Wells Fargo raises Cleveland-Cliffs stock target to USD 14.00

Published on 10/17/2026 at 19:15 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Revenue reached USD 5.20 billion in second quarter 2026. Cleveland-Cliffs stock stood at USD 12.12 on October 16, 2026, down 0.25 percent on NYSE.

Analyst target and results timing

Wells Fargo raised its Cleveland-Cliffs target from USD 12.00 to USD 14.00 on October 6, 2026.
Revenue reached USD 5.20 billion in the second quarter of 2026.
Cleveland-Cliffs stock last traded at USD 12.12 at 4:00 p.m. ET on October 16, 2026, down 0.25 percent versus the prior close.
Cleveland-Cliffs will publish third-quarter 2026 results on October 19, 2026.

CLF, US1858991011, Illustration mit AI erstellt.

Wells Fargo upgraded Cleveland-Cliffs and raised its target from USD 12.00 to USD 14.00 on October 6, 2026, putting the new target 15.51 percent above the October 16 price. According to Yahoo Finance, the bank moved its rating from Equal Weight to Overweight. CLF last traded at USD 12.12 on the NYSE on October 16, 2026 at 4:00 p.m. ET, down 0.25 percent versus the prior close.

Revenue reached USD 5.20 billion

Cleveland-Cliffs reported USD 5.20 billion of consolidated revenue and steel product sales of 4.0 million net tons for the second quarter of 2026. The quarter ended June 30, 2026. The revenue figure was higher than the USD 4.92 billion reported for the first quarter, while the company posted a net loss attributable to common shareholders of USD 145.00 million, or USD 0.25 per diluted share, in the second quarter. These figures come from the company's investor-relations materials at Cleveland-Cliffs.

Stock sits below its yearly high

The USD 12.12 price was 27.43 percent below the 52-week high of USD 16.70 and 56.79 percent above the 52-week low of USD 7.73 on October 16, 2026. Trading volume reached 24,906,473 shares, compared with an average volume of 18,849,264 shares. The difference puts the session volume 32.13 percent above its average.

Valuation and October 19 results

Cleveland-Cliffs had a market capitalization of USD 6.9 billion and a trailing price-to-earnings ratio of minus 7.26 as of October 16, 2026. Its dividend yield was 0.00 percent. The next scheduled company date is October 19, 2026, when Cleveland-Cliffs is due to release third-quarter results before the U.S. market opens and hold its earnings call at 8:30 a.m. ET, according to Cleveland-Cliffs.

Comparison with peers

CLF: minus 0.25 percent, P/E minus 7.26, market capitalization USD 6.9 billion

Nucor (NYSE, USD): plus 0.63 percent, P/E 20.44, market capitalization USD 58.1 billion

Steel Dynamics (NASDAQ, USD): minus 0.09 percent, P/E 21.81, market capitalization USD 34.5 billion

Price position after October 16

The stock's valuation remains distinct from the two larger steel peers, with negative trailing earnings contrasting with their positive ratios. The October 19 reporting date is the next scheduled point for a fresh operating update, while the Wells Fargo target provides the most recent dated analyst benchmark.