Cleveland-Cliffs Option Alert: Jan 16 $25 Puts at the Ask: 299 vs 42 OI

Cleveland-Cliffs Option Alert: Jan 16 $25 Puts at the Ask: 299 @ $17.6 vs 42 OI; Ref=$7.39

Cleveland-Cliffs (NYSE:CLF) Azioni

CLEVELAND-CLIFFS INC

Cleveland-Cliffs

Cleveland-Cliffs Inc is a flat-rolled steel producer and manufacturer of iron ore pellets in North America. It is organized into four operating segments based on differentiated products, Steelmaking, Tubular, Tooling and Stamping and European Operations, but operates through one reportable segment -Steelmaking. It is vertically integrated from mined raw materials, direct reduced iron, and ferrous scrap to primary steelmaking and downstream finishing, stamping, tooling and tubing. It serves a diverse range of other markets due to its comprehensive offering of flat-rolled steel products. Geographically, it operates in the United States, Canada and other countries. The majority of revenue is from the United States. It is a supplier of steel to the automotive industry in North America.

Sep,18,,2019,Palo,Alto, - ,Ca, - ,Usa,-

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Shares of metals stocks are trading higher amid overall market strength after the US and China agreed to a temporary reduction in most tariffs on each other's goods. A decrease of trade tensions could reduce demand uncertainty for base metals.

Goldman Sachs analyst Mike Harris maintains Cleveland-Cliffs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) with a Buy and lowers the price target from $13 to $11.25.

Goldman Sachs Maintains Buy on Cleveland-Cliffs, Lowers Price Target to $11.25

Benzinga examined the prospects for <a href="http://www.benzinga.com/trading-ideas" target="_blank" rel="noreferrer noopener">many investors' favorite stocks</a> over the last week — here's a look at some of our top stories.
U.S. markets experienced a notable upswing this week, driven by President Donald Trump's announcement of a trade agreement with the United Kingdom. The deal includes reductions in tariffs on UK automobiles, steel, and aluminum, and grants the UK access to the U.S. beef market. This development spurred optimism for potential future trade agreements and contributed to a rally in equities, with the S&amp;P 500 and Nasdaq posting gains. Additionally, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) surpassed the $100,000 mark, reflecting increased investor confidence and a shift toward riskier assets.
Despite the positive market response, concerns about the broader economic outlook persist. The Federal Reserve opted to maintain current interest rates, citing uncertainties related to the new tariff policies and their potential impact on inflation and employment. Analysts warn of the risk of stagflation — a combination of stagnant economic growth and high inflation—especially as the effects of the tariffs become more pronounced.
Looking ahead, high-level trade discussions between U.S. and Chinese officials are scheduled, aiming to address ongoing tensions and possibly adjust existing tariffs. Investors are closely monitoring these developments, as outcomes could significantly influence market dynamics and economic forecasts in the coming months.
Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week's most bullish and bearish posts that are worth another look.

The Bulls
<a href="https://www.benzinga.com/25/05/45259042/ibm-thinks-big-ai-delivers-bigger-why-bulls-are-charging-toward-300">"IBM Thinks Big, AI Delivers Bigger – Why Bulls Are Charging Toward $300"</a>, by Surbhi Jain, reports that International Business Machines Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) shares have climbed 48% over the past year and 13% year-to-date, driven by strong technical indicators and a bullish AI strategy, prompting Wedbush analyst Dan Ives to reiterate an Outperform rating with a $300 price target.
<a href="https://www.benzinga.com/25/05/45295534/novavax-reports-q1-profit-as-revenue-surges-to-over-600-million-and-lower-costs-raises-2025-forecasts">"Novavax reports Q1 profit as revenue surges to over $600 million and lower costs, raises 2025 forecasts"</a>, by Vandana Singh, reports that Novavax Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVAX#NASDAQ">NVAX</a>) posted a Q1 profit of $2.93 per share on $667 million in revenue — driven by $603 million from terminated advance purchase agreements — while raising its 2025 revenue forecast to $975 million-$1.025 billion and noting ongoing discussions with the FDA for full approval of its COVID-19 vaccine.
<a href="https://www.benzinga.com/25/05/45297555/hims-hers-stocks-100-surge-is-squeezing-shorts-and-it-might-just-be-getting-started">"Hims &amp; Hers stock's 100% surge is squeezing shorts—and it might just be getting started"</a>, by Surbhi Jain, reports that Hims &amp; Hers Health Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HIMS#NYSE">HIMS</a>) shares have doubled over the past month, fueled by strong Q1 earnings, a partnership with Novo Nordisk to offer Wegovy, and a high short interest of 33% of float, suggesting a classic short squeeze may be underway.
For additional bullish calls of the past week, check out the following:
<a href="https://www.benzinga.com/government/regulations/25/05/45298562/chipmakers-enter-bullish-seasonal-window-5-stocks-that-could-outperform">Chipmakers Enter Bullish Seasonal Window: 5 Stocks That Could Outperform</a>
<a href="https://www.benzinga.com/25/05/45291509/nvidia-broadcom-amd-surge-as-trump-reshapes-ai-chip-export-rules-to-ease-market-pressure">Nvidia, Broadcom, AMD Gain As Trump Reshapes AI Chip Export Rules To Ease Market Pressure</a>
<a href="https://www.benzinga.com/news/earnings/25/05/45268589/sunrun-stock-rallies-after-strong-q1-report-details">Sunrun Stock Rallies After Strong Q1 Report: Details</a>

