BUZZ-Cleveland-Cliffs falls after Wells Fargo downgrade
Reuters
Oct 21, 2025
BUZZ-Cleveland-Cliffs falls after <a href="https://laohu8.com/S/EOD">Wells Fargo</a> downgrade
** Shares of steelmaker Cleveland-Cliffs CLF.N down about 3% at $15.70 premarket
** Wells Fargo downgrades rating to "underweight" from "equal weight"
** "The share move looks to us like an overreaction to an MOU with a foreign steel mill and potential rare earth deposits" analyst Timna Tanners says
** Brokerage says it remains skeptical of attractive returns from the region citing a lack of information provided by co on other deposits
** CLF on Monday reported a Q3 loss that was narrower than Wall Street estimates
** Four of 15 brokerages rate CLF stock "buy", eight "hold" and three "sell" or lower; median PT is $12 - data compiled by LSEG
** Shares up ~72% YTD
(Reporting by Sanskriti Shekhar in Bengaluru)
((Sanskriti.Shekhar@thomsonreuters.com))
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