Cleveland-Cliffs Inc. (NYSE:CLF) is one of the best growth stocks under $30 to buy. On September 15, BofA raised the firm’s price target on Cleveland-Cliffs to $12.50 from $9.50, while keeping a Neutral rating on the shares. This sentiment was announced by the firm ahead of Cleveland-Cliffs’ Q3 2025 earnings report.
Earlier in Q2 2025 earnings, Cleveland-Cliffs reported a $271 million improvement in adjusted EBITDA from the prior quarter. The company achieved 4.3 million tons in shipment volumes, which marked a 150,000-ton sequential increase. Operational efficiencies led to a $15 per ton decrease in unit cost, contrary to expectations of an increase, and the average selling price rose by $35 per ton to $1,015 per ton.
The company’s liquidity stood at $2.7 billion at the quarter’s end. Furthermore, Cleveland-Cliffs is on track with its full-year target for a $50 per ton reduction in steel unit cost and has lowered its full-year 2025 expectations for combined SG&A and capital expenditures by $50 million. The company’s positive performance is supported by benefits from Section 232 steel tariffs, which are seen as supporting the domestic steel industry.
Cleveland-Cliffs Inc. operates as a flat-rolled steel producer in the US, Canada, and internationally. The company was formerly known as Cliffs Natural Resources Inc.
READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
This article is originally published at Insider Monkey.
