Why Cleveland-Cliffs (CLF) Stock Is Down Today

Cleveland-Cliffs (CLF) is down 3.3% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely explanation is profit-taking after CLF’s huge post-earnings surge last week, rather than a new company-specific setback today. Cleveland-Cliffs had just rallied sharply after outlining much stronger third-quarter EBITDA expectations and improving pricing, volumes, and Canadian operations, so a modest pullback fits a cooling-off move after an outsized run. ([trefis.com](https://www.trefis.com/stock/clf/articles/608971/why-cleveland-cliffs-stock-jumped-despite-its-latest-quarterly-loss/2026-07-27?utm_source=openai))

Details:

Cleveland-Cliffs reported second-quarter 2026 results on July 23, including a GAAP net loss of $134 million, even as management said the business is improving. ([clevelandcliffs.com](https://www.clevelandcliffs.com/investors/sec-filings/all-sec-filings/content/0000764065-26-000097/clf-202606308xkex991.htm?utm_source=openai))

The company guided to about $575 million of adjusted EBITDA for the third quarter, and management said fourth-quarter EBITDA is expected to be even higher. ([investing.com](https://www.investing.com/news/earnings/clevelandcliffs-shares-rises-nearly-7-on-strong-q3-outlook-93CH-4808069?utm_source=openai))

Management also highlighted stronger domestic demand, subdued imports, extending lead times, and an expected earnings rebound at Stelco in Canada. ([clevelandcliffs.com](https://www.clevelandcliffs.com/investors/sec-filings/all-sec-filings/content/0000764065-26-000097/clf-202606308xkex991.htm))

CLF’s decline also came on a day when other major steel stocks were lower, suggesting some broader industry weakness alongside stock-specific profit-taking. This could be because investors were locking in gains after CLF’s much larger move than peers. ([trefis.com](https://www.trefis.com/stock/clf/articles/608971/why-cleveland-cliffs-stock-jumped-despite-its-latest-quarterly-loss/2026-07-27?utm_source=openai))

Sources:

Cleveland-Cliffs, Investing.com, Trefis

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$CLF Insider Trading Activity

$CLF insiders have traded $CLF stock on the open market 4 times in the past 6 months. Of those trades, 1 have been purchases and 3 have been sales.

Here’s a breakdown of recent trading of $CLF stock by insiders over the last 6 months:

LOURENCO GONCALVES (Chairman, President & CEO) sold 3,000,000 shares for an estimated $37,257,300
CELSO L JR GONCALVES (EVP, CFO) sold 214,308 shares for an estimated $2,874,641
CLIFFORD T SMITH (EVP & Chief Operating Officer) sold 200,000 shares for an estimated $2,092,080
EDILSON CAMARA purchased 19,700 shares for an estimated $199,626

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

EARLY ACCESS

Receive CLF Data Alerts

Real-time alerts on filings, insider trades, and market signals — before everyone else.

Get Alerts →

$CLF Hedge Fund Activity

We have seen 258 institutional investors add shares of $CLF stock to their portfolio, and 246 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

CASTLE HOOK PARTNERS LP removed 18,083,029 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $152,801,595
STATE STREET CORP added 10,033,087 shares (+34.3%) to their portfolio in Q1 2026, for an estimated $84,779,585
TWO SIGMA INVESTMENTS, LP added 9,128,822 shares (+190.5%) to their portfolio in Q1 2026, for an estimated $77,138,545
JANE STREET GROUP, LLC removed 8,506,750 shares (-93.8%) from their portfolio in Q1 2026, for an estimated $71,882,037
MAPLE ROCK CAPITAL PARTNERS INC. added 8,387,327 shares (+67.9%) to their portfolio in Q1 2026, for an estimated $70,872,913
BALYASNY ASSET MANAGEMENT L.P. removed 6,643,924 shares (-70.9%) from their portfolio in Q1 2026, for an estimated $56,141,157
BLACKROCK, INC. added 5,357,330 shares (+10.1%) to their portfolio in Q1 2026, for an estimated $45,269,438

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$CLF Price Targets

Multiple analysts have issued price targets for $CLF recently. We have seen 7 analysts offer price targets for $CLF in the last 6 months, with a median target of $11.5.

Here are some recent targets:

Timna Tanners from Wells Fargo set a target price of $9.0 on 07/09/2026
Lawson Winder from B of A Securities set a target price of $11.5 on 07/09/2026
Alexander Hacking from Citigroup set a target price of $10.0 on 07/07/2026
Carlos De Alba from Morgan Stanley set a target price of $12.5 on 06/22/2026
Bill Peterson from JP Morgan set a target price of $13.0 on 06/10/2026
Gordon L. Johnson from GLJ Research set a target price of $15.01 on 06/09/2026
Richard Garchitorena from Barclays set a target price of $9.0 on 05/22/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.