Cleveland-Cliffs gains after Q3 profit beat

Cleveland-Cliffs

Mon 11:22

** Cleveland-Cliffs' shares CLF.N rise 11.1% at 13.46 premarket
** Steelmaker reports Q3 adj. EPS of 28 cents, beating analysts estimates of 19 cents
** Expects 2027 adj EBITDA to exceed $4 bln
** Q3 benefited from higher steel prices, increased sales volumes and improved operating efficiency - CLF
** Announces major debt reduction in Q4
** Average rating of 16 analysts is "hold;" median PT $12.50 - data compiled by LSEG
** Up to last close, stock has fallen 8.7% YTD

 (Reporting by Avinash P in Bengaluru)
 ((Avinash.P@thomsonreuters.com;))