Traders Buy Large Volume of Call Options on Cleveland-Cliffs (NYSE:CLF)

Posted by Francis Steltz on May 26th, 2026

Cleveland-Cliffs logo Cleveland-Cliffs Inc. (NYSE:CLF – Get Free Report) saw some unusual options trading on Tuesday. Stock investors bought 75,388 call options on the company. This represents an increase of 69% compared to the typical daily volume of 44,684 call options.

Cleveland-Cliffs Stock Up 5.0%

CLF traded up $0.56 on Tuesday, hitting $11.79. 12,067,098 shares of the company were exchanged, compared to its average volume of 17,745,850. Cleveland-Cliffs has a 12 month low of $5.63 and a 12 month high of $16.70. The company has a market cap of $6.73 billion, a PE ratio of -5.04 and a beta of 2.00. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.64 and a current ratio of 2.02. The stock’s fifty day moving average is $9.52 and its 200-day moving average is $11.32.

Cleveland-Cliffs (NYSE:CLF – Get Free Report) last released its quarterly earnings data on Monday, April 20th. The mining company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.04. The firm had revenue of $4.92 billion for the quarter, compared to analyst estimates of $4.84 billion. Cleveland-Cliffs had a negative return on equity of 15.48% and a negative net margin of 6.42%.The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.92) earnings per share. Equities research analysts predict that Cleveland-Cliffs will post -0.46 EPS for the current fiscal year.

Institutional Trading of Cleveland-Cliffs

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Cleveland-Cliffs by 13.4% in the fourth quarter. Vanguard Group Inc. now owns 54,391,397 shares of the mining company’s stock valued at $722,318,000 after buying an additional 6,447,462 shares during the period. State Street Corp raised its stake in Cleveland-Cliffs by 14.2% in the fourth quarter. State Street Corp now owns 29,278,156 shares of the mining company’s stock valued at $388,814,000 after buying an additional 3,632,150 shares during the period. Castle Hook Partners LP raised its stake in Cleveland-Cliffs by 572.4% in the fourth quarter. Castle Hook Partners LP now owns 18,083,029 shares of the mining company’s stock valued at $240,143,000 after buying an additional 15,393,507 shares during the period. Dimensional Fund Advisors LP raised its stake in Cleveland-Cliffs by 6.4% in the first quarter. Dimensional Fund Advisors LP now owns 15,489,207 shares of the mining company’s stock valued at $130,873,000 after buying an additional 925,031 shares during the period. Finally, Maple Rock Capital Partners Inc. raised its stake in Cleveland-Cliffs by 90.1% in the fourth quarter. Maple Rock Capital Partners Inc. now owns 12,358,230 shares of the mining company’s stock valued at $164,117,000 after buying an additional 5,855,830 shares during the period. Institutional investors own 67.68% of the company’s stock.

Analysts Set New Price Targets

CLF has been the topic of several analyst reports. The Goldman Sachs Group reiterated a “neutral” rating and set a $10.00 target price on shares of Cleveland-Cliffs in a report on Friday, May 1st. Wall Street Zen upgraded Cleveland-Cliffs from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. JPMorgan Chase & Co. dropped their target price on Cleveland-Cliffs from $13.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, April 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cleveland-Cliffs in a report on Friday, April 24th. Finally, Wells Fargo & Company dropped their target price on Cleveland-Cliffs from $12.00 to $9.00 and set an “equal weight” rating on the stock in a report on Thursday, March 19th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $11.49.

Read Our Latest Report on Cleveland-Cliffs

About Cleveland-Cliffs

(Get Free Report)

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.