B. Riley Securities Raises CLF Price Target to $18

B. Riley Securities maintained its Buy rating on Cleveland-Cliffs Inc. (NYSE:CLF) on October 22, 2026, while raising its price target from $15.00 to $18.00. The research note arrived as analysts updated views on the steel producer, which closed at $13.40 on the day of the announcement.

CLF Cleveland-Cliffs Inc.

$13.31 ▼ -2.13% year to date

1M 3M YTD

Daily close · Oct 22, 2026

B. Riley Securities's Call on Cleveland-Cliffs

In its research note on October 22, 2026, B. Riley Securities kept its Buy rating on Cleveland-Cliffs while lifting its price target to $18.00 from $15.00. The higher target sits alongside a wave of recent updates from other Wall Street firms covering the basic materials company.

Other Institutional Activity in Cleveland-Cliffs

Slate Path Capital, LP grew its holdings by 9,165,970 shares, ending with 28,410,081 shares worth about $380,695,074. Shaw D.E. & Co., Inc. added 2,659,626 shares, finishing with 15,385,109 shares valued at roughly $206,160,454. Two Sigma Investments, LP boosted its stake by 1,278,069 shares to hold 15,200,394 shares worth about $203,685,273. Fairfax Financial Holdings Ltd kept its holdings steady at 14,899,273 shares valued at roughly $199,650,252.

Cleveland-Cliffs Inc. Stock Down 1.8%

Cleveland-Cliffs shares recently traded around $13.41 as of October 22, 2026, putting the stock up about 0.1% compared to its event-day close of $13.40. The price sits well above its 50-day moving average of $12.10 and its 200-day moving average of $11.34. Over the past year, the shares have traded between a low of $7.73 and a high of $15.35.

Recent Earnings

Cleveland-Cliffs generated trailing twelve month revenue of $20,073,000,960 with a basic trailing twelve month EPS of -$0.83. The company recorded a net profit margin of -2.4% and a return on equity of -7.3%. The next earnings report is scheduled for release on February 8, 2027.

Insider Buying and Selling at Cleveland-Cliffs Inc.

Company insiders executed several transactions prior to the recent analyst updates. Chief Executive Officer Lourenco Celso Goncalves disposed of 3,000,000 shares on February 11, 2026, at an average price of $12.42 for a total value of $37,257,300. Director Edilson Camara picked up 19,700 shares on February 13, 2026, at an average price of $10.13, totaling $199,626. Chief Operating Officer Clifford T. Smith parted with 200,000 shares on February 17, 2026, at an average price of $10.46 for a total value of $2,092,080. Later, Chief Financial Officer Celso L. Goncalves Jr. shed 214,308 shares on June 5, 2026, at an average price of $13.41 for a total value of $2,874,642.

Analysts Set New Price Targets

Wall Street firms have adjusted their views on the steelmaker through October. On October 20, 2026, Morgan Stanley maintained an Equal-Weight rating and moved its target from $12.50 to $14.00. Wells Fargo kept an Overweight rating on October 20, 2026, raising its target to $17.00 from $14.00. Alongside B. Riley's update on October 22, 2026, Barclays maintained an Underweight rating and moved its target from $11.00 to $12.00, while JP Morgan kept a Neutral rating and lifted its target from $12.00 to $13.00. Across the broader analyst community, the stock carries a consensus hold rating and a mean price target of $13.95 based on 10 analyst opinions.

About Cleveland-Cliffs

Cleveland-Cliffs Inc. operates as a major steel producer in the United States and Canada. The company manufactures hot-rolled, cold-rolled, and coated carbon steel products, alongside specialized stainless and electrical steel items used across various industrial sectors. Analyst updates like B. Riley's higher target track how market observers gauge the firm's operational direction in the basic materials sector.

Bottom Line

B. Riley Securities' decision to lift its price target to $18.00 highlights differing views among analysts covering the steel producer. Investors will watch for the company's next earnings report on February 8, 2027, for updated financial metrics.