Cleveland-Cliffs (CLF) Stock Forecast, Price Target & Predictions


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CLF Stock Forecast


Cleveland-Cliffs stock forecast is as follows: an average price target of $16.50 (represents a 75.91% upside from CLF’s last price of $9.38) and a rating consensus of 'Buy', based on 18 wall street analysts offering a 1-year stock forecast.

CLF Price Target


The average price target for Cleveland-Cliffs (CLF) is $16.50 based on 1-year price targets from 18 Wall Street analysts in the past 3 months, with a price target range of $16.50 to $16.50. This represents a potential 75.91% upside from CLF's last price of $9.38.

CLF Analyst Ratings


Buy

According to 18 Wall Street analysts, Cleveland-Cliffs's rating consensus is 'Buy'. The analyst rating breakdown for CLF stock is 0 'Strong Buy' (0.00%), 9 'Buy' (50.00%), 6 'Hold' (33.33%), 3 'Sell' (16.67%), and 0 'Strong Sell' (0.00%).

Cleveland-Cliffs Price Target by Analyst


DateAnalystCompanyPrice TargetPrice when PublishedPrice Target/Price when PublishedPrice Target/Last Closing Price
Aug 27, 2024Martin EnglertSeaport Global$16.50$13.8519.18%75.91%
Jun 11, 2024Matthew KeyB.Riley Financial$23.00$14.8355.09%145.20%
Jun 06, 2024Gordon JohnsonGLJ Research$10.13$16.09-37.02%8.00%
May 20, 2024Christopher LaFeminaJefferies$22.00$17.5125.64%134.54%
Mar 28, 2024Gordon JohnsonGLJ Research$27.20$22.6420.14%189.98%
Sep 15, 2023Carlos De AlbaMorgan Stanley$19.00$14.6229.96%102.56%
Sep 15, 2023Curt WoodworthCredit Suisse$25.00$14.6271.00%166.52%
Jan 12, 2023Morgan Stanley$26.00$19.2335.21%177.19%
Jul 27, 2022Gordon JohnsonGLJ Research$13.44$16.34-17.75%43.28%
Jul 12, 2022Emily ChiengGoldman Sachs$24.00$15.0959.05%155.86%
Apr 25, 2022Curt WoodworthCredit Suisse$37.00$26.4240.07%294.46%
Apr 19, 2021Seth RosenfeldBNP Paribas$19.20$17.3910.41%104.69%

The latest Cleveland-Cliffs stock forecast, released on Aug 27, 2024 by Martin Englert from Seaport Global, set a price target of $16.50, which represents a 19.18% increase from the stock price at the time of the forecast ($13.85), and a 75.91% increase from CLF last price ($9.38).

Cleveland-Cliffs Price Target by Period


1M3M12M
# Anlaysts--5
Avg Price Target--$19.77
Last Closing Price$9.38$9.38$9.38
Upside/Downside-100.00%-100.00%110.77%

In the current month, the average price target of Cleveland-Cliffs stock is -, according to 0 Wall Street analyst offering twelve months forecast. The average price target represents a -100.00% decrease as opposed to Cleveland-Cliffs's last price of $9.38. This month's average price target is down NaN% compared to last quarter, and down -100.00% compared to last year.

