Cleveland-Cliffs jumps after Q3 results, announcing rare-earth exploration plan

Cleveland-Cliffs

20/10/2025 14:16

Updates

** Shares of Cleveland-Cliffs CLF.N rise 19% to $15.87 premarket

** Q3 revenue was below analysts estimates, but rose 3.6% from a year earlier on better sales mix, improved pricing and cost management

** "Our third quarter results marked a clear sign of demand recovery for automotive-grade steel made in the USA, and that is a direct consequence of the new trade environment implemented and enforced by the Trump Administration," said CEO Lourenco Goncalves

** Goncalves said CLF is planning rare-earth mineral exploration at Michigan and Minnesota mines

** Q3 adjusted loss of 45 cents per share was above analysts' estimated loss of 48 cents - LSEG compiled data

** Q3 revenue $4.73 bln vs. LSEG-compiled data estimate $4.90 bln

** As of last close, stock had risen 41.7% YTD

 (Reporting by Aatreyee Dasgupta)

 ((Aatreyee.Dasgupta@thomsonreuters.com))