Cleveland-Cliffs Inc. Sets Price for Public Offering of 75 Million Common Shares
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 30 2025
0mins
Should l Buy CLF?
Source: Newsfilter
Public Offering Announcement: Cleveland-Cliffs Inc. has priced a public offering of 75 million common shares, aiming for gross proceeds of approximately $964 million, with an option for underwriters to purchase an additional 11.25 million shares.
Use of Proceeds: The company plans to use the net proceeds from the offering primarily for repaying borrowings under its asset-based credit facility and for general corporate purposes.
Underwriter Details: UBS Securities LLC is the underwriter for the offering, which will be available for sale on the New York Stock Exchange and other markets.
Company Overview: Cleveland-Cliffs is a major North American steel producer, focusing on value-added sheet products for the automotive industry, and employs around 30,000 people across the U.S. and Canada.
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Analyst Views on CLF
Wall Street analysts forecast CLF stock price to rise
9 Analyst Rating
2 Buy
5 Hold
2 Sell
Hold
Current: 10.760
Low
5.75
Averages
12.78
High
17.00
Current: 10.760
Low
5.75
Averages
12.78
High
17.00
About CLF
Cleveland-Cliffs Inc. is a steel producer with a focus on value-added sheet products, particularly for the automotive industry in North America. The Company is vertically integrated from the mining of iron ore, production of pellets and direct reduced iron, and processing of ferrous scrap through primary steelmaking and downstream finishing, stamping, tooling, and tubing. Its offering includes advanced high-strength steel, hot-dipped galvanized, aluminized, galvalume, electrogalvanized, galvanneal, hot-rolled coil (HRC), cold-rolled coil, plate, grain oriented electrical steel (GOES), non-oriented electrical steel (NOES), stainless steels, tool and die, stamped components, rail, slab and cast ingot. Its Other Businesses primarily include the Tubular and Tooling and Stamping segments that provide customer solutions with carbon and stainless steel tubing products, advanced-engineered solutions, tool design and build, hot- and cold-stamped steel components and complex assemblies.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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See More
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- CEO Share Sale: Cleveland-Cliffs CEO Lourenco Goncalves sold 3 million shares at approximately $12.42 each, totaling about $37.3 million, which represents nearly half of his total holdings, raising investor concerns about the company's future.
- Tariff Uncertainty: Reports of the Trump administration considering lowering steel and aluminum tariffs have caused market fluctuations, although White House officials denied any changes, stating that only the president could announce such adjustments, putting pressure on the company's stock price.
- Retail Sentiment Surge: Despite CLF shares declining over 20% in the past five days, retail sentiment on Stocktwits surged from 'bullish' to 'extremely bullish' within 24 hours, indicating strong investor confidence in the company's future prospects.
- Diverse Market Reactions: Users on Stocktwits expressed that there is 'zero chance' Trump will reduce steel tariffs, encouraging buying the dip, while others suggested the need for new leadership, reflecting varied opinions on the company's governance.
See More
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- Contract Termination Impact: The company ended a five-year steel slab contract with ArcelorMittal USA in 2025 due to unprofitability driven by tariff-induced price gaps, a decision that will affect future revenue streams significantly.
- Executive Sell-off Triggers Panic: CEO Lourenco Goncalves sold three million shares at an average price of $12.42 on February 11, and while executive sales may be for tax planning, the magnitude of the sale during a stock slump has unsettled investors.
- Optimistic Future Outlook: Despite current challenges, management anticipates a strong recovery in 2026, with automotive volumes rebounding and rising steel prices expected to drive revenue growth, particularly with hot-rolled oil-steel prices projected to be nearly $60 per ton higher sequentially.
See More
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- Inflation Data Impact: The US January CPI rose 2.4% year-over-year, below the expected 2.5%, which may prompt the Fed to continue cutting rates, with the 10-year T-note yield falling to 4.05%, providing support for the market.
- Earnings Performance: Over two-thirds of S&P 500 companies have reported earnings, with 76% exceeding expectations, and Q4 earnings growth is projected at 8.4%, demonstrating corporate resilience and restoring market confidence.
- Market Sentiment Fluctuations: Despite the overall market rise, concerns over AI persist, putting pressure on certain stocks, particularly in tech and logistics, reflecting investor caution regarding future economic prospects.
See More
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- Stock Price Plunge: Following the disappointing earnings report, Cleveland-Cliffs' stock plummeted 32.5% at its lowest point this week, severely undermining investor confidence, particularly after CEO Lourenco Goncalves sold three million shares, which intensified market jitters.
- Recovery Expectations: Despite the poor performance in 2025, management anticipates a strong recovery in 2026, driven by rebounding automotive volumes and rising steel prices, with hot-rolled oil-steel prices expected to be nearly $60 per ton higher sequentially in the first quarter.
- Policy Benefits: Cleveland-Cliffs' Canadian subsidiary Stelco is poised to benefit from the Canadian government's restrictions on steel imports starting December 2025, which will help improve its market conditions and enhance profitability.
See More
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