Analyst Ratings Upgrades/Downgrades


DateCompanyPrevious RatingNew RatingRating Change
Sep 10, 2024Seaport GlobalBuyBuyHold
Aug 27, 2024Seaport GlobalNeutralBuyUpgrade
Aug 15, 2024Johnson RiceBuyBuyHold
Jun 11, 2024Raymond JamesStrong BuyMarket PerformDowngrade
Jun 11, 2024Seaport GlobalNeutralInitialise
Jun 06, 2024Johnson RiceBuyBuyHold
Jun 06, 2024JefferiesUnderperformUnderperformHold
Jun 06, 2024GLJ ResearchBuySellDowngrade
May 20, 2024JefferiesBuyBuyHold
May 20, 2024JefferiesHoldBuyInitialise
Apr 30, 2024Morgan StanleyEqual-WeightEqual-WeightHold
Apr 30, 2024B. RileyBuyBuyHold
Apr 09, 2024Wolfe ResearchUnderperformDowngrade
Mar 28, 2024GLJ ResearchSellBuyUpgrade
Mar 26, 2024Morgan StanleyEqual-WeightEqual-WeightHold
Sep 25, 2023JefferiesHoldDowngrade
Sep 25, 2023CitigroupNeutralBuyUpgrade
Sep 25, 2023Canaccord GenuityHoldDowngrade
Sep 25, 2023Raymond JamesStrong BuyUpgrade
Sep 25, 2023GuggenheimNeutralUpgrade
Sep 25, 2023Loop Capital MarketsBuyUpgrade
Sep 25, 2023Morgan StanleyOverweightEqual-WeightDowngrade
Sep 25, 2023Noble Capital MarketsMarket PerformDowngrade
Sep 25, 2023Goldman SachsBuySellDowngrade
Sep 25, 2023BarclaysUnderweightDowngrade
Sep 25, 2023BernsteinMarket PerformDowngrade
Sep 15, 2023Credit SuisseOutperformOutperformHold
Sep 15, 2023Morgan StanleyOverweightOverweightHold
Jan 11, 2023Morgan StanleyOverweightUpgrade
Dec 23, 2022B. Riley SecuritiesBuyBuyHold
Oct 06, 2022Goldman SachsBuyBuyHold
Sep 27, 2022B. Riley SecuritiesBuyBuyHold
Jul 30, 2022CitigroupNeutralNeutralHold
Jul 27, 2022B. RileyBuyBuyHold
Jul 27, 2022GLJ ResearchSellDowngrade
Jul 12, 2022Goldman SachsBuyBuyHold
Apr 25, 2022Credit SuisseOutperformOutperformHold
May 04, 2021Credit SuisseNeutralUpgrade
Jan 20, 2021KeyBancBuyBuyHold
Jan 20, 2021Exane BNP ParibasOutperformUpgrade

Cleveland-Cliffs's last stock rating was published by Seaport Global on Sep 10, 2024. The company gave CLF a "Buy" rating, the same as its previous rate.

Cleveland-Cliffs Financial Forecast


Cleveland-Cliffs Revenue Forecast

Dec 26Sep 26Jun 26Mar 26Dec 25Sep 25Jun 25Mar 25Dec 24Sep 24Jun 24Mar 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Dec 20Sep 20Jun 20Mar 20Dec 19Sep 19
Revenue-------------$5.61B$5.98B$5.29B$5.04B$5.65B$6.34B$5.96B$5.35B$6.00B$5.04B$4.05B$2.26B$1.65B$1.09B$359.10M$534.10M$555.60M
Avg Forecast$11.73B$10.56B$9.51B$8.56B$5.04B$5.33B$5.35B$5.00B$4.55B$4.72B$5.18B$5.34B$5.16B$5.58B$5.80B$5.21B$5.20B$5.78B$6.12B$5.40B$5.73B$5.64B$4.97B$4.22B$2.34B$1.60B$1.07B$304.16M$556.36M$534.20M
High Forecast$12.46B$11.22B$10.10B$9.10B$5.36B$5.66B$5.68B$5.19B$4.70B$4.82B$5.18B$5.34B$5.22B$5.67B$6.16B$5.54B$5.53B$5.78B$6.12B$5.40B$5.73B$5.64B$4.97B$4.22B$2.34B$1.60B$1.07B$304.16M$556.36M$534.20M
Low Forecast$11.08B$9.98B$8.99B$8.09B$4.76B$5.03B$5.05B$4.81B$4.36B$4.63B$5.18B$5.34B$5.11B$5.46B$5.48B$4.93B$4.92B$5.78B$6.12B$5.40B$5.73B$5.64B$4.97B$4.22B$2.34B$1.60B$1.07B$304.16M$556.36M$534.20M
# Analysts222211145444542211112222299955
Surprise %-------------1.00%1.03%1.02%0.97%0.98%1.03%1.10%0.93%1.06%1.02%0.96%0.96%1.03%1.02%1.18%0.96%1.04%

Cleveland-Cliffs's average Quarter revenue forecast for Dec 23 based on 5 analysts is $5.16B, with a low forecast of $5.11B, and a high forecast of $5.22B. CLF's average Quarter revenue forecast represents a -8.02% decrease compared to the company's last Quarter revenue of $5.61B (Sep 23).