The Bears
<a href="https://www.benzinga.com/news/earnings/25/05/45268429/arm-holdings-stock-plunges-after-q4-results-heres-why">"Arm Holdings Stock Plunges After Q4 Results: Here's Why"</a>, by Erica Kollmann, reports that Arm Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) shares fell nearly 9% after the company beat Q4 expectations with $1.24 billion in revenue and $0.55 EPS but issued weaker-than-expected guidance for fiscal 2026, citing uncertainty in licensing deals and global trade tensions.
<a href="https://www.benzinga.com/25/05/45272331/super-micro-slides-as-ai-server-delays-nvidia-supply-limits-weigh-on-analyst-ratings">"Super Micro slides as AI server delays, Nvidia supply limits weigh on analyst ratings"</a>, by Anusuya Lahiri, reports that Super Micro Computer Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) shares fell 5% after the company missed Q3 revenue and EPS expectations and issued a cautious Q4 outlook, attributing delays to customers awaiting NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) Blackwell GPUs and facing supply constraints, leading analysts to lower forecasts amid concerns over AI server demand and margin pressures.
<a href="https://www.benzinga.com/25/05/45261806/sarepta-therapeutics-stock-sinks-on-gloomy-forecast-analysts-cut-price-forecasts">"Sarepta Therapeutics stock sinks on gloomy forecast, analysts cut price forecasts"</a>, by Vandana Singh, reports that Sarepta Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRPT#NASDAQ">SRPT</a>) shares fell after the company posted a deeper-than-expected Q1 loss and cut its 2025 forecast due to Elevidys rollout delays, despite beating revenue estimates.
For more bearish takes, be sure to see these posts:
<a href="https://www.benzinga.com/news/earnings/25/05/45239188/arista-networks-shares-fall-after-mixed-q1-results-eps-beat-revenues-miss-q2-guidance-below-estimates">Arista Networks Shares Fall After Mixed Q1 Results: EPS Beat, Revenues Miss, Q2 Guidance Below Estimates</a>
<a href="https://www.benzinga.com/news/earnings/25/05/45270996/cleveland-cliffs-stock-falls-on-q1-earnings-miss-steelmaker-idles-6-facilities-taking-decisive-action-to-streamline-our-operations">Cleveland-Cliffs Stock Falls On Q1 Earnings Miss, Steelmaker Idles 6 Facilities: ‘Taking Decisive Action To Streamline Our Operations'</a>
<a href="https://www.benzinga.com/news/earnings/25/05/45302422/coinbase-q1-earnings-highlights-revenue-eps-miss-2025">Coinbase Slips On Q1 Miss, Highlights SEC ‘Win' And Strategic Bitcoin Reserve Executive Order</a>

Keep up with all the latest breaking news and trading ideas by following <a href="https://twitter.com/Benzinga" target="_blank" rel="noreferrer noopener">Benzinga</a><a href="http://twitter.com/Benzinga" target="_blank" rel="noreferrer noopener"> on X</a>.
Image created using artificial intelligence via Midjourney.

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Benzinga Bulls And Bears: IBM, Novavax, Arm Holdings — And UK Trade Deal Boosts Markets

Live On CNBC, Jim Lebenthal Announces Bought More Cleveland-Cliffs In Personal Account, Not For Clients

Cleveland-Cliffs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) stock is trading lower Thursday after the company reported first-quarter earnings on Wednesday after <a href="https://www.benzinga.com//node/45270996">the market closed.</a>
The Details: The company reported a loss of 92 cents per share, missing the consensus estimate of a 75 cent-loss. In addition, Cliffs reported sales of $4.63 billion, missing the consensus estimate of $4.64 billion.
During the quarter, Cliffs made the decision to fully or partially idle six facilities to optimize its footprint and reposition away from loss-making operations. Some of the now idle facilities include the Steelton, Pennsylvania rail facility and the Riverdale, Illinois compact strip mill facility.
These actions are anticipated to produce about $300 million in savings annually for the company.
Furthermore, the company will no longer be deploying capital toward the development of a transformer production plant in Weirton, West Virginia.
Lourenco Goncalves, Cliffs&#8217; Chairman, President and CEO, said: &#8220;Our&nbsp;first-quarter&nbsp;results were negatively impacted by underperforming non-core assets and the lagging effect of lower index prices in late 2024 and early 2025. As a result, we are taking decisive action to streamline our operations and enhance efficiency. This will drive meaningful fixed cost savings and sharpen our focus on our core strength: supplying steel to the automotive industry.&#8221;
See Also: <a href="https://www.benzinga.com/general/restaurants/25/05/45289338/papa-johns-tops-q1-estimates-notes-limited-tariff-impact-but-flags-consumer-spending-uncertainty">Papa John&#8217;s Tops Q1 Estimates, Notes Limited Tariff Impact But Flags Consumer Spending Uncertainty</a>
CLF Price Action: At the time of writing, Cliffs stock is trading 15.8% lower at $7.14, according to data from <a href="https://www.benzinga.com/pro/login">Benzinga Pro.</a>
Image: This illustration was generated using artificial intelligence via Midjourney.

