Fintel reports that on January 7, 2025, GLJ Research upgraded their outlook for Cleveland-Cliffs (NYSE:CLF) from Sell to Buy.
Analyst Price Forecast Suggests 42.08% Upside
As of December 23, 2024, the average one-year price target for Cleveland-Cliffs is $14.29/share. The forecasts range from a low of $8.08 to a high of $22.05. The average price target represents an increase of 42.08% from its latest reported closing price of $10.06 / share.
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The projected annual revenue for Cleveland-Cliffs is 18,788MM, a decrease of 5.93%. The projected annual non-GAAP EPS is 1.30.
What is the Fund Sentiment?
There are 1,035 funds or institutions reporting positions in Cleveland-Cliffs. This is an decrease of 62 owner(s) or 5.65% in the last quarter. Average portfolio weight of all funds dedicated to CLF is 0.15%, an increase of 18.21%. Total shares owned by institutions increased in the last three months by 1.64% to 413,916K shares. 
The put/call ratio of CLF is 0.46, indicating a bullish outlook.
What are Other Shareholders Doing?
Pacer Advisors holds 25,894K shares representing 5.24% ownership of the company. In its prior filing, the firm reported owning 22,520K shares , representing an increase of 13.03%. The firm decreased its portfolio allocation in CLF by 11.01% over the last quarter.
COWZ - Pacer US Cash Cows 100 ETF holds 22,869K shares representing 4.63% ownership of the company. In its prior filing, the firm reported owning 11,401K shares , representing an increase of 50.15%. The firm increased its portfolio allocation in CLF by 64.59% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 14,662K shares representing 2.97% ownership of the company. In its prior filing, the firm reported owning 15,061K shares , representing a decrease of 2.72%. The firm decreased its portfolio allocation in CLF by 24.13% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 14,631K shares representing 2.96% ownership of the company. In its prior filing, the firm reported owning 14,790K shares , representing a decrease of 1.08%. The firm decreased its portfolio allocation in CLF by 25.03% over the last quarter.
Slate Path Capital holds 11,969K shares representing 2.42% ownership of the company. In its prior filing, the firm reported owning 8,346K shares , representing an increase of 30.27%. The firm decreased its portfolio allocation in CLF by 3.74% over the last quarter.
Cleveland-Cliffs Background Information
(This description is provided by the company.)
Cleveland-Cliffs, Inc. (Cliffs) is the largest flat-rolled steel producer in North America. Founded in 1847 as a mine operator, the company is also the largest producer of iron ore pellets in North America. In 2020, Cliffs acquired two major steelmakers, AK Steel and ArcelorMittal USA, vertically integrating its legacy iron ore business with quality-focused steel production and emphasis on the automotive end market. Its fully integrated portfolio includes custom-made pellets and hot briquetted iron (HBI); flat-rolled carbon steel, stainless, electrical, plate, tinplate and long steel products; as well as carbon and stainless steel tubing, hot and cold stamping and tooling. Headquartered in Cleveland, Ohio, Cliffs employ approximately 25,000 people across its mining, steel and downstream manufacturing operations in the United States and Canada.
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