Cleveland-Cliffs EBITDA Forecast

Dec 26Sep 26Jun 26Mar 26Dec 25Sep 25Jun 25Mar 25Dec 24Sep 24Jun 24Mar 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Dec 20Sep 20Jun 20Mar 20Dec 19Sep 19
# Analysts222211145444542211112222299955
EBITDA-------------$622.00M$784.00M$263.00M$130.00M$472.00M$1.14B$1.44B$1.42B$1.93B$1.29B$359.00M$245.70M$108.20M$-2.80M$-38.10M$104.40M$143.20M
Avg Forecast$1.82B$1.64B$1.47B$1.33B$781.37M$825.30M$828.22M$774.43M$705.35M$731.77M$802.74M$1.60B$798.83M$864.14M$897.97M$1.46B$-1.22B$923.50M$978.72M$1.33B$915.13M$901.35M$793.74M$460.17M$374.33M$256.26M$170.71M$-58.91M$88.91M$85.37M
High Forecast$1.93B$1.74B$1.57B$1.41B$830.02M$876.69M$879.78M$803.78M$728.96M$746.44M$802.74M$1.92B$808.12M$879.00M$953.88M$1.75B$-977.50M$923.50M$978.72M$1.59B$915.13M$901.35M$793.74M$552.21M$374.33M$256.26M$170.71M$-47.13M$88.91M$85.37M
Low Forecast$1.72B$1.55B$1.39B$1.25B$738.30M$779.81M$782.56M$745.09M$675.43M$717.10M$802.74M$1.28B$791.09M$845.83M$848.47M$1.17B$-1.47B$923.50M$978.72M$1.06B$915.13M$901.35M$793.74M$368.14M$374.33M$256.26M$170.71M$-70.69M$88.91M$85.37M
Surprise %-------------0.72%0.87%0.18%-0.11%0.51%1.16%1.09%1.55%2.14%1.62%0.78%0.66%0.42%-0.02%0.65%1.17%1.68%

5 analysts predict CLF's average Quarter EBITDA for Dec 23 to be $798.83M, with a high of $808.12M and a low of $791.09M. This is 28.43% upper than Cleveland-Cliffs's previous annual EBITDA (Sep 23) of $622.00M.

Cleveland-Cliffs Net Income Forecast

Dec 26Sep 26Jun 26Mar 26Dec 25Sep 25Jun 25Mar 25Dec 24Sep 24Jun 24Mar 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Dec 20Sep 20Jun 20Mar 20Dec 19Sep 19
# Analysts222211145444542211112222299955
Net Income-------------$264.00M$347.00M$-43.00M$-205.00M$152.00M$596.00M$801.00M$898.00M$1.27B$780.00M$41.00M$64.00M$-10.00M$-123.90M$-52.10M$63.20M$90.90M
Avg Forecast$238.68M$238.68M$234.00M$234.00M$80.62M$65.15M$26.12M$-149.17M$-213.79M$-145.82M$-2.67M$907.35M$-21.95M$200.88M$323.13M$824.86M$1.16B$232.66M$626.01M$749.87M$998.72M$1.05B$710.82M$52.55M$94.19M$-46.25M$-250.19M$-42.33M$119.61M$138.98M
High Forecast$258.00M$258.00M$252.94M$252.94M$87.14M$70.42M$28.23M$-44.20M$-121.47M$-135.37M$-2.47M$1.09B$-6.27M$294.31M$349.28M$989.83M$1.39B$232.66M$626.01M$899.85M$998.72M$1.05B$710.82M$63.07M$94.19M$-46.25M$-250.19M$-33.87M$119.61M$138.98M
Low Forecast$221.57M$221.57M$217.23M$217.23M$74.84M$60.47M$24.25M$-392.25M$-276.95M$-157.62M$-2.88M$725.88M$-40.77M$116.79M$299.97M$659.89M$927.10M$232.66M$626.01M$599.90M$998.72M$1.05B$710.82M$42.04M$94.19M$-46.25M$-250.19M$-50.80M$119.61M$138.98M
Surprise %-------------1.31%1.07%-0.05%-0.18%0.65%0.95%1.07%0.90%1.21%1.10%0.78%0.68%0.22%0.50%1.23%0.53%0.65%

Cleveland-Cliffs's average Quarter net income forecast for Dec 23 is $-21.95M, with a range of $-40.77M to $-6.27M. CLF's average Quarter net income forecast represents a -108.32% decrease compared to the company's last Quarter net income of $264.00M (Sep 23).

