Cleveland-Cliffs (CLF)

• Market cap: $5.85B
• 1 day: -1.82%
• 5 days: -7.50%
• 1 month: -15.06%
• 3 months: 3.86%
• 6 months: -26.23%
• Year to date: -40.11%
• 1 year: -32.23%
• 5 years: 45.45%
• 10 years: 60.87%
• Sector: Materials
• Industry: Metal Mining

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)

59% more call options, than puts

Call options by funds: $511M | Put options by funds: $321M

0.31% less ownership

Funds ownership: 72.66% [Q2] → 72.35% (-0.31%) [Q3]

9% less funds holding

Funds holding: 606 [Q2] → 553 (-53) [Q3]

11% less repeat investments, than reductions

Existing positions increased: 182 | Existing positions reduced: 205

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: $5.32B [Q2] → $4.32B (-$998M) [Q3]

42% less first-time investments, than exits

New positions opened: 74 | Existing positions closed: 127

Research analyst outlook

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

• Low target: $12.50 6% upside
• Avg. target: $14.25 20% upside
• High target: $16 35% upside

4 analyst ratings

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

Goldman Sachs Mike Harris 0% 1-year accuracy 0 / 2 met price target	35% upside $16	Buy Initiated	2 Dec 2024
Morgan Stanley Carlos De Alba 52% 1-year accuracy 12 / 23 met price target	14% upside $13.50	Equal-Weight Maintained	18 Sept 2024
Morgan Stanley Carlos De Alba 52% 1-year accuracy 12 / 23 met price target	27% upside $15	Equal-Weight Maintained	17 Sept 2024
Citigroup Alexander Hacking 100% 1-year accuracy 4 / 4 met price target	6% upside $12.50	Neutral Maintained	10 Sept 2024