Movers

Cleveland-Cliffs Stock Is Sinking Thursday: What's Going On?

Cleveland-Cliffs shares are trading lower after the company reported Q1 financial results and missed its adjusted EPS and revenue estimates.

U.S. stock futures were higher this morning, with the Nasdaq futures gaining over 1% on Thursday.
Shares of Arm Holdings PLC &#8211; ADR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) fell sharply in today's pre-market trading after the company reported fourth-quarter financial results and issued FY26 guidance below estimates. Also, the company issued first-quarter <a href="https://www.benzinga.com/quote/arm/earnings">adjusted EPS guidance below estimates.</a>
Arm Holdings reported quarterly earnings of 55 cents per share, which beat the analyst consensus estimate of 52 cents. Quarterly revenue came in at $1.24 billion, which beat the consensus estimate of $1.23 billion and is an increase over revenue of $928 million from the same period last year.
Arm Holdings shares tumbled 10.6% to $110.88 in the pre-market trading session.
Here are some other stocks moving lower in pre-market trading.
<ul>
<li>NetClass Technology Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTCL#NASDAQ">NTCL</a>) shares dipped 18.7% to $26.37 in pre-market trading.</li>
<li>Fluence Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLNC#NASDAQ">FLNC</a>) shares fell 15.1% to $3.83 in pre-market trading after the company reported a wider-than-expected quarterly loss and lowered its FY25 sales forecast.</li>
<li>Semrush Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SEMR#NYSE">SEMR</a>) declined 13% to $8.89 in pre-market trading after posting downbeat quarterly earnings.</li>
<li>Emerald Holding Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EEX#NYSE">EEX</a>) dipped 12.6% to $4.01 in today's pre-market trading. Emerald Holding recently reported better-than-expected first-quarter financial results and issued FY25 sales guidance with its midpoint above estimates.</li>
<li>Consensus Cloud Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CCSI#NASDAQ">CCSI</a>) declined 10.2% to $20.03 in pre-market trading after reporting first-quarter results.</li>
<li>Genpact Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/G#NYSE">G</a>) shares tumbled 9.2% to $45.01 in pre-market trading after the company cut its FY25 forecast.</li>
<li>Equinox Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQX#NYSE">EQX</a>) fell 8.9% to $6.22 in pre-market trading following weak quarterly results.</li>
<li>Fortinet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) dipped 8.6% to $97.55 in pre-market trading following first-quarter results.</li>
<li>Cleveland-Cliffs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) dipped 7.6% to $7.84 in pre-market trading as the company posted a wider-than-expected loss for the first quarter after the closing bell on Wednesday. The company also said it expects full-year 2025 steel unit cost reductions of approximately $50 per net ton compared to the prior year. The company anticipates full-year capital expenditures of approximately $625 million, down from prior guidance of $700 million.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/25/05/45251088/top-3-financial-stocks-that-may-plunge-in-may">Top 3 Financial Stocks That May Plunge In May</a> </li>
</ul>
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Arm Holdings, Fluence Energy, Semrush And Other Big Stocks Moving Lower In Thursday's Pre-Market Session

