Cleveland-Cliffs, Inc. (Cliffs) is the largest flat-rolled steel producer in North America. Founded in 1847 as a mine operator, the company is also the largest producer of iron ore pellets in North America. In 2020, Cliffs acquired two major steelmakers, AK Steel and ArcelorMittal USA, vertically integrating its legacy iron ore business with quality-focused steel production and emphasis on the automotive end market. Its fully integrated portfolio includes custom-made pellets and hot briquetted iron (HBI); flat-rolled carbon steel, stainless, electrical, plate, tinplate and long steel products; as well as carbon and stainless steel tubing, hot and cold stamping and tooling. Headquartered in Cleveland, Ohio, Cliffs employ approximately 25,000 people across its mining, steel and downstream manufacturing operations in the United States and Canada.
Company profile
Ticker
CLF
Exchange
Website
CEO
Lourenco Goncalves
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
CLEVELAND CLIFFS INC, CLIFFS NATURAL RESOURCES INC.
SEC CIK
Corporate docs
Subsidiaries
Cannon Automotive Solutions - Bowling Green, Inc. • Cleveland-Cliffs Burns Harbor LLC • Cleveland-Cliffs Cleveland Works LLC • Cleveland-Cliffs Columbus LLC • Cleveland-Cliffs FPT Services Company • Cleveland-Cliffs Investments Inc. • Cleveland-Cliffs Kote Inc. • Cleveland-Cliffs Kote L.P. • Cleveland-Cliffs Minorca Mine Inc. • Cleveland-Cliffs Monessen Coke LLC ...
IRS number
341464672
CLF stock data
Analyst ratings and price targets
Latest filings (excl ownership)
8-K
Entry into a Material Definitive Agreement
9 Jun 23
SD
Conflict minerals disclosure
26 May 23
8-K
Submission of Matters to a Vote of Security Holders
19 May 23
10-Q
2023 Q1
Quarterly report
26 Apr 23
8-K
Cleveland-Cliffs Reports First-Quarter 2023 Results
24 Apr 23
8-K
Entry into a Material Definitive Agreement
14 Apr 23
8-K
Cleveland-Cliffs Provides Preliminary First-Quarter 2023 Results
11 Apr 23
ARS
2022 FY
Annual report to shareholders
3 Apr 23
DEFA14A
Additional proxy soliciting materials
3 Apr 23
DEF 14A
Definitive proxy
3 Apr 23
Transcripts
CLF
Earnings call transcript
2023 Q1
25 Apr 23
CLF
Earnings call transcript
2022 Q3
25 Oct 22
CLF
Earnings call transcript
2022 Q2
22 Jul 22
CLF
Earnings call transcript
2022 Q1
22 Apr 22
CLF
Earnings call transcript
2022 Q4
14 Feb 22
CLF
Earnings call transcript
2021 Q4
11 Feb 22
CLF
Earnings call transcript
2021 Q3
23 Oct 21
CLF
Earnings call transcript
2021 Q2
22 Jul 21
CLF
Earnings call transcript
2021 Q1
22 Apr 21
CLF
Earnings call transcript
2020 Q4
25 Feb 21
Latest ownership filings
Financial summary
| Quarter (USD) | Mar 23 | Dec 22 | Sep 22 | Jun 22 | |
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| Diluted EPS |
| Annual (USD) | Dec 22 | Dec 21 | Dec 20 | Dec 19 | |
|---|---|---|---|---|---|
| Revenue | |||||
| Cost of revenue | |||||
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| Diluted EPS |
| Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
|---|---|---|---|---|---|---|
| Cash on hand (at last report) | 59.00 mm | 59.00 mm | 59.00 mm | 59.00 mm | 59.00 mm | 59.00 mm |
| Cash burn (monthly) | (no burn) | (no burn) | 18.67 mm | (no burn) | 13.00 mm | (no burn) |
| Cash used (since last report) | n/a | n/a | 43.35 mm | n/a | 30.19 mm | n/a |
| Cash remaining | n/a | n/a | 15.65 mm | n/a | 28.81 mm | n/a |
| Runway (months of cash) | n/a | n/a | 0.8 | n/a | 2.2 | n/a |
Institutional ownership, Q1 2023
77.6% owned by funds/institutions
| 13F holders | Current |
|---|---|
| Total holders | 603 |
| Opened positions | 87 |
| Closed positions | 95 |
| Increased positions | 190 |
| Reduced positions | 203 |
| 13F shares | Current |
|---|---|
| Total value | 5.88 tn |
| Total shares | 399.67 mm |
| Total puts | 19.68 mm |
| Total calls | 17.90 mm |
| Total put/call ratio | 1.1 |
| Largest owners | Shares | Value |
|---|---|---|
| MT ArcelorMittal - New York Shares - Level III | 78.19 mm | $989.84 mm |
| BLK Blackrock | 56.45 mm | $1.03 tn |
| Vanguard | 51.25 mm | $939.40 bn |
| STT State Street | 22.62 mm | $414.57 bn |
| FMR | 13.42 mm | $246.02 bn |
| Fisher Asset Management | 8.15 mm | $149.10 bn |
| Geode Capital Management | 7.48 mm | $136.85 bn |
| Dimensional Fund Advisors | 7.11 mm | $130.28 bn |
| MS Morgan Stanley | 6.22 mm | $113.98 bn |
| BK Bank Of New York Mellon | 5.61 mm | $102.83 bn |
Recent insider trades
| Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|---|---|
| 2 May 23 | Michael Ralph S Iii | Common Shares | Buy | Acquire P | No | No | 14.9592 | 10,000 | 149.59 k | 171,840 |
| 1 May 23 | Celso L Goncalves Jr | Common Shares | Buy | Acquire P | No | No | 15.1842 | 6,500 | 98.70 k | 237,726.613 |
| 28 Apr 23 | Yocum Arlene M | Common Shares | Buy | Acquire P | No | No | 15.1351 | 1,500 | 22.70 k | 83,454 |
| 27 Apr 23 | Goncalves Lourenco | Common Shares | Buy | Acquire P | No | No | 14.9635 | 100,000 | 1.50 mm | 2,464,885 |
| 27 Apr 23 | Koci Keith | Common Shares | Buy | Acquire P | No | No | 14.8696 | 7,300 | 108.55 k | 383,358 |
News
Expert Ratings for Cleveland-Cliffs
23 May 23
Benzinga's Top Ratings Upgrades, Downgrades For May 23, 2023
23 May 23
JP Morgan Initiates Coverage On Cleveland-Cliffs with Neutral Rating, Announces Price Target of $18
23 May 23
Morgan Stanley Maintains Overweight on Cleveland-Cliffs, Lowers Price Target to $19
22 May 23
Cleveland-Cliffs Reaches Agreement For State of Minnesota Iron Ore Mineral Leases At Nashwauk
4 May 23
Press releases
Cleveland-Cliffs Amends and Extends ABL Facility Maturity to 2028
9 Jun 23
Cleveland-Cliffs Ranked #170 on Fortune 500 list for 2023
5 Jun 23
Cleveland-Cliffs Gains Minnesota Executive Council Approval of Iron Ore Mineral Leases at Nashwauk
25 May 23
Cleveland-Cliffs Completes Successful Blast Furnace Hydrogen Injection Trial at Middletown Works
8 May 23
Cleveland-Cliffs New 4-Year Labor Agreement Ratified by the IAM Represented Employees at Middletown Works
5 May 23