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NYSE:CLF

Cleveland-Cliffs (CLF) Stock Price, News & Analysis

$16.77
-0.17 (-1.00%)
(As of 05/29/2024 ET)
Today's Range
$16.64
$16.99
50-Day Range
$16.70
$22.83
52-Week Range
$13.61
$22.97
Volume
4.81 million shs
Average Volume
8.49 million shs
Market Capitalization
$7.97 billion
P/E Ratio
22.66
Dividend Yield
N/A
Price Target
$20.64

Cleveland-Cliffs MarketRank™ Stock Analysis

Analyst Rating
Hold
2.13 Rating Score
Upside/​Downside
23.1% Upside
$20.64 Price Target
Short Interest
Bearish
7.18% of Float Sold Short
Dividend Strength
N/A
Sustainability
N/A
News Sentiment
0.62mentions of Cleveland-Cliffs in the last 14 days
Based on 14 Articles This Week
Insider Trading
Selling Shares
$4.46 M Sold Last Quarter
Proj. Earnings Growth
125.26%
From $0.95 to $2.14 Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

3.87 out of 5 stars

Basic Materials Sector

57th out of 174 stocks

Metal Mining Industry

4th out of 22 stocks

CLF stock logo

About Cleveland-Cliffs Stock (NYSE:CLF)

Cleveland-Cliffs Inc. is a prominent player in the steel industry, with a rich history spanning over 170 years. The company aims to be the premier supplier of iron ore pellets in North America and a significant player in the global steelmaking market. Cleveland-Cliffs operates through its various subsidiaries, mining, processing, and selling iron ore and metallurgical coal. The company's headquarters are in Cleveland, Ohio, and it operates in several states across the United States.

Cleveland-Cliffs takes pride in its role as a reliable and responsible supplier of high-quality materials to steel producers. Its primary products include iron ore pellets and hot-briquette iron (HBI), essential raw materials for the steel industry. With a focus on operational excellence, the company leverages its expertise in mining and processing to consistently deliver premium products to its customers.

The company's target market comprises integrated steel producers, the primary consumers of iron ore and metallurgical coal. Cleveland-Cliffs has established long-standing relationships with key customers, including major steel producers in North America. The company plays a critical role in supporting the steel industry's growth and sustainability by providing a secure supply of high-quality raw materials.

Cleveland-Cliffs is led by a seasoned management team with extensive industry experience. Lourenco Goncalves serves as the company's Chairman, President, and Chief Executive Officer. Goncalves has an impressive track record, having previously turned around several troubled companies in the mining sector. Under his leadership, Cleveland-Cliffs has experienced significant growth and improved operational efficiency.

Cleveland-Cliffs has demonstrated moderate financial performance over the past few years. The company has reported increased revenue yearly. This growth was driven by higher iron ore and metallurgical coal prices, increased demand from steel producers and the successful integration of AK Steel. The company's profit margins have also improved. This improvement reflects the company's focus on operational efficiency, cost management, and the realization of synergies from the AK Steel acquisition.

Cleveland-Cliffs is trading at a price-to-earnings (P/E) ratio below the industry average. This suggests that the company's stock may be undervalued compared to its peers. The lower valuation can be attributed to market concerns about cyclicality in the steel industry and uncertainties surrounding commodity prices.

The steel industry is vital to global infrastructure development and manufacturing sectors. Various factors, including construction, automotive manufacturing, and energy infrastructure projects, drive the demand for steel. However, the industry faces challenges such as overcapacity, volatile commodity prices, and increasing environmental regulations.

Cleveland-Cliffs operates in a highly competitive environment, with several global and regional players vying for market share. Competitors include ArcelorMittal, Nucor Corporation, and United States Steel Corporation. Cleveland-Cliffs focuses on operational efficiency, product quality, and customer relationships to maintain a competitive edge.

The company's recent acquisition of AK Steel further strengthens its competitive positioning. By integrating vertically, Cleveland-Cliffs has gained greater control over the steel production process, enabling it to offer a more comprehensive product portfolio and capture additional value.

Cleveland-Cliffs has identified several growth opportunities that can drive its future performance. The company aims to leverage its strong position in the North American market to expand its presence globally. This includes exploring partnerships and acquisitions that provide access to new markets and customers.

Additionally, Cleveland-Cliffs is focused on enhancing its product offerings and diversifying into higher-value products, such as HBI. By catering to evolving customer demands and industry trends, the company aims to capture a larger share of the steel value chain and increase profitability.

While Cleveland-Cliffs has demonstrated resilience and adaptability, it faces certain risks and challenges. Global economic conditions can impact steel demand and pricing, potentially affecting the company's financial performance. Moreover, trade policies and geopolitical tensions can disrupt supply chains and create uncertainties for the industry.

Environmental regulations and sustainability concerns also pose challenges. As the industry shifts towards cleaner and more sustainable practices, Cleveland-Cliffs must continue to invest in technologies and processes that reduce its environmental footprint. Failure to meet evolving environmental standards could result in reputational damage and increased compliance costs.

