CLF

Cleveland-Cliffs reported Q3 2026 revenue of $5.61 billion, up 18.6% year-over-year and beating consensus estimates by 0.56%. EPS of $0.28 significantly exceeded the $0.24 estimate, representing a 16.67% surprise.

However, several key operational metrics fell short of analyst expectations, including total steel product volumes and average net selling prices. The stock has gained 16.8% over the past month and holds a Zacks Rank #2 (Buy) rating.

Cleveland-Cliffs (CLF) is highlighted as an attractive momentum stock trading at a bargain valuation. The mining company has demonstrated strong price momentum with a 16.8% four-week gain and 15.1% twelve-week return, while maintaining a low Price-to-Sales ratio of 0.40x. With a Momentum Score of A and Zacks Rank #2 (Buy), CLF appears positioned for continued upside despite its fast-paced momentum characteristics.

Cleveland-Cliffs reported Q3 2026 adjusted EBITDA more than doubled to $612 million, driven by domestic trade protections and strong steel pricing. The company secured multiyear supply contracts expected to generate $1 billion in incremental EBITDA, postponed a furnace maintenance outage to preserve 500,000 tons of production, and committed all free cash flow to debt reduction. Management projects over $4 billion in EBITDA for 2027 under similar market conditions.