Movement Alert|Cleveland-Cliffs Rises 5.2% in Regular Trading, GLJ Research Upgrades Rating and Raises Target Price to $15.01

Market Focus06-11

On June 11, Cleveland-Cliffs rose 5.2% in regular trading, trading at $13.02/share, with turnover of $46.56 million.

On the news front, GLJ Research upgraded Cleveland-Cliffs from Sell to Hold, significantly raising its target price from $9.03 to $15.01, implying approximately 15% upside from the current level. The upgrade follows a period of notable selling pressure, including the CFO Celso L. Goncalves Jr. disposing of 214,308 shares at an average price of $13.4136 on June 5, which had previously weighed on sentiment.

The broader steel sector rallied in tandem, providing additional tailwinds. Among peers, ArcelorMittal rose 3.71%, Nucor gained 2.28%, Steel Dynamics climbed 2.25%, and Reliance Steel & Aluminum advanced 2.23%, reflecting a broad-based recovery across the industry.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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