Cleveland-Cliffs Inc. (NYSE:CLF) is one of the stocks Jim Cramer answered questions about. Mentioning that they have an outsized position in the stock, a caller asked if it is a buy, sell, or hold, and Cramer replied: Okay, my favorite is Nucor. I’m not going to recommend Cleveland-Cliffs over Nucor because I think Nucor is the superior operator and has been for some time now. You’re going to be able to buy Nucor at a discount. They reported a number of people didn’t like it, but it was at its 52-week hig ...

Summary of J.P. Morgan North America Metals & Mining 2026 Buy-Side Sentiment Survey Industry Overview - The survey focuses on the Metals & Mining (M&M) sector, with insights into investor sentiment for 2026 based on responses from 25 investors, divided into 72% Long Onlys (LOs) and 28% Hedge Funds (HFs) [1][12]. Key Findings Sector Rankings - **Copper** is the top-ranked sub-sector for 2026, followed by **Gold**. **Steel** has dropped significantly from 2nd to 7th place [1]. - **Copper** is also the top-ranked commodity, while **Rare Earths** and **Steel** have both seen a decline in their rankings [1]. - **Freeport-McMoRan (FCX)** is identified as the top long investment due to its strong correlation with copper prices (~95%) and exposure to gold pricing [1][6]. - **Cleveland-Cliffs (CLF)** is viewed as the top short investment due to high debt levels and tariff challenges [1][6]. Investor Sentiment - 72% of investors expect the M&M sector to outperform the broader market in 2026, a significant increase from 41% in the previous survey [1][12]. - The primary themes influencing sector performance are **trade policy and protectionism**, and **onshoring and supply security** [1][16]. Tariff Expectations - 78% of participants anticipate some form of **S232 tariff relief** in 2026, with 72% expecting partial relief [1][19]. - 61% expect exemptions for Mexico and Canada, while 39% foresee country-specific exemptions [1][19]. M&A Activity - A significant 84% of participants expect an increase in M&A activity within the M&M sector in 2026, up from 50% in the prior survey [1][80]. Commodity and Stock Preferences Copper - FCX is again ranked as the best-performing copper stock, with 83% of participants favoring it [1][64]. - Concerns about potential near-term corrections in copper prices were noted, alongside positive sentiment regarding the restart of Grasberg's operations [1][6]. Steel - Investor sentiment towards steel has weakened, with CMC emerging as the best-performing steel stock due to its high-margin precast business and favorable trade policies [1][60]. Aluminum - **Alcoa (AA)** is expected to be the best-performing aluminum stock, with 63% of votes, followed by downstream players CSTM and KALU [1][71]. Rare Earths and Uranium - **MP Materials (MP)** is viewed as the best-performing stock in the rare earths/lithium/uranium sector, receiving 56% of the votes [1][76]. Underappreciated Themes - Several themes were identified as potentially underappreciated, including: - Valuations relative to the AI ecosystem - Copper demand related to power sectors - Supply and demand dynamics in uranium [1][84]. Conclusion - The survey indicates a bullish outlook for the M&M sector in 2026, driven by strong expectations for copper and gold, alongside anticipated tariff relief and increased M&A activity. Investors are advised to consider these dynamics when making investment decisions in the sector [1][12][80].

五大评级上调个股 五大评级下调个股 五大首次覆盖评级个股 1. 梅利厄斯研究将达登餐饮（DRI）的评级从 "持有" 上调至 "买入"，目标价从 240 美元上调至 265 美元。该机构表示，达登餐饮坚持价值导向的运营策略，正为其带来稳定的客流量与持续的市场 份额增长。瑞穗证券同时将达登餐饮的评级从 "中性" 上调至 "跑赢大盘"，目标价从 195 美元上 调至 235 美元。 2. 摩根大通将宝洁公司（PG）的评级从 "中性" 上调至 "增持"，目标价从 157 美元上调至 165 美 元。该机构在研报中向投资者指出，宝洁有望在中期加速内生性销售增长，并进一步提升利润 率。 3. 加拿大皇家银行资本市场旗下考恩公司将飞塔信息（FTNT）的评级从 "持有" 上调至 "买入"，目 标价维持 100 美元不变。该机构称，对飞塔信息的渠道调研显示，公司在 2026 财年整体运营将保 持稳定。 4. 德意志银行将应用材料公司（AMAT）的评级从 "持有" 上调至 "买入"，目标价从 275 美元大幅上 调至 390 美元。该机构上调了对应用材料的业绩预期，以此反映 2026 至 2027 年晶圆制造设备行 业将迎来 " ...

