Cleveland-Cliffs (CLF) Stock News

Cleveland-Cliffs swung to a Q3 profit, guided Q4 EBITDA above consensus, and projected 2027 adjusted EBITDA exceeding $4 billion, citing trade policy and tight supply. Shares jumped 11-14% premarket.

Cleveland-Cliffs: 2027 outlook improved materially since last earnings call.

Cleveland-Cliffs said it is on track to reach its leverage target of under 2.5x net debt to EBITDA by the middle of 2027. The statement came alongside the company's third-quarter earnings release.

Cleveland-Cliffs: trade environment supports healthy US steel industry.

Cleveland-Cliffs posted $5.6 billion in third-quarter revenue. The headline figure is from a Dow Jones wire. No profit or per-share data was included. The result offers a snapshot of steel demand and pricing during the quarter.

Cleveland-Cliffs third-quarter adjusted EBITDA $612 million.

Cleveland-Cliffs expects 4Q adjusted EBITDA to rise further.

Canada's Industry Minister Melanie Joly said Cleveland-Cliffs must keep jobs at Stelco or face potential forced sale of Canadian assets under the Investment Canada Act. Cliffs CEO Lourenco Goncalves defends layoffs as necessary due to tariffs and market conditions.

The CEO of Cleveland-Cliffs said the planned layoffs at Stelco are lawful. No further details were provided.

Cleveland-Cliffs CEO: Stelco Business Remains Strong, Focusing on Hot-Roll Production.

Cleveland-Cliffs CEO stated that tariffs are pressuring the galvanized steel market.

JP Morgan lowered its price target for Cleveland-Cliffs from $13.00 to $12.00 per share.

Wells Fargo upgrades Cleveland-Cliffs to Buy, price target $14.

Wells Fargo raised its rating on Cleveland-Cliffs (CLF) to Overweight from Equal-Weight.

Cleveland-Cliffs is hosting U.S. Energy Secretary Chris Wright and other officials at its Butler Works facility to showcase a $200 million GOES expansion project supported by a $75 million DOE award. The project will increase production capacity by up to 25% and is expected to complete in early 2028.

Canadian Prime Minister Carney expressed disappointment over Cleveland-Cliffs' decision to idle part of its Hamilton, Ontario plant. He stated Canada will use all available powers to ensure the company meets its obligations.

U.S. steel and aluminum stocks trimmed their advances late in the session. Cleveland-Cliffs was last up 0.4% and Nucor up 0.2%, off their earlier highs.