Canada gave Cleveland-Cliffs 15 days to reverse planned job cuts at its Ontario steel mill, warning sanctions could include a forced divestiture. The move injects regulatory risk into CLF's North American footprint and could affect near-term earnings if the plant is divested or restructured. Investors should monitor government updates and CLF’s response.
Cleveland-Cliffs posted a strong Q3, swinging to profit with revenue of $5.6 billion and EBITDA of $612 million, topping expectations. Higher steel sales and prices drove the beat, and an upbeat outlook prompted a sharp stock-lift. The results signal improving steel demand and pricing, potentially sustaining CLF's earnings momentum into the next quarter.
Cleveland-Cliffs will report Q3 results on Oct 19 with an expected $0.24 per share on $5.72B revenue, a turn from last year’s loss. The $1B Middletown Works investment enhances capacity and potential cash flow. Analysts show a positive tilt with multiple upgrades and higher targets, supporting near-term upside if results meet or exceed expectations.
Analysts highlighted Cleveland-Cliffs as a potential beneficiary after Jim Lebenthal endorsed the stock on CNBC’s Halftime Report Final Trades. JP Morgan maintained a Neutral rating and lifted its price target to $13, contributing to a 3.1% intraday rise to $12.15. The move appears sentiment-driven and could set up near-term upside if momentum continues.
Cleveland-Cliffs (CLF) surged 7.2% to about $12.85 after being named GM’s Supplier of the Year for 2025, aided by higher steel prices. The stock has enjoyed a 24% weekly gain and a five-day win streak, with a bullish 100-day moving average crossover that historically preceded gains about 73% of the time. However, RSI near 70 and elevated short interest imply upside may be tempered by near-term overbought conditions.
Cleveland-Cliffs reported a Q1 loss of 40 cents per share, missing analyst expectations while sales of $4.922 billion surpassed estimates. The significant drop in shares indicates negative market sentiment despite strong revenue, signaling potential challenges ahead for the company.