BUZZ - Cleveland-Cliffs Q3 earnings beat expectations, stock price rises

October 19 - ** Shares of Cleveland-Cliffs Inc (CLF.N) rose 11.1% in pre-market trading to $13.46

** The steel manufacturer (link) reported adjusted earnings per share of $0.28 for the third quarter, beating analysts' expectations of $0.19

** Expects adjusted EBITDA to exceed $4 billion in 2027

** Third quarter results benefited from higher steel prices, increased sales volume, and improved operational efficiency — CLF

** Announced a significant reduction in debt during the fourth quarter

** The average rating from 16 analysts is "Hold"; median target price is $12.50 — data compiled by LSEG

** As of the previous trading day close, shares were down 8.7% year-to-date

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