U.S. stock futures rose on Thursday after two days of advance on Wednesday. Futures of major benchmark indices were higher in premarket.
This followed the Federal Reserve&#8217;s <a href="https://www.benzinga.com/government/regulations/25/05/45266366/powell-flags-sharp-tariff-shock-elevated-uncertainty-fed-sticks-to-wait-and-see-mode">decision to hold the interest rate</a> steady at 4.25% to 4.5% on Wednesday. 
"The tariff increases announced so far have been significantly larger than anticipated," Fed Chair Jerome Powell said.
He noted that if the tariffs are sustained, they could lead to higher inflation, weaker growth, and a rise in unemployment, directly undermining the Fed&#8217;s dual mandate.
"We don&#8217;t think we need to be in a hurry. We are going to be watching the data. It may move quickly or slowly. But we&#8217;re well-positioned to wait," he said.
Meanwhile, the 10-year Treasury bond yielded 4.31% and the two-year bond was at 3.82%. The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>&#8216;s projections show markets pricing a 79.8% likelihood of the Federal Reserve keeping the current interest rates unchanged in its June meeting.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Change (+/-)</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.72%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.94%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>1.38%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>1.31%</td>
</tr>
</tbody>
</table>
</figure>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, rose in premarket on Thursday. The SPY was up 1.14% to $567.54, while the QQQ advanced 1.51% to $490.61, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Cues From Last Session:
Leading the gains among sectors in the S&amp;P 500 on Wednesday were health care, consumer discretionary, and information technology stocks, as most sectors closed positively.
Bucking this trend were communication services and materials stocks, which finished the session lower.
In company news, Uber Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) reported first-quarter revenue that fell short of expectations, while Walt Disney Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) announced positive fiscal second-quarter 2025 results on Wednesday.
On the economic front, U.S. mortgage application volumes saw an 11% increase from the prior week for the week ending May 2nd.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>0.27%</td>
<td>17,738.16</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.43%</td>
<td>5,631.28</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.70%</td>
<td>41,113.97</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>0.33%</td>
<td>1,989.66</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Sharing a<a href="https://www.benzinga.com/general/market-summary/25/05/45278334/sp-500-chart-indicates-adding-long-positions-as-expert-says-market-has-found-its-balance?utm_campaign=Watchlist&amp;utm_source=Benzinga&amp;utm_medium=Email"> 10-year S&amp;P 500 chart</a> on X, Jurrien Timmer, Director of Global Macro at Fidelity Investments, offered a simple yet thought-provoking approach to navigating uncertainty.
He suggested considering whether to take a long or short position based on the index&#8217;s historical performance. Analyzing the technical patterns, Timmer concluded that establishing or increasing &#8220;long&#8221; positions appeared to be the more favorable strategy.
Timmer stated that the S&amp;P 500 appears to have gravitated back to this long-term uptrend line. This convergence, according to Timmer, suggests that the &#8220;market has found its balance.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">At times of uncertainty, I find it useful to pull up a simple chart of the S&amp;P 500 and ask myself: do I want to be long or short this chart? Different people will come up with different answers, but for me the chart below suggests "long." We have a rising uptrend line and a… <a href="https://t.co/DsLOxYz6sn">pic.twitter.com/DsLOxYz6sn</a>
&mdash; Jurrien Timmer (@TimmerFidelity) <a href="https://twitter.com/TimmerFidelity/status/1920148872690532867?ref_src=twsrc%5Etfw">May 7, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Scott Wren, the senior global market strategist at Wells Fargo, stated in his weekly note that &#8220;Further near-term upside in the S&amp;P 500 Index is likely limited, and we expect to see more downside volatility before the tariff uncertainties are resolved.&#8221;
According to Wren, central bankers keep telling us they are "data dependent." That means Chair Powell and the other voting Federal Open Market Committee members need to see the data that tells the Federal Reserve the labor environment is weak and/or inflation readings are coming down consistently.
&#8220;In the meantime, we are looking into 2026 and seeing an economic and earnings recovery. For now, while volatility remains the likely headline, we prefer to focus on quality, like large- and mid-cap U.S. equities, and favor the Energy, Communication Services, Information Technology, and Financials sectors,&#8221; he added.
Upcoming Economic Data
Here&#8217;s what investors will keep an eye on Thursday:
<ul>
<li>Initial jobless claims for the week ended May 3 and U.S. productivity data for the first quarter will be released by 8:30 a.m. ET.</li>
</ul>
<ul>
<li>March&#8217;s wholesale inventories data will be out by 10:00 a.m. ET.</li>
</ul>
Stocks In Focus:
<ul>
<li>US Foods Holding Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USFD#NYSE">USFD</a>) fell 0.17% in premarket on Thursday as it is expected to report earnings before the opening bell. Analysts expect a quarterly earnings of 69 cents per share on revenue of $9.38 billion.</li>
<li>ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>) was up 1.35% as Wall Street expects it to report earnings of 50 cents per share on revenue of $11.62 billion before the opening bell.</li>
<li>Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) jumped 4.53% as it is expected to report earnings before the opening bell. Analysts expect a quarterly earnings of 69 cents per share on revenue of $9.38 billion.</li>
<li>Anheuser-Busch Inbev SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUD#NYSE">BUD</a>) rose 2.55% after reporting a 7.9% increase in operating profit for the first quarter, also topping market estimates.</li>
<li>Cleveland-Cliffs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) dropped 9.31% after posting a wider-than-expected loss for the first quarter after the closing bell on Wednesday. The company also said it expects full-year 2025 steel unit cost reductions of approximately $50 per net ton compared to the prior year.</li>
<li>Digital Ally Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DGLY#NASDAQ">DGLY</a>) jumped 64.49% after it received a positive determination from the Nasdaq Hearings Panel regarding its continued listing on the Nasdaq Stock Market.</li>
<li>Costamare Bulkers Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMDB#NYSE">CMDB</a>) zoomed 40.27%, announced today that it has completed the spin-off of its dry bulk business into a standalone public company, Costamare Bulkers Holdings Ltd.</li>
<li>Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) was 0.82% higher after China Airlines announced an order including Boeing 777X passenger and freighter models.</li>
<li>Asset Entities Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASST#NASDAQ">ASST</a>) skyrocketed 54.57% after it entered into a definitive merger agreement with Strive Asset Management, a subsidiary of Strive Enterprises, Inc.</li>
<li>Beyond Meat Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BYND#NASDAQ">BYND</a>) declined 2.36% after missing analysts&#8217; expectations during the first quarter.</li>
<li>Carvana Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>) jumped 4.21% after the company reported better-than-expected results during the first quarter.</li>
</ul>
Commodities, Gold, And Global Equity Markets:
Crude oil futures were trading higher in the early New York session by 1.10% to hover around $58.71 per barrel.
Gold Spot US Dollar fell 0.77% to hover around $3,338.64 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was higher by 0.45% at the 100.0640 level.
Asian markets ended higher on Wednesday except India's S&amp;P BSE Sensex. On the other hand, Japan's Nikkei 225, Australia's ASX 200, China&#8217;s CSI 300, Hong Kong's Hang Seng, and South Korea's Kospi index rose. European markets were mixed in early trade.
Read Next:
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<li><a href="https://www.benzinga.com/general/market-summary/25/05/45251508/warren-buffett-falls-behind-nancy-pelosi-in-stock-market-returns-over-the-last-11-years-heres-what-data-shows">Warren Buffett Falls Behind Nancy Pelosi In Stock Market Returns Over The Last 11 Years: Here&#8217;s What Data Shows</a></li>
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UBER

