CLEVELAND-CLIFFS INC. (CLF) Stock Analysis — April 2026 Rating, Price, and Forecast
Company Overview — What Does CLEVELAND-CLIFFS INC. Do?
Cleveland-Cliffs Inc. operates as a flat-rolled steel producer in North America. The company offers carbon steel products, such as hot-rolled, cold-rolled, electrogalvanized, hot-dip galvanized, hot-dip galvannealed, aluminized, enameling, and advanced high-strength steel products; stainless steel products; plates; and grain oriented and non-oriented electrical steel products. It also provides tubular components, including carbon steel, stainless steel, and electric resistance welded tubing. In addition, the company offers tinplate products, such as electrolytic tin coated and chrome coated sheet, and tin mill products; tooling and sampling; raw materials; ingots, rolled blooms, and cast blooms; and hot-briquetted iron products. Further, it owns five iron ore mines in Minnesota and Michigan. The company serves automotive, infrastructure and manufacturing, distributors and converters, and steel producers. Cleveland-Cliffs Inc. was formerly known as Cliffs Natural Resources Inc. and changed its name to Cleveland-Cliffs Inc. in August 2017. The company was founded in 1847 and is headquartered in Cleveland, Ohio. CLEVELAND-CLIFFS INC. (CLF) is classified as a mid-cap stock in the Materials sector, specifically within the Non-Metallic And Industrial Metal Mining industry. The company is led by CEO C. Lourenço Gonçalves and employs approximately 27,000 people, headquartered in Cleveland, Ohio. With a market capitalization of $4.7B, CLF is one of the notable companies in the Materials sector.
CLEVELAND-CLIFFS INC. (CLF) Stock Rating — Reduce (April 2026)
As of April 2026, CLEVELAND-CLIFFS INC. receives a Reduce rating with a composite score of 37.0/100 and 2 out of 5 stars from the Blank Capital Research quantitative model.CLF ranks #3,347 out of 4,446 stocks in our coverage universe. Within the Materials sector, CLEVELAND-CLIFFS INC. ranks #241 of 284 stocks, placing it in the lower half of its Materials peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).
CLF Stock Price and 52-Week Range
CLEVELAND-CLIFFS INC. (CLF) currently trades at $9.06. The stock lost $0.17 (1.8%) in the most recent trading session. The 52-week high for CLF is $16.70, which means the stock is currently trading -45.7% from its annual peak. The 52-week low is $5.63, putting the stock 60.9% above its annual trough. Recent trading volume was 9.5M shares, reflecting moderate market activity.
Is CLF Overvalued or Undervalued? — Valuation Analysis
CLEVELAND-CLIFFS INC. (CLF) carries a value factor score of 21/100 in the Blank Capital model, signaling premium valuation that prices in significant future growth. The price-to-book ratio stands at 0.79x, versus the sector average of 2.83x. The price-to-sales ratio is 0.26x, compared to 0.74x for the average Materials stock.
At current multiples, CLEVELAND-CLIFFS INC. trades at a premium to most Materials peers. This elevated valuation may be justified if the company can sustain above-average growth rates and profitability, but it also creates downside risk if earnings disappoint expectations.
CLEVELAND-CLIFFS INC. Profitability — ROE, Margins, and Quality Score
CLEVELAND-CLIFFS INC. (CLF) earns a quality factor score of 49/100, signaling below-average profitability metrics relative to the broader market. The return on equity (ROE) is -22.4%, compared to the Materials sector average of 3.3%, which is below typical expectations for high-quality companies. Return on assets (ROA) comes in at -7.1% versus the sector average of 0.6%.
On a margin basis, CLEVELAND-CLIFFS INC. reports gross margins of -4.0%, compared to 29.8% for the sector. The operating margin is -7.9% (sector: 6.0%). Net profit margin stands at -7.5%, versus 3.0% for the average Materials stock. Revenue growth is running at -7.0% on a trailing basis, compared to 1.8% for the sector. Profitability is below benchmark levels, which may reflect industry headwinds, elevated reinvestment, or structural challenges.
