Cleveland-Cliffs stock gains 2.71 percent to USD 12.87

Cleveland-Cliffs stock gained 2.71 percent to USD 12.87 at the official close on the NYSE on September 23, 2026. The share price remains USD 3.83 below its 52-week high of USD 16.70, a gap of 22.93 percent. GLJ Research maintained a Buy rating and a USD 15.60 price target on September 18, 2026, according to MarketBeat.

Revenue reaches USD 5.23 billion

Cleveland-Cliffs reported USD 5.23 billion in consolidated revenue for the second quarter of 2026, up 5.9 percent from the same quarter a year earlier. The company also sold 4.0 million net tons of steel products in the quarter, according to its investor relations page dated for the quarter ended June 30, 2026.

The operating picture is stronger on sales than on earnings. Cleveland-Cliffs posted an adjusted loss of USD 0.20 per share, narrowly ahead of the USD 0.21 analyst consensus, while revenue exceeded the USD 5.15 billion estimate, as reported by MarketBeat.

Analyst target sits above the market

GLJ Research's USD 15.60 target stands USD 2.73 above the September 23 closing price, or 21.21 percent higher. The rating therefore points to a valuation gap, but the wider analyst picture remains balanced: MarketBeat cited two Buy ratings, seven Holds and two Sells, with an average target of USD 12.06.

Stock stays below yearly high

The September 23 close of USD 12.87 was supported by a USD 0.34 daily gain and trading volume of 20,081,998 shares. Cleveland-Cliffs had a market capitalization of USD 7,342,849,800 on that date, while the 52-week range ran from USD 7.73 to USD 16.70. For investors, the central tension is clear: quarterly revenue is growing, but the company is still reporting a loss and the stock remains below its yearly high.