CLF Stock Price History

CLF Stock News Headlines

Cleveland-Cliffs Looks Solid On The Dip
Harvest ETFs announces May 2024 Distributions
Evaluating Cleveland-Cliffs: Insights From 8 Financial Analysts
Cleveland-Cliffs Inc. (CLF)
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Company Calendar

Last Earnings
4/22/2024
Today
5/29/2024
Next Earnings (Estimated)
7/22/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

Industry
Metal mining
Sub-Industry
Steel
CUSIP
18683K10
Employees
26,000
Year Founded
1847

Price Target and Rating

Average Stock Price Target
$20.64
High Stock Price Target
$24.00
Low Stock Price Target
$16.50
Potential Upside/Downside
+23.2%
Consensus Rating
Hold
Rating Score (0-4)
2.13
Research Coverage
8 Analysts

Profitability

Net Income
$399 million
Pretax Margin
2.70%

Debt

Sales & Book Value

Annual Sales
$22.00 billion
Cash Flow
$3.22 per share
Book Value
$15.65 per share

Miscellaneous

Free Float
467,108,000
Market Cap
$7.97 billion
Optionable
Optionable
Beta
2.10

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CLF Stock Analysis - Frequently Asked Questions

Should I buy or sell Cleveland-Cliffs stock right now?

8 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Cleveland-Cliffs in the last twelve months. There are currently 2 sell ratings, 3 hold ratings and 3 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "hold" CLF shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in CLF, but not buy additional shares or sell existing shares.
View CLF analyst ratings
or view top-rated stocks.

What is Cleveland-Cliffs' stock price target for 2024?

8 analysts have issued 12-month price objectives for Cleveland-Cliffs' stock. Their CLF share price targets range from $16.50 to $24.00. On average, they expect the company's stock price to reach $20.64 in the next year. This suggests a possible upside of 23.1% from the stock's current price.
View analysts price targets for CLF
or view top-rated stocks among Wall Street analysts.

How have CLF shares performed in 2024?

Cleveland-Cliffs' stock was trading at $20.42 at the beginning of the year. Since then, CLF stock has decreased by 17.9% and is now trading at $16.77.
View the best growth stocks for 2024 here
.

Are investors shorting Cleveland-Cliffs?

Cleveland-Cliffs saw a increase in short interest in May. As of May 15th, there was short interest totaling 33,440,000 shares, an increase of 11.9% from the April 30th total of 29,880,000 shares. Based on an average daily volume of 8,110,000 shares, the days-to-cover ratio is currently 4.1 days. Currently, 7.2% of the company's stock are sold short.
View Cleveland-Cliffs' Short Interest
.

When is Cleveland-Cliffs' next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Monday, July 22nd 2024.
View our CLF earnings forecast
.

How were Cleveland-Cliffs' earnings last quarter?

Cleveland-Cliffs Inc. (NYSE:CLF) announced its quarterly earnings results on Monday, April, 22nd. The mining company reported $0.18 earnings per share for the quarter, missing analysts' consensus estimates of $0.19 by $0.01. The mining company had revenue of $5.20 billion for the quarter, compared to analysts' expectations of $5.34 billion. Cleveland-Cliffs had a trailing twelve-month return on equity of 8.69% and a net margin of 1.78%. The company's revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.11) earnings per share.

How will Cleveland-Cliffs' stock buyback program work?

Cleveland-Cliffs declared that its board has initiated a share buyback plan on Monday, April 22nd 2024, which authorizes the company to buyback $1,500,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization authorizes the company to reacquire up to 17.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's management believes its stock is undervalued.

What is Lourenco Goncalves' approval rating as Cleveland-Cliffs' CEO?

38 employees have rated Cleveland-Cliffs Chief Executive Officer Lourenco Goncalves on Glassdoor.com. Lourenco Goncalves has an approval rating of 87% among the company's employees.

What other stocks do shareholders of Cleveland-Cliffs own?

Based on aggregate information from My MarketBeat watchlists, some companies that other Cleveland-Cliffs investors own include Freeport-McMoRan (FCX), Bank of America (BAC), Rite Aid (RAD), Advanced Micro Devices (AMD), Micron Technology (MU), General Electric (GE), AT&T (T), Ford Motor (F), Cisco Systems (CSCO) and Intel (INTC).

Who are Cleveland-Cliffs' major shareholders?

Cleveland-Cliffs' stock is owned by many different retail and institutional investors. Top institutional shareholders include Vanguard Group Inc. (10.41%), Castle Hook Partners LP (0.71%), Drexel Morgan & Co. (0.63%), Price T Rowe Associates Inc. MD (0.61%), Mirae Asset Global Investments Co. Ltd. (0.48%) and Walleye Trading LLC (0.00%). Insiders that own company stock include Arlene M Yocum, Celso L Goncalves Jr, Douglas C Taylor, Janet L Miller, John T Baldwin, Keith Koci, Lourenco Goncalves, Ralph S Michael III, Robert P Fisher Jr, Ron A Bloom, Susan Miranda Green and Terry G Fedor.
View institutional ownership trends
.

How do I buy shares of Cleveland-Cliffs?

Shares of CLF stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

Does Cleveland-Cliffs have any subsidiaries?
The following companies are subsidiares of Cleveland-Cliffs: AK Steel, ArcelorMittal, Cliffs Mining Company, Cliffs Minnesota Mining Company, Cliffs TIOP Holding LLC, Cliffs TIOP II LLC, Cliffs TIOP Inc., Cliffs UTAC Holding LLC, Consolidated Thompson Iron Mines Limited, IronUnits LLC, Northshore Mining Company, PinnOak Resources, and The Cleveland-Cliffs Iron Company.
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This page (NYSE:CLF) was last updated on 5/29/2024 by MarketBeat.com Staff

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