---
title: "Weekly Recap | Cleveland Cliffs +14.69%, earnings beat expectations"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/302949970.md"
description: "Cleveland Cliffs (CLF) gained 14.69% this week to close at $13.90, against a 0.47% decline in the S&P 500, outperforming by about 15.16 percentage points. The week opened at $14.20, reached a high of $14.58 and a low of $12.625, then eased back before a late bounce to $13.90. Daily turnover averaged 43.58 million shares, well above the recent median, so the price recovery came with unusually heavy trading."
datetime: "2026-10-24T06:06:01.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/302949970.md)
  - [en](https://longbridge.com/en/news/302949970.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/302949970.md)
generator: "portal-rs"
---

# Weekly Recap | Cleveland Cliffs +14.69%, earnings beat expectations

## The Week

Cleveland Cliffs (CLF) gained 14.69% this week to close at $13.90, against a 0.47% decline in the S&P 500, outperforming by about 15.16 percentage points. The week opened at $14.20, reached a high of $14.58 and a low of $12.625, then eased back before a late bounce to $13.90. Daily turnover averaged 43.58 million shares, well above the recent median, so the price recovery came with unusually heavy trading.

## Key Events

Early in the week, Cleveland Cliffs reported third-quarter results and lifted its 2027 outlook. Adjusted EBITDA more than doubled from the prior quarter to $612 million, and the company posted its first quarterly profit in two years. Management said steel prices had not peaked and pointed to tariffs as a support for next year. The stock jumped as much as 18% intraday on Monday, with call option activity picking up sharply. Later in the week, Canadian officials repeatedly raised the possibility of forcing the company to sell its Ontario steel plant, and the prime minister said Cleveland Cliffs must meet its obligations. That debate continued through Friday, but weekly gains held.

## Analyst Ratings

Thirteen firms cover Cleveland Cliffs: 2 rate it buy, 10 rate it hold, and 1 rates it underweight. The stock ranks 5th out of 20 steel companies covered by the industry group. The consensus rating is hold, with a consensus target of $14.05, about 1.08% above the latest price. Individual targets range from $12.00 to $18.00, pointing to a wide spread of views on how quickly earnings can recover.

## The Week Ahead

Next week’s macro calendar includes durable goods orders, new home sales, and consumer confidence on 27 October. Durable goods orders are expected to rebound to 1.5 from a prior -0.1, a soft print could pressure cyclical names. On the company side, fourth-quarter fiscal 2026 results are scheduled for 25 January 2027, so near-term attention stays on steel prices and any further Canadian regulatory moves.

## In Short

Cleveland Cliffs outperformed the market this week on an earnings beat and a higher outlook, but analyst ratings remain mostly hold, targets are widely spread, and the latest daily flow data show large-lot money as a net seller. The tension is between a strong cyclical setup and still divided conviction. The next test is whether macro data and the Canadian story keep the rally intact or widen the pullback.

*This article is generated by LongbridgeAI from market data, for information only and not investment advice.*

### Related Stocks

- [CLF.US](https://longbridge.com/en/quote/CLF.US.md)

## Related News & Research

- [Cleveland-Cliffs consensus price target increased by 10.73% to $14.38](https://longbridge.com/en/news/302810908.md)
- [Canada says it could force Cleveland-Cliffs to sell Ontario steel plant](https://longbridge.com/en/news/302437923.md)
- [Cleveland-Cliffs Stock Forecast: $4 Billion 2027 EBITDA Target Sparks 16% Triangle Breakout](https://longbridge.com/en/news/302409312.md)
- [Cleveland-Cliffs Non-GAAP EPS of $0.28 beats by $0.04, revenue of $5.61B misses by $110M](https://longbridge.com/en/news/302272661.md)
- [Cleveland-Cliffs CEO praises Trump after big Q3 earnings beat, blames Canada for Stelco layoffs](https://longbridge.com/en/news/302315221.md)

---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**