stronger profitability ahead. Cleveland-Cliffs Inc (CLF) Q2 2026 Earnings Call Highlights: Strong EBITDA Growth and Positive …
• Positive Sentiment: Several analysts turned more constructive, including Glj Research upgrading the stock to buy and lifting its price target, which added to the bullish sentiment around the name. Cleveland-Cliffs upgraded by Glj Research
• Positive Sentiment: Trading activity was also supportive, with reports of unusual call-option buying and multiple articles highlighting CLF as a momentum stock with value appeal.
• Neutral Sentiment: Wells Fargo raised its price target but kept an “equal weight” rating, suggesting some upside remains but not a full endorsement of the rally. Wells Fargo price target raised on CLF
• Neutral Sentiment: The company also announced a leadership change, promoting CFO Celso Goncalves to President and CFO, which is more of a governance update than a direct earnings driver. Cleveland-Cliffs Announces Promotion of Chief Financial Officer
• Negative Sentiment: Not all analyst commentary was supportive: one report said brokerage consensus remains “Reduce,” and another noted Wells Fargo’s new target is still below the current share price, reflecting lingering skepticism about the stock’s valuation and durability of the rebound.

Cleveland-Cliffs Company Profile

Cleveland-Cliffs Inc is a leading North American producer of iron ore pellets and flat-rolled steel products. Tracing its roots to 1847, the company has evolved from an iron-ore mining concern in the Great Lakes region into a fully integrated steelmaker. Today, Cleveland-Cliffs operates iron ore mining complexes in Michigan and Minnesota as well as steelmaking and finishing facilities across the United States.

The company’s integrated platform begins with direct control of key raw materials, including iron ore and scrap, and extends through every stage of steel production.