US Stocks Likely To Open Higher After Two Days Of Advance: 'Market Has Found Its Balance,' Says Expert Citing S&P 500's Technical Analysis

With U.S. stock futures trading higher this morning on Thursday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects US Foods Holding Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USFD#NYSE">USFD</a>) to report quarterly earnings at 69 cents per share on revenue of $9.38 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. US Foods shares slipped 0.1% to $69.10 in after-hours trading.</li>
<li>Analysts are expecting ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>) to post quarterly earnings at 50 cents per share on revenue of $11.62 billion. The company will release earnings before the markets open. ConocoPhillips shares gained 0.6% to $88.21 in after-hours trading.</li>
<li>Cleveland-Cliffs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) posted a wider-than-expected loss for the first quarter after the closing bell on Wednesday. The company also said it expects full-year 2025 steel unit cost reductions of approximately $50 per net ton compared to the prior year. The company anticipates full-year capital expenditures of approximately $625 million, down from prior guidance of $700 million. Cleveland-Cliffs shares dipped 9.4% to $7.69 in the after-hours trading session.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Anheuser-Busch InBev SA/NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUD#NYSE">BUD</a>) reported a 7.9% increase in operating profit for the first quarter, also topping market estimates. Anheuser-Busch InBev shares slipped 0.1% to $65.44 in the after-hours trading session.</li>
<li>Analysts expect Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) to post quarterly earnings at $2.11 per share on revenue of $2.12 billion after the closing bell. Coinbase shares gained 0.5% to $197.50 in after-hours trading.</li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/05/45250672/wall-streets-most-accurate-analysts-give-their-take-on-3-industrials-stocks-delivering-high-dividend-yields">Wall Street&#8217;s Most Accurate Analysts Give Their Take On 3 Industrials Stocks Delivering High-Dividend Yields</a> </li>
</ul>
Photo via Shutterstock

US Foods, ConocoPhillips And 3 Stocks To Watch Heading Into Thursday

Cleveland-Cliffs Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) reported first-quarter financial results after the market close on Wednesday. Here&#8217;s a look at the key details from the <a href="https://www.benzinga.com/pressreleases/25/05/b45269632/cleveland-cliffs-reports-first-quarter-2025-results">steel producer&#8217;s report</a>.
Q1 Earnings: Cleveland-Cliffs reported first-quarter revenue of $4.63 billion, missing analyst <a href="http://benzinga.com/quote/clf/earnings">estimates</a> of $4.64 billion, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>. The steelmaker reported a first-quarter adjusted loss of 92 cents per share, missing analyst estimates for a loss of 75 cents per share. 
Between March and May, the company decided to fully or partially idle six facilities to optimize its footprint, reposition away from loss-making operations and release excess working capital. These actions are expected to result in savings of over $300 million annually. 
&#8220;The decision to fully or partially idle certain locations was not taken lightly,&#8221; the company said. 
Total steelmaking revenues&nbsp;included&nbsp;$1.4 billion to the infrastructure and manufacturing market, $1.3 billion to the automotive market, $1.2 billion to the distributors and converters market and&nbsp;$588 million to steel producers.
Steel product sales volumes totaled 4.1 million net tons&nbsp;in the first quarter, consisting of 41%&nbsp;hot-rolled,&nbsp;27%&nbsp;coated,&nbsp;15%&nbsp;cold-rolled,&nbsp;5%&nbsp;plate,&nbsp;3%&nbsp;stainless and electrical and&nbsp;9%&nbsp;other.
Cleveland-Cliffs ended the quarter with $3 billion in total liquidity. 
&#8220;Our&nbsp;first-quarter&nbsp;results were negatively impacted by underperforming non-core assets and the lagging effect of lower index prices in late 2024 and early 2025,&#8221; said Lourenco Goncalves, chairman, president and CEO of Cleveland-Cliffs.
&#8220;As a result, we are taking decisive action to streamline our operations and enhance efficiency. This will drive meaningful fixed cost savings and sharpen our focus on our core strength: supplying steel to the automotive industry.&#8221;
Outlook: Cleveland-Cliffs expects full-year 2025 steel unit cost reductions of approximately&nbsp;$50&nbsp;per net ton compared to the prior year. The company anticipates full-year capital expenditures of approximately $625 million, down from prior guidance of $700 million. 
Cleveland-Cliffs executives will hold a conference call at 8:30 a.m. Thursday morning to further discuss the quarter with investors and analysts. 
CLF Price Action: <a href="http://benzinga.com/quote/clf">Cleveland-Cliffs shares</a> were down 9.19% after-hours, trading at $7.71 at the time of publication Wednesday, per <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/earnings/25/05/45268560/carvana-q1-earnings-revenue-eps-beat-estimates-as-vehicles-sales-jump-46-company-remains-on-track-for-significant-growth-in-fy25">Carvana Q1 Earnings: Revenue, EPS Beat Estimates As Vehicles Sales Jump 46%, Company Remains On Track For &#8216;Significant Growth&#8217; In FY25</a></li>
<li><a href="https://www.benzinga.com/news/earnings/25/05/45268429/arm-holdings-stock-plunges-after-q4-results-heres-why">Arm Holdings Stock Plunges After Q4 Results: Here&#8217;s Why</a></li>
</ul>
Photo: saweang.w/Shutterstock.

