Cleveland-Cliffs Inc (NYSE:CLF) stock is down 3.5% to trade at $15.12 at last check, after J.P. Morgan Securities downgraded it to "neutral" from "overweight," and cut its price objective to $17 from $23. The analyst in coverage cited weak fundamentals, rising capital expenditure needs, and lack of near-term growth.The brokerage bunch already leaned bearish on Cleveland-Cliffs stock coming into today, with eight of the 11 firms calling it a tepid "hold" or worse. Short sellers are firmly in control as well, ...

Company Performance - Cleveland-Cliffs (CLF) stock closed at $15.65, reflecting a -0.95% change from the previous day's closing price, underperforming the S&P 500 which gained 0.26% [1] - The stock has decreased by 8.78% over the past month, compared to a 2% loss in the Basic Materials sector and a 3.25% gain in the S&P 500 [1] - The upcoming earnings report is expected to show earnings of $0.11 per share, indicating a year-over-year decline of 84.06%, with projected quarterly revenue of $5.32 billion, down 11.04% from the previous year [1] Annual Projections - For the full year, earnings are projected at $0.95 per share and revenue at $21.25 billion, representing declines of -11.21% and -3.41% respectively from the prior year [2] - Recent revisions to analyst forecasts are crucial as they reflect short-term business trends, with positive revisions indicating a favorable outlook on the company's health and profitability [2] Valuation Metrics - Cleveland-Cliffs has a Forward P/E ratio of 16.63, which is a premium compared to its industry's Forward P/E of 16.2 [3] - The company has a PEG ratio of 0.36, significantly lower than the industry average PEG ratio of 3.25, indicating a potential undervaluation relative to expected earnings growth [3] Industry Context - The Mining - Miscellaneous industry, part of the Basic Materials sector, holds a Zacks Industry Rank of 189, placing it in the bottom 25% of over 250 industries [4] - The Zacks Industry Rank assesses industry strength based on the average Zacks Rank of individual stocks, with top-rated industries outperforming the bottom half by a factor of 2 to 1 [4]

The Biden administration announced in May 2024 that it would not only leave the existing tariffs on Chinese steel and aluminum in place but is proposing to triple them. The implications for the United States steel industry is a simple matter of supply and demand. Which is why it’s time for investors to look for steel stocks to buy. The current Section 301 of the Trade Act of 1974 imposes a 7.5% tariff on steel and aluminum imports from China. The Biden administration is proposing increasing those to 25%. Th ...

The most recent trading session ended with Cleveland-Cliffs (CLF) standing at $16.94, reflecting a +0.18% shift from the previouse trading day's closing. This move outpaced the S&P 500's daily gain of 0.03%. Elsewhere, the Dow lost 0.56%, while the tech-heavy Nasdaq added 0.59%.Coming into today, shares of the mining company had lost 6.37% in the past month. In that same time, the Basic Materials sector gained 2.94%, while the S&P 500 gained 4.19%.The investment community will be paying close attention to t ...

Cleveland-Cliffs (CLF) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.Shares of this mining company have returned -26.9% over the past month versus the Zacks S&P 500 composite's -4.2% change. The Zacks Mining - Miscellaneous industry, to which Cleveland-Cliffs belongs, has lost 0.5% over this period. Now the key question is: Where could the stock be headed in the near term?Whil ...

Loading...Loading...The most oversold stocks in the materials sector presents an opportunity to buy into undervalued companies.The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30, according to Benzinga Pro.Here's the latest list of major ...

FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 | Title of each class | Trading Symbol(s) | Name of each exchange on which registered | | --- | --- | --- | | Common shares, par value $0.125 per share | CLF | New York Stock Exchange | | Indicate by check mark whether the registrant (1) has filed all reports required to be f ...

Monty Rakusen/DigitalVision via Getty ImagesCleveland-Cliffs (NYSE:CLF) reported a relatively mundane q1’24 as the firm faces some headwinds and geopolitical pressure in the steel markets. As the domestic market gyrates between automotive OEM production and service center orders, China is drawing down steel inventory in an attempt to normalize localized steel prices by selling internationally. Though I anticipate this to have minimal impact on Cleveland-Cliffs’ long-term steel sales premiums through the ...

Cleveland-Cliffs Inc. (CLF) reported a net loss of $53 million or 14 cents per share in the first quarter of 2024, compared with a loss of $42 million or 11 cents a year ago.Adjusted earnings were 18 cents per share against a loss of 11 cents in the same quarter of the previous year. The figure fell short of the Zacks Consensus Estimate of 19 cents.Revenues dropped around 1.8% from the year-ago quarter’s levels to $5,199 million. The top line missed the Zacks Consensus Estimate of $5,293.6 million. Operatio ...

Earnings disappointed, but looking under the hood, the sell-off could be an opportunity.Shares of steelmaker Cleveland-Cliffs (CLF -9.83%) were falling hard in Tuesday trading, down 9.7% as of 2:10 p.m. ET.Investors apparently took exception with Cliffs missing on revenues and earnings per share in its first-quarter results, which were reported last night. However, the miss appears to be due to an unusual issue with one of Cliffs' customer segments, which appears to have been resolved at the end of the quar ...