Insider Selling: Cleveland-Cliffs (NYSE:CLF) CEO Sells 3,000,000 Shares of Stock

Cleveland-Cliffs Inc. (NYSE:CLF) CEO Lourenco Goncalves sold 3,000,000 shares of Cleveland-Cliffs stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $12.42, for a total transaction of $37,260,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Cleveland-Cliffs Stock Up 1.6%

Shares of CLF stock traded up $0.20 on Wednesday, hitting $12.47. The stock had a trading volume of 24,268,102 shares, compared to its average volume of 17,581,370. The stock’s 50 day moving average is $13.44 and its 200-day moving average is $12.27. The firm has a market capitalization of $7.11 billion, a price-to-earnings ratio of -4.27 and a beta of 1.93. Cleveland-Cliffs Inc. has a 52-week low of $5.63 and a 52-week high of $16.70. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.61 and a current ratio of 1.95.

Cleveland-Cliffs (NYSE:CLF) last released its quarterly earnings results on Monday, February 9th. The mining company reported ($0.43) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.62) by $0.19. Cleveland-Cliffs had a negative net margin of 7.91% and a negative return on equity of 18.94%. The firm had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.60 billion. During the same quarter in the previous year, the firm posted ($0.68) EPS. The firm’s quarterly revenue was down .3% on a year-over-year basis. As a group, research analysts expect that Cleveland-Cliffs Inc. will post -0.79 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CLF. Hunter Associates Investment Management LLC grew its position in Cleveland-Cliffs by 43.5% in the 2nd quarter. Hunter Associates Investment Management LLC now owns 70,898 shares of the mining company’s stock valued at $538,000 after buying an additional 21,498 shares in the last quarter. Quantbot Technologies LP raised its position in shares of Cleveland-Cliffs by 66.5% during the 2nd quarter. Quantbot Technologies LP now owns 794,437 shares of the mining company’s stock worth $6,038,000 after buying an additional 317,352 shares in the last quarter. First Dallas Securities Inc. lifted its stake in shares of Cleveland-Cliffs by 27.2% in the 2nd quarter. First Dallas Securities Inc. now owns 312,040 shares of the mining company’s stock worth $2,372,000 after acquiring an additional 66,800 shares during the period. Y Intercept Hong Kong Ltd boosted its holdings in shares of Cleveland-Cliffs by 1,525.1% in the third quarter. Y Intercept Hong Kong Ltd now owns 420,927 shares of the mining company’s stock valued at $5,135,000 after acquiring an additional 395,026 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its holdings in shares of Cleveland-Cliffs by 37.4% in the second quarter. State of New Jersey Common Pension Fund D now owns 270,221 shares of the mining company’s stock valued at $2,054,000 after acquiring an additional 73,517 shares in the last quarter. 67.68% of the stock is currently owned by institutional investors.

Key Headlines Impacting Cleveland-Cliffs

Here are the key news stories impacting Cleveland-Cliffs this week:

• Positive Sentiment: Q4 EPS beat and narrowed loss; management gave a constructive 2026 outlook pointing to cost discipline, steady capex (~$700M) and modest shipment growth (≈16.8M tons) that could drive recovery. Article Title
• Positive Sentiment: Auto market wins and trade shifts (tariffs supporting domestic steel) are presented as key drivers for 2026 volume and pricing recovery, which would disproportionately improve free cash flow as fixed costs are absorbed. Article Title
• Neutral Sentiment: Earnings call transcripts and analyst notes were published (useful for detail on guidance, Q1 cost outlook and the POSCO update) but provided mixed clarity; details should be parsed for cadence of shipments, contract resets and cost assumptions. Article Title
• Negative Sentiment: Revenue missed estimates (~6% miss), which triggered a sharp market selloff (reports of ~16–19% intraday declines) and spooked momentum traders. Article Title
• Negative Sentiment: POSCO partnership remained ambiguous on the call (timing and terms unclear), raising doubts about a near-term equity investment and removing a potential catalyst for the stock. Article Title
• Negative Sentiment: Analyst downside pressure (GLJ Research cut its price target and keeps a sell rating) plus public remarks from commentators (e.g., Jim Cramer) emphasizing weak macro activity and tariff-related headwinds. Article Title

Analyst Upgrades and Downgrades

CLF has been the subject of a number of analyst reports. Citigroup increased their price target on Cleveland-Cliffs from $11.00 to $13.00 and gave the company a “neutral” rating in a report on Monday. UBS Group set a $15.00 target price on Cleveland-Cliffs in a research note on Monday, October 27th. Glj Research decreased their price target on shares of Cleveland-Cliffs from $9.52 to $9.42 and set a “sell” rating for the company in a research report on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cleveland-Cliffs in a report on Tuesday, January 27th. Finally, KeyCorp downgraded shares of Cleveland-Cliffs from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, January 7th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $13.89.

About Cleveland-Cliffs

Cleveland-Cliffs Inc is a leading North American producer of iron ore pellets and flat-rolled steel products. Tracing its roots to 1847, the company has evolved from an iron-ore mining concern in the Great Lakes region into a fully integrated steelmaker. Today, Cleveland-Cliffs operates iron ore mining complexes in Michigan and Minnesota as well as steelmaking and finishing facilities across the United States.

The company’s integrated platform begins with direct control of key raw materials, including iron ore and scrap, and extends through every stage of steel production.