On June 23, Cleveland-Cliffs fell 5.26% in regular trading, trading at $11.355/share, with turnover of approximately $47.18 million.

On the news front, Morgan Stanley downgraded Cleveland-Cliffs from Overweight to Equal Weight, while slightly raising the price target from $12 to $12.50. According to FactSet, the stock currently carries an average analyst rating of Hold with a mean price target of $12.

Cleveland-Cliffs is a leading flat-rolled steel producer in North America, primarily manufacturing value-added sheet products for the automotive industry through a vertically integrated operation. The company is also the sole domestic producer of grain-oriented electrical steel in the United States, supplying critical raw materials for power grid transformers. The broader Steel & Iron sector saw widespread weakness, with peers including Vale SA down 2.93%, Nucor down 2.01%, Steel Dynamics down 1.87%, ArcelorMittal down 1.55%, and Posco down 7.07%.

(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.)