Company Overview - Cleveland-Cliffs stock experienced a nearly 10% increase this week after a downgrade led to a previous drop, indicating investor interest in the stock despite recent valuation concerns [1][2] - The current stock price is $14.01, with a market capitalization of $8.0 billion [3] Stock Performance - The stock has risen over 50% in the last six months, reflecting strong market performance prior to the downgrade [2] - The stock's 52-week range is between $5.63 and $16.70, showing significant volatility [4] Industry Context - The steel industry is benefiting from increased demand in infrastructure, construction, and automotive sectors, which is driving up prices and profit margins for domestic producers [4] - Anticipation of economic recovery, potential interest rate reductions, and robust government infrastructure investment are contributing to positive sentiment in the steel sector [4] Peer Comparison - Nucor, a domestic peer, has also seen its stock rise nearly 7% since the beginning of the year, indicating a broader trend in the steel industry [5] - The upcoming earnings season will be crucial to determine if the demand is benefiting all domestic steelmakers or if the gains are specific to certain companies [5]

Core Thesis - Cleveland-Cliffs Inc. is positioned for significant upside due to both company-specific and macroeconomic factors, with a current share price of $13.36 and P/E ratios of 133.67 (trailing) and 62.89 (forward) [1][2] Company-Specific Developments - The company has not experienced the same multi-hundred percent returns as other steel companies over the past five years, creating an asymmetric investment opportunity [2] - A potential strategic investment from POSCO, estimated at a 10% to 20% stake, could enhance the balance sheet and validate Cleveland-Cliffs' vertically integrated U.S. steel model [3] - Management has taken steps to improve margins by idling or permanently closing at least six low-margin facilities, with further rationalization expected [4] Macro Factors - Tariffs are boosting domestic pricing power, while a changing interest rate environment could ease Cleveland-Cliffs' debt burden, especially with potential rate cuts anticipated before 2026 [5] - Demand-side factors, such as interest-free or subsidized auto financing, are expected to support vehicle production and increase steel intensity, aligning with the company's focus on higher-value markets [5] Future Outlook - Options activity post-May may confirm improving fundamentals, with a reasonable upside target of $20 under pessimistic assumptions and a potential move above $30 in a favorable macro and execution scenario [6] - A pro-manufacturing policy backdrop could further amplify gains for Cleveland-Cliffs [6] - The thesis on Cleveland-Cliffs shares similarities with a previous bullish thesis on Steel Dynamics, emphasizing balance sheet repair and macro tailwinds [8]

Core Viewpoint - Cleveland-Cliffs Inc (NYSE:CLF) is experiencing a recovery in its stock price after a significant decline, despite a downgrade from KeyBanc, indicating potential for further gains due to technical indicators and market conditions [1][2]. Group 1: Stock Performance - CLF's stock rose by 2.6% to $12.35, recovering from a previous drop of 9.3% [1]. - The stock is approaching a historically bullish trendline, suggesting a potential rebound [1]. Group 2: Technical Indicators - The stock is currently within 0.75 of the 126-day moving average's 20-day average true range (ATR), having remained above this level 80% of the time in the past two weeks and 80% of the last 42 trading sessions [2]. - Historical data shows that similar signals have led to a 75% chance of the stock being higher one month later, with an average gain of 4.3% [2]. Group 3: Market Sentiment - A short squeeze may provide additional support, with short interest at 13.1% of the stock's available float, equating to nearly three days of buying power [4]. - The 14-day relative strength index (RSI) of 28.1 indicates that the stock is in "oversold" territory, which often precedes a short-term bounce [4].

Group 1 - Cleveland-Cliffs Inc. (CLF) is the largest flat-rolled steel company in North America and has consistently been rated as a "Buy" due to its significant growth potential [1] - The company is covered by analysts who provide insights and analysis, helping investors balance growth and value [1] - Beyond the Wall Investing offers features such as a fundamentals-based portfolio, weekly analysis from institutional investors, and alerts for short-term trade ideas based on technical signals [1]

Group 1 - Cleveland-Cliffs Inc. (CLF) is the largest flat-rolled steel company in North America and has consistently been rated as a "Buy" due to its significant growth potential [1] - The company is covered by analysts who provide insights and analysis, helping investors balance growth and value [1] - Beyond the Wall Investing offers features such as a fundamentals-based portfolio, weekly analysis from institutional investors, and alerts for short-term trade ideas based on technical signals [1]

Core Viewpoint - Cleveland-Cliffs' stock experienced a significant decline of over 9% following an analyst downgrade, reflecting concerns about the company's future performance [1][2]. Group 1: Analyst Downgrade - Analyst Philip Gibbs of KeyBanc downgraded Cleveland-Cliffs from overweight (buy) to sector weight (hold), noting that the stock had surpassed his price target of $13 per share [2]. - Gibbs expressed concerns about diminishing business-boosting catalysts, particularly a decline in activity from auto industry customers, and noted that costs are slightly higher than previously anticipated [3]. Group 2: Company Strengths - Despite the downgrade, Gibbs highlighted several favorable factors for Cleveland-Cliffs, including its strategic cooperation with POSCO, a leading Korean steelmaker, which could positively impact its operations and finances [4]. Group 3: Investment Perspective - While Cleveland-Cliffs remains a top steel producer in the U.S., it is not viewed as a compelling investment opportunity, with no anticipated surges in demand, even amid efforts to bolster domestic manufacturing [5]. - The Motley Fool Stock Advisor team has identified ten stocks they believe are better investment opportunities than Cleveland-Cliffs, indicating a lack of confidence in the company's potential for significant returns [6][7].

Core Viewpoint - Shares of major steel companies in India experienced a significant increase, ranging from 2% to 4.5%, following the imposition of import tariffs on certain steel products by the Indian government to limit low-cost imports from China [1] Group 1: Market Reaction - Major steel companies in India saw their stock prices rise between 2% and 4.5% on Wednesday [1] - The increase in share prices occurred a day after the government announced new import tariffs [1] Group 2: Government Action - The Indian government has implemented import tariffs on specific steel products [1] - The primary objective of these tariffs is to curb the influx of inexpensive steel shipments from China [1]