Cleveland-Cliffs (CLF) Stock Forecast, Price Target & Predictions
CLF Stock Forecast
Cleveland-Cliffs stock forecast is as follows: an average price target of $19.85 (represents a 67.09% upside from CLF’s last price of $11.88) 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 $19.85 based on 1-year price targets from 18 Wall Street analysts in the past 3 months, with a price target range of $25.00 to $10.13. This represents a potential 67.09% upside from CLF's last price of $11.88.
CLF Analyst Ratings
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
| Date | Analyst | Company | Price Target | Price when Published | Price Target/Price when Published | Price Target/Last Closing Price |
|---|---|---|---|---|---|---|
| Aug 27, 2024 | Martin Englert | Seaport Global | - | - | 19.18% | 38.89% |
| Jun 11, 2024 | Matthew Key | B.Riley Financial | - | - | 55.09% | 93.60% |
| Jun 06, 2024 | Gordon Johnson | GLJ Research | - | - | -37.02% | -14.73% |
| May 20, 2024 | Christopher LaFemina | Jefferies | - | - | 25.64% | 85.19% |
| Mar 28, 2024 | Gordon Johnson | GLJ Research | - | - | 20.14% | 128.96% |
| Sep 15, 2023 | Curt Woodworth | Credit Suisse | - | - | 71.00% | 110.44% |
| Sep 15, 2023 | Carlos De Alba | Morgan Stanley | - | - | 29.96% | 59.93% |
| Jan 12, 2023 | Morgan Stanley | - | - | 35.21% | 118.86% | |
| Jul 27, 2022 | Gordon Johnson | GLJ Research | - | - | -17.75% | 13.13% |
| Jul 12, 2022 | Emily Chieng | Goldman Sachs | - | - | 59.05% | 102.02% |
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 38.89% increase from CLF last price ($11.88).
Cleveland-Cliffs Price Target by Period
| 1M | 3M | 12M | |
|---|---|---|---|
| # Anlaysts | - | 1 | 5 |
| Avg Price Target | - | $16.50 | $19.77 |
| Last Closing Price | $11.88 | $11.88 | $11.88 |
| Upside/Downside | -100.00% | 38.89% | 66.41% |
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 $11.88. This month's average price target is down -100.00% compared to last quarter, and down -100.00% compared to last year.
Analyst Ratings Upgrades/Downgrades
| Date | Company | Previous Rating | New Rating | Rating Change |
|---|---|---|---|---|
| Sep 10, 2024 | Seaport Global | Buy | Buy | Hold |
| Aug 27, 2024 | Seaport Global | Neutral | Buy | Upgrade |
| Aug 15, 2024 | Johnson Rice | Buy | Buy | Hold |
| Jun 11, 2024 | Raymond James | Strong Buy | Market Perform | Downgrade |
| Jun 11, 2024 | Seaport Global | Neutral | Initialise | |
| Jun 06, 2024 | Johnson Rice | Buy | Buy | Hold |
| Jun 06, 2024 | Jefferies | Underperform | Underperform | Hold |
| Jun 06, 2024 | GLJ Research | Buy | Sell | Downgrade |
| May 20, 2024 | Jefferies | Buy | Buy | Hold |
| May 20, 2024 | Jefferies | Hold | Buy | Initialise |
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 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | Jun 20 | Mar 20 | Dec 19 | Sep 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 | $5.23B | $5.24B | $4.92B | $4.53B | $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 | $12.25B | $11.03B | $9.94B | $8.95B | $5.27B | $5.46B | $5.47B | $5.13B | $4.91B | $4.82B | $5.18B | $5.34B | $5.22B | $5.67B | $6.06B | $5.45B | $5.44B | $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 | $11.18B | $10.07B | $9.06B | $8.16B | $4.81B | $4.98B | $4.99B | $4.71B | $4.29B | $4.63B | $5.18B | $5.34B | $5.11B | $5.46B | $5.52B | $4.97B | $4.96B | $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 |
| # Analysts | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 3 | 4 | 2 | 4 | 4 | 5 | 4 | 2 | 2 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 9 | 9 | 9 | 5 | 5 |
| 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 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | Jun 20 | Mar 20 | Dec 19 | Sep 19 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 3 | 4 | 2 | 4 | 4 | 5 | 4 | 2 | 2 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 9 | 9 | 9 | 5 | 5 |
