28-Mar-2024
US Steel edges higher as traders suggest Nippon Steel deal may not be dead
Seeking Alpha News (Wed, 27-Mar 3:12 PM ET)
Cleveland-Cliffs hikes prices for hot rolled steel for a second time in March
Seeking Alpha News (Wed, 27-Mar 12:09 PM ET)
Cleveland-Cliffs hikes prices for steel products for a second time in March
Seeking Alpha News (Wed, 27-Mar 12:09 PM ET)
Cleveland-Cliffs Announces Price Increase for Hot Rolled, Cold Rolled and Coated Steel Products
Business Wire (Wed, 27-Mar 9:21 AM ET)
Cleveland-Cliffs wins up to $575M in DoE funding for decarbonization projects
Seeking Alpha News (Mon, 25-Mar 8:02 AM ET)
Business Wire (Mon, 25-Mar 6:12 AM ET)
Cleveland-Cliffs Announces Final Results of Tender Offer
Business Wire (Mon, 18-Mar 9:30 AM ET)
Business Wire (Mon, 4-Mar 3:24 PM ET)
Cleveland-Cliffs Announces Tender Offer for Any and All of its 6.750% Senior Secured Notes due 2026
Business Wire (Mon, 4-Mar 8:16 AM ET)
Cleveland-Cliffs Announces Proposed Offering of $750 Million of Senior Unsecured Guaranteed Notes
Business Wire (Mon, 4-Mar 8:13 AM ET)
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 March 28, 2024, CLF stock price climbed to $22.74 with 6,395,265 million shares trading.
CLF has a beta of 1.30, meaning it tends to be more sensitive to market movements. CLF has a correlation of 0.16 to the broad based SPY ETF.
CLF has a market cap of $11.33 billion. This is considered a Large Cap stock.
Last quarter Cleveland-Cliffs reported $5 billion in Revenue and -$.05 earnings per share. This fell short of revenue expectation by $-38 million and missed earnings estimates by -$.01.
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): IJH, VTI, VB, COWZ, VBR.
CLF has underperformed the market in the last year with a return of +29.9%, while the SPY ETF gained +33.6%. In the last 3 month period, CLF fell short of the market, returning +8.7%, while SPY returned +10.1%. However, in the most recent 2 weeks CLF has outperformed the stock market by returning +11.3%, while SPY returned +1.7%.
CLF support price is $21.63 and resistance is $22.63 (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.