Guidance

Commodities

After-Hours Center

Cleveland-Cliffs Stock Falls On Q1 Earnings Miss, Steelmaker Idles 6 Facilities: 'Taking Decisive Action To Streamline Our Operations'

Cleveland-Cliffs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) reported quarterly losses of $(0.92) per share which missed the analyst consensus estimate of $(0.75) by 22.67 percent. This is a 611.11 percent decrease over earnings of $0.18 per share from the same period last year. The company reported quarterly sales of $4.63 billion which missed the analyst consensus estimate of $4.64 billion by 0.17 percent. This is a 10.96 percent decrease over sales of $5.20 billion the same period last year.

Earnings Misses

Cleveland-Cliffs Q1 Adj. EPS $(0.92) Misses $(0.75) Estimate, Sales $4.63B Miss $4.64B Estimate

ACAD

ACDC

ACRE

ACVA

ADMA

ADNT

ADTN

AIRG

ALNT

ALTG

ALTO

ALVO

AMPH

AMPL

AMRK

AMRN

AOSL

APLS

ARIS

ARMN

ASLE

Avadel Pharmaceuticals plc - American Depositary Shares each representing one Ordinary Share

AVDL

AVDX

AXON

AXTA

AZTA

BAND

BBDO

BBGI

BBSI

BGSF

Brighthouse Financial, Inc. - Common Stock

BLBD

BLMN

BLZE

BMBL

BRKR

BROS

BTMD

BXSL

CAPL

CDLX

CENT

CENTA

CENX

CEVA

CIVI

CMTG

CNDT

COHR

Core Scientific, Inc. - Class A Common Stock

CORZ

CPRX

CRNC

CRNT

CSGS

CSTE

CTVA

CYRX

Earnings Scheduled For May 7, 2025

Analysts' ratings for Cleveland-Cliffs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) over the last quarter vary from bullish to bearish, as provided by 5 analysts.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">4</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">3</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
The 12-month price targets, analyzed by analysts, offer insights with an average target of $13.38, a high estimate of $17.00, and a low estimate of $11.00. Experiencing a 14.29% decline, the current average is now lower than the previous average price target of $15.61. 
<img src="https://www.benzinga.com/files/images/story/2025/1745431227_0.png" alt="price target chart" />
<h2>Investigating Analyst Ratings: An Elaborate Study</h2>
The analysis of recent analyst actions sheds light on the perception of Cleveland-Cliffs by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
&#x7C; Analyst &#x7C; Analyst Firm &#x7C; Action Taken &#x7C; Rating &#x7C;Current Price Target&#x7C; Prior Price Target &#x7C; 
&#x7C;--------------------&#x7C;--------------------&#x7C;---------------&#x7C;---------------&#x7C;--------------------&#x7C;--------------------&#x7C; 
&#x7C;Nick Giles &#x7C;B. Riley Securities &#x7C;Lowers &#x7C;Buy &#x7C; $17.00&#x7C;$20.00 &#x7C; 
&#x7C;Martin Englert &#x7C;Seaport Global &#x7C;Lowers &#x7C;Buy &#x7C; $11.00&#x7C;$13.50 &#x7C; 
&#x7C;Mike Harris &#x7C;Goldman Sachs &#x7C;Lowers &#x7C;Buy &#x7C; $15.00&#x7C;$17.00 &#x7C; 
&#x7C;Gordon Johnson &#x7C;GLJ Research &#x7C;Lowers &#x7C;Buy &#x7C; $12.90&#x7C;$14.54 &#x7C; 
&#x7C;Carlos De Alba &#x7C;Morgan Stanley &#x7C;Lowers &#x7C;Equal-Weight &#x7C; $11.00&#x7C;$13.00 &#x7C;
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Cleveland-Cliffs. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of Cleveland-Cliffs compared to the broader market.</li>
<li>Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of Cleveland-Cliffs's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of Cleveland-Cliffs's market position. Stay informed and make well-informed decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/CLF/analyst-ratings?adType=benzinga-insights&amp;ad=analyst-ratings&amp;campaign=wallstreetadvantage">Stay up to date on Cleveland-Cliffs analyst ratings.</a>
<h2>All You Need to Know About Cleveland-Cliffs</h2>
Cleveland-Cliffs Inc is a flat-rolled steel producer and manufacturer of iron ore pellets in North America. It is organized into four operating segments based on differentiated products, Steelmaking, Tubular, Tooling and Stamping and European Operations, but operates through one reportable segment -Steelmaking. It is vertically integrated from mined raw materials, direct reduced iron, and ferrous scrap to primary steelmaking and downstream finishing, stamping, tooling and tubing. It serves a diverse range of other markets due to its comprehensive offering of flat-rolled steel products. Geographically, it operates in the United States, Canada and other countries. The majority of revenue is from the United States. It is a supplier of steel to the automotive industry in North America.
<h3>Breaking Down Cleveland-Cliffs's Financial Performance</h3>
Market Capitalization Perspectives: The company's market capitalization falls below industry averages, signaling a relatively smaller size compared to peers. This positioning may be influenced by factors such as perceived growth potential or operational scale.
Revenue Growth: Cleveland-Cliffs's revenue growth over a period of 3M has faced challenges. As of 31 December, 2024, the company experienced a revenue decline of approximately -15.4%. This indicates a decrease in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Materials sector.
Net Margin: Cleveland-Cliffs's net margin falls below industry averages, indicating challenges in achieving strong profitability. With a net margin of -10.34%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Cleveland-Cliffs's ROE falls below industry averages, indicating challenges in efficiently using equity capital. With an ROE of -6.61%, the company may face hurdles in generating optimal returns for shareholders.
Return on Assets (ROA): Cleveland-Cliffs's ROA falls below industry averages, indicating challenges in efficiently utilizing assets. With an ROA of -2.37%, the company may face hurdles in generating optimal returns from its assets.
Debt Management: With a high debt-to-equity ratio of 1.06, Cleveland-Cliffs faces challenges in effectively managing its debt levels, indicating potential financial strain.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

