Cleveland-Cliffs Inc. Experiences Surge in Share Price Amid Strong Financial Performance

Cleveland-Cliffs Inc. (NYSE: CLF), a leading materials company specializing in metals and mining, has seen a significant rise in its share price following a series of positive financial developments. The company, headquartered in Cleveland, Ohio, is known for its production of custom-made pellets, hot briquetted iron (HBI), and various steel products.

On July 23, 2025, Cleveland-Cliffs shares surged by 7.6% after the company reported stronger-than-expected earnings. The stock traded as high as $11.96 and closed at $11.47, with 15,107,056 shares changing hands during the trading session. This increase followed a series of favorable financial reports and strategic moves by the company.

Earlier in the week, Cleveland-Cliffs announced that its revenue for the second quarter of 2025 exceeded estimates. The company reported a non-GAAP loss per share of $0.50, which was better than the anticipated loss of $0.71. Despite the results remaining negative, the improved performance contributed to investor confidence.

The company’s financial success was further bolstered by a price target upgrade from KeyBanc, which led to a 12.45% jump in share price on July 22. This upgrade was part of a broader trend of positive analyst sentiment, with KeyBanc upgrading Cleveland-Cliffs to “Overweight.”

In addition to its strong earnings, Cleveland-Cliffs has been actively managing its operations to improve its financial outlook. The company has implemented cost-cutting measures and benefited from tariffs on steel imports, which have contributed to a stronger financial position. Cleveland-Cliffs is also exploring the sale of non-core assets, with the potential to generate billions in revenue.

The company’s CEO has been vocal about the need for protective measures against steel imports, calling on Canada to build a “wall of protection.” This stance aligns with the company’s strategic focus on strengthening its market position in the face of global competition.

Overall, Cleveland-Cliffs’ recent financial performance and strategic initiatives have positioned it well for future growth, as reflected in the positive market response and increased investor interest.