Cleveland-Cliffs SG&A Forecast

Dec 26Sep 26Jun 26Mar 26Dec 25Sep 25Jun 25Mar 25Dec 24Sep 24Jun 24Mar 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Dec 20Sep 20Jun 20Mar 20Dec 19Sep 19
# Analysts222211145444542211112222299955
SG&A-------------$144.00M$149.00M$127.00M$116.00M$124.00M$107.00M$122.00M$111.00M$112.00M$104.00M$95.00M$94.80M$59.60M$62.10M$26.10M$37.20M$25.50M
Avg Forecast$404.99M$364.72M$328.45M$295.79M$174.16M$183.95M$184.60M$172.62M$157.22M$163.11M$178.93M$138.20M$178.05M$192.61M$200.15M$125.63M$137.14M$199.58M$211.51M$114.21M$197.77M$194.79M$171.53M$121.77M$80.90M$55.38M$36.89M$21.21M$19.21M$18.45M
High Forecast$430.20M$387.42M$348.90M$314.21M$185.01M$195.41M$196.10M$179.16M$162.48M$166.38M$178.93M$165.84M$180.12M$195.92M$212.61M$150.76M$164.56M$199.58M$211.51M$137.06M$197.77M$194.79M$171.53M$146.13M$80.90M$55.38M$36.89M$25.45M$19.21M$18.45M
Low Forecast$382.66M$344.61M$310.35M$279.49M$164.56M$173.81M$174.43M$166.07M$150.55M$159.84M$178.93M$110.56M$176.33M$188.53M$189.12M$100.51M$109.71M$199.58M$211.51M$91.37M$197.77M$194.79M$171.53M$97.42M$80.90M$55.38M$36.89M$16.96M$19.21M$18.45M
Surprise %-------------0.75%0.74%1.01%0.85%0.62%0.51%1.07%0.56%0.57%0.61%0.78%1.17%1.08%1.68%1.23%1.94%1.38%

Cleveland-Cliffs's average Quarter SG&A projection for Dec 23 is $178.05M, based on 5 Wall Street analysts, with a range of $176.33M to $180.12M. The forecast indicates a 23.65% rise compared to CLF last annual SG&A of $144.00M (Sep 23).

Cleveland-Cliffs EPS Forecast

Dec 26Sep 26Jun 26Mar 26Dec 25Sep 25Jun 25Mar 25Dec 24Sep 24Jun 24Mar 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Dec 20Sep 20Jun 20Mar 20Dec 19Sep 19
# Analysts222211145444542211112222299955
EPS-------------$0.52$0.68$-0.08$-0.39$0.30$1.14$1.54$1.79$2.46$1.40$0.08$0.15$-0.02$-0.31$-0.18$0.23$0.34
Avg Forecast$0.51$0.51$0.50$0.50$0.17$0.14$0.06$-0.32$-0.46$-0.31$-0.01$0.22$-0.05$0.43$0.69$-0.20$-0.34$0.49$1.32$1.46$2.11$2.22$1.50$0.35$0.20$-0.10$-0.53$-0.18$0.25$0.29
High Forecast$0.55$0.55$0.54$0.54$0.19$0.15$0.06$-0.09$-0.26$-0.29$-0.01$0.22$-0.01$0.63$0.75$-0.18$-0.32$0.49$1.32$1.48$2.11$2.22$1.50$0.35$0.20$-0.10$-0.53$-0.18$0.25$0.29
Low Forecast$0.47$0.47$0.46$0.46$0.16$0.13$0.05$-0.84$-0.59$-0.34$-0.01$0.22$-0.09$0.25$0.64$-0.21$-0.37$0.49$1.32$1.45$2.11$2.22$1.50$0.35$0.20$-0.10$-0.53$-0.18$0.25$0.29
Surprise %-------------1.21%0.98%0.42%1.13%0.61%0.86%1.05%0.85%1.11%0.93%0.23%0.75%0.20%0.59%0.98%0.91%1.16%

According to 5 Wall Street analysts, Cleveland-Cliffs's projected average Quarter EPS for Dec 23 is $-0.05, with a low estimate of $-0.09 and a high estimate of $-0.01. This represents a -109.02% decrease compared to CLF previous annual EPS of $0.52 (Sep 23).

