Cleveland-Cliffs stock hits 52-week high at 14.36 USD

Cleveland-Cliffs Inc. stock reached a new 52-week high, climbing to 14.36 USD, representing a remarkable 75% surge over the past six months. According to InvestingPro analysis, while this milestone marks a significant point for the company, technical indicators suggest the stock is currently in overbought territory. Over the last 12 months, Cleveland-Cliffs Inc. has experienced a 1-year change of 11.73%, with particularly strong momentum showing in its 48% year-to-date gain. This uptick can be attributed to various factors, including strategic business decisions and favorable market conditions, which have bolstered investor confidence and driven the stock to its current peak. For deeper insights into CLF’s technical patterns and momentum indicators, InvestingPro offers 16 additional expert tips and comprehensive technical analysis tools.

In other recent news, Cleveland-Cliffs Inc. has been active in the financial markets, issuing and pricing a series of senior unsecured guaranteed notes. The company announced the pricing of an additional $275 million of these notes, with an implied yield of 6.992%, expected to close in October 2025. Additionally, Cleveland-Cliffs plans to offer another $200 million in senior notes, expanding its previous $850 million issuance from early September. This expansion will carry the same 7.625% interest rate as the initial offering, with Wells Fargo acting as the sole bookrunner. Earlier, Cleveland-Cliffs issued $850 million in senior notes due 2034 at a 7.625% rate, which are unsecured senior obligations of the company. These notes will mature on January 15, 2034, with interest paid semi-annually starting in 2026. In legal developments, United States Steel Corporation and Nippon Steel Corporation have voluntarily dismissed their lawsuit against Cleveland-Cliffs and its executives, originally filed in January 2025.

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