CLF Stock Summary and Trading Ideas (Cleveland-Cliffs | NYSE:CLF)

Cleveland-Cliffs Inc is a flat-rolled steel producer and manufacturer of iron ore pellets in North America. It is organized into four operating segments based on differentiated products, Steelmaking, Tubular, Tooling and Stamping and European Operations, but operates through one reportable segment -Steelmaking. It is vertically integrated from mined raw materials, direct reduced iron, and ferrous scrap to primary steelmaking and downstream finishing, stamping, tooling and tubing. It serves a diverse range of other markets due to its comprehensive offering of flat-rolled steel products. Geographically, it operates in the United States, Canada and other countries. The majority of revenue is from the United States. It is a supplier of steel to the automotive industry in North America.

Cleveland-Cliffs trades on the NYSE stock market under the symbol CLF.

As of April 23, 2024, CLF stock price declined to $18.55 with 31,392,279 million shares trading.

CLF has a beta of 1.18, meaning it tends to be more sensitive to market movements. CLF has a correlation of 0.13 to the broad based SPY ETF.

CLF has a market cap of $9.24 billion. This is considered a Mid Cap stock.

Last quarter Cleveland-Cliffs reported $5 billion in Revenue and $.18 earnings per share. This fell short of revenue expectation by $-151 million and missed earnings estimates by -$.04.

In the last 3 years, CLF stock traded as high as $34.04 and as low as $11.83.

The top ETF exchange traded funds that CLF belongs to (by Net Assets): VTI, IJH, VB, COWZ, VBR.

CLF has underperformed the market in the last year with a price return of +16.8% while the SPY ETF gained +24.3%. CLF has also underperformed the stock market ETF in the last 3 month and 2 week periods returning +2.6% and -17.3%, respectively, while the SPY returned +4.9% and -2.5%, respectively.

CLF support price is $20.42 and resistance is $21.28 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that CLF stock will trade within this expected range on the day.