Cleveland-Cliffs Peer Comparison by Price Target


TickerCompanyLast Closing PriceAvg Price TargetUpside/DownsideAvg Rating
PKXPOSCO$45.73$77.0068.38%Hold
CLFCleveland-Cliffs$9.89$16.5066.84%Buy
TXTernium$30.31$50.0064.96%Buy
GGBGerdau$3.31$5.0051.06%Buy
XUnited States Steel$31.94$42.8634.19%Buy
MTArcelorMittal$23.97$31.0029.33%Buy
NUENucor$120.98$154.7527.91%Hold
STLDSteel Dynamics$118.58$145.6022.79%Buy
RSReliance Steel & Aluminum$280.07$325.0016.04%Buy
CMCCommercial Metals Company$54.16$62.0014.48%Buy

CLF Forecast FAQ


Is Cleveland-Cliffs a good buy?

Yes, according to 18 Wall Street analysts, Cleveland-Cliffs (CLF) is considered a 'Buy'. The rating consensus is based on 0 'Strong Buy' and 9 'Buy' recommendations, accounting for 50.00% of CLF's total ratings.

What is CLF's price target?

Cleveland-Cliffs (CLF) average price target is $16.5 with a range of $16.5 to $16.5, implying a 75.91% from its last price of $9.38. The data is based on 18 Wall Street analysts who provided a twelve-month price target estimate in the last three months.

Will Cleveland-Cliffs stock go up soon?

According to Wall Street analysts' prediction for CLF stock, the company can go up by 75.91% (from the last price of $9.38 to the average price target of $16.5), up by 75.91% based on the highest stock price target, and up by 75.91% based on the lowest stock price target.

Can Cleveland-Cliffs stock reach $14?

CLF's average twelve months analyst stock price target of $16.5 supports the claim that Cleveland-Cliffs can reach $14 in the near future.

What are Cleveland-Cliffs's analysts' financial forecasts?

Cleveland-Cliffs's analysts financial forecasts for the fiscal year (Dec 2025) are as follows: average revenue is $20.71B (high $21.88B, low $19.66B), average EBITDA is $3.21B (high $3.39B, low $3.05B), average net income is $22.72M (high $141.6M, low $-233M), average SG&A $715.33M (high $755.66M, low $678.87M), and average EPS is $0.0485 (high $0.303, low $-0.497). CLF's analysts financial forecasts for the fiscal year (Dec 2026) are as follows: average revenue is $40.36B (high $42.88B, low $38.14B), average EBITDA is $6.25B (high $6.64B, low $5.91B), average net income is $945.36M (high $1.02B, low $877.61M), average SG&A $1.39B (high $1.48B, low $1.32B), and average EPS is $2.02 (high $2.18, low $1.88).

Did the CLF's actual financial results beat the analysts' financial forecasts?

Based on Cleveland-Cliffs's last annual report (Dec 2022), the company's revenue was $22.99B, beating the average analysts forecast of $22.5B by 2.16%. Apple's EBITDA was $3.18B, beating the average prediction of $2.01B by 58.78%. The company's net income was $1.34B, missing the average estimation of $2.77B by -51.76%. Apple's SG&A was $465M, missing the average forecast of $662.44M by -29.81%. Lastly, the company's EPS was $2.57, missing the average prediction of $2.93 by -12.29%. In terms of the last quarterly report (Sep 2023), Cleveland-Cliffs's revenue was $5.6B, beating the average analysts' forecast of $5.58B by 0.50%. The company's EBITDA was $622M, missing the average prediction of $864.14M by -28.02%. Cleveland-Cliffs's net income was $264M, beating the average estimation of $200.88M by 31.42%. The company's SG&A was $144M, missing the average forecast of $192.61M by -25.24%. Lastly, the company's EPS was $0.52, beating the average prediction of $0.429 by 21.15%