Cleveland-Cliffs Inc (CLF)

Cleveland-Cliffs' stock price experienced notable movements over the past six months. The stock was up over 50% in the six months leading up to February 2026. A transformative MOU with POSCO was executed on September 17, 2025. The Q3 2025 earnings report led to a stock surge, but a public offering of 75 million shares caused the stock to tumble. S&P Global Ratings downgraded Cleveland-Cliffs' rating in December 2025. Analysts have issued mixed ratings and price targets during this period. The reinstatement and expansion of steel tariffs by the Trump administration also significantly impacted CLF.

Demand for Cleveland-Cliffs' products is influenced by the automotive, infrastructure, and construction sectors, with a strong focus on the automotive industry. The company has secured multi-year fixed-price contracts with major automotive OEMs through 2027 or 2028. While steel demand remained healthy throughout 2023, the UAW labor strike temporarily impacted demand, which rebounded sharply in the fourth quarter of 2023. The company anticipates healthy demand for automotive-grade steel in the coming years. Demand and pricing for the service center market can be highly dependent on global and domestic commodity steel production capacity, demand for manufactured goods, scrap prices, the overall health of the global economy, import and export levels, international trade agreements, and currency fluctuations.

Cleveland-Cliffs Inc. is North America's largest flat-rolled steel producer and a major manufacturer of iron ore pellets, operating within the Basic Materials sector. The company is vertically integrated, managing the entire process from mining raw materials to primary steelmaking and downstream finishing. Its product portfolio includes various flat-rolled carbon steel products, stainless steel products, electrical steel products, steel plates, tin mill products, and long steel products. Additionally, Cleveland-Cliffs produces iron ore pellets, direct reduced iron, hot-briquetted iron, coke, coal, slab, rail, scrap, and offers tool and die, stamped components, and tubular components. The company is a leading supplier of steel to the North American automotive industry.

Headquartered in Cleveland, Ohio, Cleveland-Cliffs Inc. maintains a significant operational presence across the United States and Canada. Its facilities include iron ore mines in Minnesota and Michigan, a hot-briquetted iron facility in Toledo, Ohio, and coke-making facilities in Burns Harbor, Indiana; Monessen, Pennsylvania; and Warren, Ohio. The company also operates a coal mine in Princeton, West Virginia. Steelmaking operations are located in Kentucky, Indiana, Illinois, Ohio, Michigan, Pennsylvania, West Virginia, North Carolina, and Ontario, Canada. The majority of Cleveland-Cliffs' revenue is generated from its operations in the United States.

Cleveland-Cliffs has received recognition in several Forbes lists, including "America's Best-In-State Companies (2026)," "Best Employers for Veterans (2025)," and "America's Best Large Employers (2025)." The company also reported its safest year in 2024, achieving its lowest Total Recordable Incident Rate. CEO Lourenco Goncalves has publicly supported steel tariffs. However, in August 2025, Cleveland-Cliffs was involved in a lawsuit in Cuyahoga County.

Institutional investors hold a substantial portion of Cleveland-Cliffs Inc. stock, with approximately 61% of the company owned by institutions as of January 2026. The top 25 shareholders collectively own 43% of the company. CEO C. Lourenco Goncalves directly holds 0.8% of the total shares outstanding.