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Critical asset just had biggest fall on record (Ad)
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S&P 500   5,137.08
DOW   39,087.38
QQQ   445.61
Lawyers who successfully argued Musk pay package was illegal seek $5.6 billion in Tesla stock
This is the #1 Stock to Buy for the AI Tidal Wave (Ad)
A US appeals court ruling could allow mine development on Oak Flat, land sacred to Apaches
Peace, music and memories: As the 1960s fade, historians scramble to capture Woodstock's voices
Critical asset just had biggest fall on record (Ad)
In Senegal's capital, Nicaragua is a hot ticket among travel agents as migrants try to reach US
California authorizes expansion of Waymo's driverless car services to LA, SF peninsula
Critical asset just had biggest fall on record (Ad)
Norway's hospitalized king gets a pacemaker in Malaysia after falling ill during vacation
College athletes will need school approval for NIL deals under bill passed by Utah Legislature
S&P 500   5,137.08
DOW   39,087.38
QQQ   445.61
Lawyers who successfully argued Musk pay package was illegal seek $5.6 billion in Tesla stock
This is the #1 Stock to Buy for the AI Tidal Wave (Ad)
A US appeals court ruling could allow mine development on Oak Flat, land sacred to Apaches
Peace, music and memories: As the 1960s fade, historians scramble to capture Woodstock's voices
Critical asset just had biggest fall on record (Ad)
In Senegal's capital, Nicaragua is a hot ticket among travel agents as migrants try to reach US
California authorizes expansion of Waymo's driverless car services to LA, SF peninsula
Critical asset just had biggest fall on record (Ad)
Norway's hospitalized king gets a pacemaker in Malaysia after falling ill during vacation
College athletes will need school approval for NIL deals under bill passed by Utah Legislature
S&P 500   5,137.08
DOW   39,087.38
QQQ   445.61
Lawyers who successfully argued Musk pay package was illegal seek $5.6 billion in Tesla stock
This is the #1 Stock to Buy for the AI Tidal Wave (Ad)
A US appeals court ruling could allow mine development on Oak Flat, land sacred to Apaches
Peace, music and memories: As the 1960s fade, historians scramble to capture Woodstock's voices
Critical asset just had biggest fall on record (Ad)
In Senegal's capital, Nicaragua is a hot ticket among travel agents as migrants try to reach US
California authorizes expansion of Waymo's driverless car services to LA, SF peninsula
Critical asset just had biggest fall on record (Ad)
Norway's hospitalized king gets a pacemaker in Malaysia after falling ill during vacation
College athletes will need school approval for NIL deals under bill passed by Utah Legislature
NYSE:CLF

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

$21.08
+0.28 (+1.35%)
(As of 03/1/2024 ET)
Today's Range
$20.77
$21.19
50-Day Range
$17.73
$21.09
52-Week Range
$13.61
$22.83
Volume
7.39 million shs
Average Volume
7.99 million shs
Market Capitalization
$10.50 billion
P/E Ratio
27.38
Dividend Yield
N/A
Price Target
$20.30

Cleveland-Cliffs MarketRank™ Stock Analysis

Analyst Rating
Hold
2.14 Rating Score
Upside/​Downside
3.7% Downside
$20.30 Price Target
Short Interest
Bearish
6.00% of Float Sold Short
Dividend Strength
N/A
Sustainability
N/A
News Sentiment
0.07mentions of Cleveland-Cliffs in the last 14 days
Based on 18 Articles This Week
Insider Trading
Acquiring Shares
$506,000 Bought Last Quarter
Proj. Earnings Growth
20.49%
From $2.05 to $2.47 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.

2.65 out of 5 stars

Basic Materials Sector

103rd out of 173 stocks

Metal Mining Industry

8th out of 19 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

Critical asset just had biggest fall on record
What many consider America's critical financial asset suffers biggest fall on record. Expert says: "it's very bad for millions, protect yourself now."
Critical asset just had biggest fall on record
What many consider America's critical financial asset suffers biggest fall on record. Expert says: "it's very bad for millions, protect yourself now."
CLF Mar 2024 25.000 call
CLF Oct 2024 14.000 call
CLF Oct 2024 12.000 put
CLF Mar 2024 20.500 put
CLF Mar 2024 20.500 call
CLF Mar 2024 23.500 call
CLF Mar 2024 21.500 put
CLF Mar 2024 15.000 put
3 Stocks to Avoid as Steel Prices Fall in 2024
Cleveland-Cliffs (NYSE:CLF) Lowered to "Hold" at StockNews.com
Cleveland-Cliffs (CLF) to Idle Tin Plant After ITC Ruling
See More Headlines
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Company Calendar

Last Earnings
1/30/2024
Today
3/02/2024
Next Earnings (Estimated)
4/22/2024
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
$20.30
High Stock Price Target
$25.00
Low Stock Price Target
$16.50
Potential Upside/Downside
-3.7%
Consensus Rating
Hold
Rating Score (0-4)
2.14
Research Coverage
7 Analysts

Profitability

Net Income
$399 million
Pretax Margin
2.71%

Debt

Sales & Book Value

Annual Sales
$22.00 billion
Cash Flow
$3.38 per share
Book Value
$16.30 per share

Miscellaneous

Free Float
490,466,000
Market Cap
$10.51 billion
Optionable
Optionable
Beta
2.04

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CLF Stock Analysis - Frequently Asked Questions

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

7 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Cleveland-Cliffs in the last twelve months. There are currently 1 sell rating, 4 hold ratings and 2 buy ratings for the stock. The consensus among Wall Street 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?

7 Wall Street analysts have issued 1-year target prices for Cleveland-Cliffs' stock. Their CLF share price targets range from $16.50 to $25.00. On average, they anticipate the company's stock price to reach $20.30 in the next twelve months. This suggests that the stock has a possible downside of 3.7%.
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 start of the year. Since then, CLF stock has increased by 3.2% and is now trading at $21.08.
View the best growth stocks for 2024 here
.

Are investors shorting Cleveland-Cliffs?

Cleveland-Cliffs saw a increase in short interest in February. As of February 15th, there was short interest totaling 29,340,000 shares, an increase of 21.2% from the January 31st total of 24,210,000 shares. Based on an average daily volume of 9,300,000 shares, the short-interest ratio is presently 3.2 days. Approximately 6.0% of the company's shares 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, April 22nd 2024.
View our CLF earnings forecast
.

How were Cleveland-Cliffs' earnings last quarter?

Cleveland-Cliffs Inc. (NYSE:CLF) posted its quarterly earnings data on Tuesday, January, 30th. The mining company reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). The mining company had revenue of $5.11 billion for the quarter, compared to analysts' expectations of $5.16 billion. Cleveland-Cliffs had a net margin of 1.81% and a trailing twelve-month return on equity of 6.79%. The firm's revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.30) EPS.

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 a number of retail and institutional investors. Top institutional shareholders include Vanguard Group Inc. (10.05%), Fisher Asset Management LLC (1.29%), Dimensional Fund Advisors LP (1.23%), Norges Bank (1.14%), Sound Shore Management Inc. CT (0.80%) and Northern Trust Corp (0.77%). 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 and Susan Miranda Green.
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.
Read More
This page (NYSE:CLF) was last updated on 3/2/2024 by MarketBeat.com Staff