5 Analysts Have This To Say About Cleveland-Cliffs

B. Riley Securities analyst Nick Giles reiterates Cleveland-Cliffs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) with a Buy and lowers the price target from $20 to $17.

Reiteration

B. Riley Securities Reiterates Buy on Cleveland-Cliffs, Lowers Price Target to $17

Shares of metals stocks are trading lower, pulling back after surging Wednesday following President Trump's tariff pause announcement. The sector has been volatile amid trade war concerns.

ASPI

FEAM

MATV

MEOH

MERC

PACK

VALE

Shares of companies within the broader materials sector are trading lower as global markets continue to decline following President Trump's announcement of sweeping tariffs.

Shares of companies within the broader materials sector are trading lower as markets react to President Trump's announcement of sweeping tariffs.

Deep-pocketed investors have adopted a bearish approach towards Cleveland-Cliffs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in CLF usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for Cleveland-Cliffs. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 25% leaning bullish and 75% bearish. Among these notable options, 3 are puts, totaling $518,986, and 5 are calls, amounting to $317,655.
<h3>Expected Price Movements</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $4.0 and $27.0 for Cleveland-Cliffs, spanning the last three months.
<h3>Volume &amp; Open Interest Development</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Cleveland-Cliffs's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Cleveland-Cliffs's whale activity within a strike price range from $4.0 to $27.0 in the last 30 days. 
<h3>Cleveland-Cliffs 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1743625857_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>CLF</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/19/25</td>
<td>$18.6</td>
<td>$18.55</td>
<td>$18.6</td>
<td>$27.00</td>
<td>$465.0K</td>
<td>27</td>
<td>0</td>
</tr>
<tr>
<td>CLF</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>04/04/25</td>
<td>$0.42</td>
<td>$0.39</td>
<td>$0.4</td>
<td>$8.00</td>
<td>$100.0K</td>
<td>1.7K</td>
<td>2.6K</td>
</tr>
<tr>
<td>CLF</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/17/25</td>
<td>$4.45</td>
<td>$4.35</td>
<td>$4.45</td>
<td>$4.00</td>
<td>$88.9K</td>
<td>173</td>
<td>200</td>
</tr>
<tr>
<td>CLF</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/16/25</td>
<td>$0.25</td>
<td>$0.23</td>
<td>$0.25</td>
<td>$10.00</td>
<td>$56.5K</td>
<td>3.4K</td>
<td>2.2K</td>
</tr>
<tr>
<td>CLF</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/18/26</td>
<td>$4.3</td>
<td>$4.2</td>
<td>$4.24</td>
<td>$5.00</td>
<td>$42.4K</td>
<td>17</td>
<td>100</td>
</tr>
</tbody>
</table>

<h3>About Cleveland-Cliffs</h3>
Cleveland-Cliffs Inc is a flat-rolled steel producer and manufacturer of iron ore pellets in North America. It is organized into four operating segments based on differentiated products, Steelmaking, Tubular, Tooling and Stamping and European Operations, but operates through one reportable segment -Steelmaking. It is vertically integrated from mined raw materials, direct reduced iron, and ferrous scrap to primary steelmaking and downstream finishing, stamping, tooling and tubing. It serves a diverse range of other markets due to its comprehensive offering of flat-rolled steel products. Geographically, it operates in the United States, Canada and other countries. The majority of revenue is from the United States. It is a supplier of steel to the automotive industry in North America.
In light of the recent options history for Cleveland-Cliffs, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Where Is Cleveland-Cliffs Standing Right Now?</h3>
<ul>
<li>Trading volume stands at 27,172,681, with CLF's price up by 7.78%, positioned at $8.73.</li>
<li>RSI indicators show the stock to be is currently neutral between overbought and oversold.</li>
<li>Earnings announcement expected in 19 days.</li>
</ul>
<h3>What The Experts Say On Cleveland-Cliffs</h3>
In the last month, 2 experts released ratings on this stock with an average target price of $13.0.
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&#x2A; Maintaining their stance, an analyst from Seaport Global continues to hold a Buy rating for Cleveland-Cliffs, targeting a price of $11. 
&#x2A; An analyst from Goldman Sachs has decided to maintain their Buy rating on Cleveland-Cliffs, which currently sits at a price target of $15. 
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Cleveland-Cliffs, <a href="https://www.benzinga.com/pro/">Benzinga Pro</a> gives you real-time options trades alerts.

