Cleveland-Cliffs Sees Unusually Large Options Volume (NYSE:CLF)

Cleveland-Cliffs Inc. (NYSE:CLF) was the recipient of some unusual options trading on Thursday. Stock investors bought 86,150 call options on the company. This is an increase of approximately 77% compared to the average daily volume of 48,730 call options.

Analyst Ratings Changes

Several equities analysts have recently commented on CLF shares. The Goldman Sachs Group reiterated a “neutral” rating and set a $10.00 target price on shares of Cleveland-Cliffs in a research note on Friday, May 1st. Morgan Stanley restated an “equal weight” rating and issued a $12.50 target price (up from $12.00) on shares of Cleveland-Cliffs in a research note on Monday, June 22nd. JPMorgan Chase & Co. reduced their price target on shares of Cleveland-Cliffs from $13.00 to $10.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 15th. Glj Research upgraded Cleveland-Cliffs from a “hold” rating to a “buy” rating and lifted their price target for the stock from $15.01 to $15.60 in a research note on Friday. Finally, Wells Fargo & Company reissued a “positive” rating on shares of Cleveland-Cliffs in a report on Friday. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $11.86.

Insider Buying and Selling

In other Cleveland-Cliffs news, EVP Celso L. Goncalves, Jr. sold 214,308 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president owned 184,542 shares in the company, valued at $2,474,708.22. This trade represents a 53.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.95% of the company’s stock.

Institutional Inflows and Outflows

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

Cleveland-Cliffs Stock Up 8.9%

NYSE:CLF opened at $11.94 on Friday. The firm has a market capitalization of $6.81 billion, a PE ratio of -7.37 and a beta of 2.13. The stock has a 50 day moving average of $11.29 and a 200-day moving average of $11.03. The company has a current ratio of 1.89, a quick ratio of 0.64 and a debt-to-equity ratio of 1.32. Cleveland-Cliffs has a 52 week low of $7.73 and a 52 week high of $16.70.

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

Cleveland-Cliffs News Roundup

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.

About Cleveland-Cliffs

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.