CLF Debt, Balance Sheet, and Financial Health
CLEVELAND-CLIFFS INC. has a debt-to-equity ratio of 115.0%, compared to the Materials sector average of 41.0%. Leverage is within a manageable range for the industry, though investors should monitor debt trends over time. The current ratio is 1.95x, suggesting adequate working capital coverage. Total debt on the balance sheet is $7.25B. Cash and equivalents stand at $66M.
CLF has a beta of 1.89, meaning it is more volatile than the broader market — a $10,000 investment in CLF would be expected to move 88.9% more than the S&P 500 on any given day. The stability factor score for CLEVELAND-CLIFFS INC. is 29/100, suggesting elevated price swings that may be unsuitable for conservative portfolios.
CLEVELAND-CLIFFS INC. Revenue and Earnings History — Quarterly Trend
In TTM 2026, CLEVELAND-CLIFFS INC. reported revenue of $18.87B and earnings per share (EPS) of $-2.91. Net income for the quarter was $-1.42B. Gross margin was -4.0%. Operating income came in at $-1.50B.
In FY 2025, CLEVELAND-CLIFFS INC. reported revenue of $18.61B and earnings per share (EPS) of $-2.91. Net income for the quarter was $-1.43B. Gross margin was -4.6%. Revenue grew -3.0% year-over-year compared to FY 2024. Operating income came in at $-1.58B.
In Q3 2025, CLEVELAND-CLIFFS INC. reported revenue of $4.73B and earnings per share (EPS) of $-0.51. Net income for the quarter was $-234M. Gross margin was -1.0%. Revenue grew 3.6% year-over-year compared to Q3 2024. Operating income came in at $-204M.
In Q2 2025, CLEVELAND-CLIFFS INC. reported revenue of $4.93B. Net income for the quarter was $-470M. Gross margin was -4.2%. Revenue grew -3.1% year-over-year compared to Q2 2024. Operating income came in at $-498M.
Over the past 8 quarters, CLEVELAND-CLIFFS INC. has demonstrated a growth trajectory, with revenue expanding from $5.09B to $18.87B. Investors analyzing CLF stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.
CLF Dividend Yield and Income Analysis
CLEVELAND-CLIFFS INC. (CLF) does not currently pay a dividend. This is common among smaller companies in the Non-Metallic And Industrial Metal Mining industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Materials dividend stocks may want to explore other Materials stocks or use the stock screener to filter by dividend yield.
CLF Momentum and Technical Analysis Profile
CLEVELAND-CLIFFS INC. (CLF) has a momentum factor score of 34/100, signaling weak relative price performance. Stocks with low momentum scores have historically tended to continue underperforming in the near term. The investment factor score is 36/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 42/100 reflects moderate short selling activity.
CLF vs Competitors — Materials Sector Ranking and Peer Comparison
Within the Materials sector, CLEVELAND-CLIFFS INC. (CLF) ranks #241 out of 284 stocks based on the Blank Capital composite score. This places CLF in the lower half of all Materials stocks in our coverage universe. Key competitors and sector peers include CF Industries Holdings, Inc. (CF) with a score of 56.6/100, Nutrien Ltd. (NTR) with a score of 56.6/100, CVR PARTNERS, LP (UAN) with a score of 55.6/100, LSB INDUSTRIES, INC. (LXU) with a score of 53.6/100, and ACME UNITED CORP (ACU) with a score of 51.2/100.
Comparing CLF against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full CLF vs S&P 500 (SPY) comparison to assess how CLEVELAND-CLIFFS INC. stacks up against the broader market across all factor dimensions.
CLF Next Earnings Date
No upcoming earnings date has been announced for CLEVELAND-CLIFFS INC. (CLF) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.
Should You Buy CLF? — Investment Thesis Summary
The quantitative profile for CLEVELAND-CLIFFS INC. suggests caution. The value score of 21/100 indicates premium valuation. Momentum is weak at 34/100, a headwind for near-term performance. High volatility (stability score 29/100) increases portfolio risk.
In summary, CLEVELAND-CLIFFS INC. (CLF) earns a Reduce rating with a composite score of 37.0/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on CLF stock.
Related Resources for CLF Investors
Explore more research and tools: CLF vs S&P 500 comparison, top Materials stocks, stock screener, our methodology, quality factor explained, value factor explained, momentum factor explained. Compare CLF head-to-head with peers: CLF vs CF, CLF vs NTR, CLF vs UAN.