Options

Spotlight on Cleveland-Cliffs: Analyzing the Surge in Options Activity

Cleveland-Cliffs's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) short percent of float has risen 7.47% since its last report. The company recently reported that it has 58.28 million shares sold short, which is 15.11% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.29 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">List of the most shorted stocks</a>
<h3>Cleveland-Cliffs Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1743623125_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Cleveland-Cliffs has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Cleveland-Cliffs's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>, Cleveland-Cliffs's peer group average for short interest as a percentage of float is 5.10%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Looking Into Cleveland-Cliffs's Recent Short Interest

President Donald Trump's fresh round of 25% auto import tariffs is shaking up the metals market, and JPMorgan analyst Bill Peterson sees near-term headwinds for key players in <a href="https://www.benzinga.com/topic/metals">steel, aluminum, and copper</a>. 
While domestic production incentives should help Cleveland-Cliffs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) and Constellium SE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CSTM#NYSE">CSTM</a>) in the long run, rising costs and inflationary pressures could stifle demand.
JPMorgan's U.S. Auto team expects vehicle prices to climb another 5%, with core PCE inflation now forecasted at 3.1% this year. The hit to real consumer spending has also led JPMorgan's economists to trim GDP growth estimates to 1.3% for 2024.
<h2 class="wp-block-heading">Copper Tariff Chatter Heats Up</h2>
The tariff storm doesn't stop with autos. Reports indicate Trump is eyeing a 25% tariff on U.S. copper imports, possibly rolling out within weeks—well ahead of the November deadline. 
This coincides with Glencore PLC's (OTCPK:GLNCY) force majeure at its Altnorte refinery in Chile, a major supplier to the US. Copper miner Freeport-McMoRan Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) is positioned to benefit, with COMEX copper trading at a 15% premium to LME. 
JPMorgan recently upgraded FCX to Overweight, seeing a 15% upside to its FY25 EBITDA, citing its defensive balance sheet and capex flexibility.
Read Also: <a href="https://www.benzinga.com/government/regulations/25/03/44476803/copper-breaks-records-on-china-stimulus-tariff-hype-these-stocks-are-riding-the-wave">Copper Breaks Records On China Stimulus, Tariff Hype: These Stocks Are Riding The Wave</a>
<h2 class="wp-block-heading">Short Sellers Smell Blood</h2>
Uncertainty has drawn in short sellers. Cleveland-Cliffs's short interest has spiked to a one-year high of 12.1%, while Carpenter Technology Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRS#NYSE">CRS</a>) saw a rise to 7.5%. With ‘Liberation Day' on Wednesday expected to bring another tariff barrage, volatility looms large.
However, JPMorgan remains bullish on select metals stocks, reaffirming its Overweight rating on FCX. As Peterson puts it, "FCX as a value/defensive play relative to growth-focused peers given its tenured management team, clean balance sheet, and capex optionality."
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/government/regulations/25/03/44498083/trumps-copper-tariffs-might-come-sooner-rather-than-later-insiders-warn">Trump&#8217;s Copper Tariffs Might Come Sooner Rather Than Later, Insiders Warn</a></li>
</ul>
Photo: Shutterstock/Eric Glenn

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Tariff Turmoil: Cleveland-Cliffs, Constellium, Freeport-McMoRan Caught In The Crossfire, Says Analyst

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INVESTOR ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Cleveland-Cliffs Inc. – CLF

INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Cleveland-Cliffs Inc. - CLF

Kirby McInerney LLP Announces Investigation of Claims Against Cleveland-Cliffs Inc. (CLF) on Behalf of Investors

Securities Fraud Investigation Into Cleveland-Cliffs Inc. (CLF) Announced – Investors Who Lost Money Urged To Contact The Law Offices of Frank R. Cruz

CLEVELAND-CLIFFS ALERT: Bragar Eagel & Squire, P.C. is Investigating Cleveland-Cliffs Inc. on Behalf of Cleveland-Cliffs Stockholders and Encourages Investors to Contact the Firm

Cleveland-Cliffs Inc. (CLF) Investors Who Lost Money – Contact Law Offices of Howard G. Smith About Securities Fraud Investigation

Securities Fraud Investigation Into Cleveland-Cliffs Inc. (CLF) Announced – Investors Who Lost Money Urged To Contact Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm

CLF Investors Have Opportunity to Join Cleveland-Cliffs Inc. Fraud Investigation with the Schall Law Firm

Bragar Eagel & Squire, P.C. Is Investigating Kohl's and Cleveland-Cliffs and Encourages Investors to Contact the Firm

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