| 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 | $809.78M | $811.42M | $762.48M | $702.64M | $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 | $1.90B | $1.71B | $1.54B | $1.39B | $816.45M | $846.13M | $847.84M | $794.46M | $761.45M | $746.44M | $802.74M | $1.92B | $808.12M | $879.00M | $938.28M | $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 | $1.73B | $1.56B | $1.40B | $1.26B | $744.75M | $771.82M | $773.38M | $730.51M | $663.95M | $717.10M | $802.74M | $1.28B | $791.09M | $845.83M | $855.88M | $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 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | Jun 20 | Mar 20 | Dec 19 | Sep 19 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 3 | 4 | 2 | 4 | 4 | 5 | 4 | 2 | 2 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 9 | 9 | 9 | 5 | 5 |
| 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 | $60.96M | $35.38M | $6.74M | $-93.15M | $-201.94M | $-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 | $252.61M | $252.61M | $247.66M | $247.66M | $64.52M | $37.44M | $7.13M | $32.88M | $-106.58M | $-136.93M | $-2.50M | $1.09B | $-6.27M | $294.31M | $341.99M | $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 | $224.13M | $224.13M | $219.74M | $219.74M | $57.25M | $33.22M | $6.33M | $-186.29M | $-274.86M | $-154.33M | $-2.82M | $725.88M | $-40.77M | $116.79M | $303.44M | $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 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | Jun 20 | Mar 20 | Dec 19 | Sep 19 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 3 | 4 | 2 | 4 | 4 | 5 | 4 | 2 | 2 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 9 | 9 | 9 | 5 | 5 |
| 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 | $180.49M | $180.86M | $169.95M | $156.61M | $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 | $423.17M | $381.09M | $343.20M | $309.07M | $181.98M | $188.60M | $188.98M | $177.08M | $169.72M | $166.38M | $178.93M | $165.84M | $180.12M | $195.92M | $209.14M | $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 | $386.01M | $347.62M | $313.06M | $281.93M | $166.00M | $172.03M | $172.38M | $162.83M | $147.99M | $159.84M | $178.93M | $110.56M | $176.33M | $188.53M | $190.77M | $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 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | Jun 20 | Mar 20 | Dec 19 | Sep 19 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 3 | 4 | 2 | 4 | 4 | 5 | 4 | 2 | 2 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 9 | 9 | 9 | 5 | 5 |
| 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 | $0.13 | $0.08 | $0.01 | $-0.20 | $-0.43 | $-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 | $0.54 | $0.54 | $0.53 | $0.53 | $0.14 | $0.08 | $0.02 | $0.07 | $-0.23 | $-0.29 | $-0.01 | $0.22 | $-0.01 | $0.63 | $0.73 | $-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 | $0.48 | $0.48 | $0.47 | $0.47 | $0.12 | $0.07 | $0.01 | $-0.40 | $-0.59 | $-0.33 | $-0.01 | $0.22 | $-0.09 | $0.25 | $0.65 | $-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
| Ticker | Company | Last Closing Price | Avg Price Target | Upside/Downside | Avg Rating |
|---|---|---|---|---|---|
| SCHN | Schnitzer Steel Industries | - | - | 547.59% | |
| CLF | Cleveland-Cliffs | - | - | 67.09% | Buy |
| TX | Ternium | - | - | 49.79% | Buy |
| GGB | Gerdau | - | - | 47.49% | Buy |
| MT | ArcelorMittal | - | - | 45.79% | Buy |
| PKX | POSCO | - | - | 41.54% | Hold |
| NUE | Nucor | - | - | 0.08% | Hold |
| CMC | Commercial Metals Company | - | - | -1.14% | Buy |
| STLD | Steel Dynamics | - | - | -7.56% | Buy |
| X | United States Steel | - | - | -10.96% | Buy |
| RS | Reliance Steel & Aluminum | - | - | -12.30% | Buy |