Legal and Corporate Disputes - Cleveland-Cliffs CEO Lourenco Goncalves dismissed the lawsuit filed by U.S. Steel and Nippon Steel as a "shameless effort to scapegoat others for their self-inflicted disaster" [2] - U.S. Steel and Nippon Steel have sued Goncalves, Cleveland-Cliffs, and United Steelworkers President David McCall in federal court, alleging coordinated actions to prevent the deal [1] Strategic Moves and Market Reactions - Cleveland-Cliffs CEO Lourenco Goncalves announced a plan to buy U.S. Steel, emphasizing an "all-American solution" focused on workers and people [3] - Cleveland-Cliffs is partnering with Nucor in a potential bid for U.S. Steel, following President Joe Biden's decision to block the sale to Nippon Steel due to national security concerns [3] - Shares of U.S. Steel and Cleveland-Cliffs rose approximately 6% each, while Nucor shares increased by 4% on Monday following the news of a potential offer [4] Geopolitical and Industry Criticism - Goncalves criticized Japan as "evil," accusing the country of teaching China how to dump steel on the U.S. market, overproduce, and create overcapacity [5] - Goncalves challenged Japanese Prime Minister Shigeru Ishiba to address concerns about the blocked acquisition of U.S. Steel with the incoming U.S. administration [5]

Stock Performance - Cleveland-Cliffs (CLF) closed at $10 05, marking a +1 52% increase from the prior day [1] - The stock outperformed the S&P 500, which lost 1 11%, while the Dow lost 0 42% and the Nasdaq lost 1 89% [1] - Over the last month, CLF shares decreased by 19 38%, underperforming the Basic Materials sector's loss of 10 34% and the S&P 500's loss of 1 7% [1] Earnings and Revenue Expectations - The company is expected to report an EPS of -$0 50, down 900% from the prior-year quarter [2] - Revenue is projected at $4 37 billion, down 14 49% year-over-year [2] Analyst Estimates and Revisions - Recent adjustments to analyst estimates reflect short-term business dynamics, with positive revisions indicating optimism about the company's outlook [3] - Estimate changes are directly linked to near-term stock price performance [4] - The Zacks Consensus EPS estimate has moved 39 29% lower over the past month [5] Valuation Metrics - Cleveland-Cliffs has a Forward P/E ratio of 81 53, significantly higher than the industry average of 13 08 [6] - The company's PEG ratio is 11 34, compared to the industry average of 3 77 [6] Industry Overview - The Mining - Miscellaneous industry, part of the Basic Materials sector, has a Zacks Industry Rank of 86, placing it in the top 35% of all industries [7] - The top 50% of industries outperform the bottom half by a factor of 2 to 1 [7]

GLJ Research analyst Gordon L. Johnson II upgraded Cleveland-Cliffs Inc. CLF to Buy from Sell rating with a price forecast of $14.27.The analyst notes the U.S. economy is in worse shape than many acknowledge. With Donald Trump set to take office on January 20, 2025, and his pro-tariff policies likely impacting sectors like steel, the analyst foresee a potential rise in U.S. HRC prices in the near term.In particular, the analyst says that following Trump’s win (November 2016), and Joe Biden’s win (November 2 ...

Global mining firms face significant uncertainty heading into 2025. Ongoing geopolitical turmoil has been both a help and a hindrance—at times it has driven investors toward safe haven assets like precious metals, but it also makes operations for many mining firms more challenging. The prospect of the second Trump administration's policies is also a major question mark. On one hand, tariffs could have a severely negative impact on the industry; on the other, analysts have speculated that a more favorable pe ...

Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today:ClevelandCliffs (CLF) is the largest producer of iron ore pellets in North America. The Zacks Consensus Estimate for its current year earnings has been revised almost 84.6% downward over the last 60 days.89BIO (ETNB) is clinical-stage biopharmaceutical company which is focused on the development and commercialization of therapies for the treatment of liver and cardio-metabolic diseases. The Zacks Consensus Estimate for its current yea ...

It has been about a month since the last earnings report for Cleveland-Cliffs (CLF) . Shares have added about 11.1% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Cleveland-Cliffs due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. Cleveland-Cliffs' Q3 Earnings and Rev ...

Cleveland-Cliffs Inc.’s (CLF) third-quarter 2024 adjusted loss was 33 cents per share. This compares unfavorably with adjusted earnings of 54 cents in the prior-year quarter. Loss per share was wider than the Zacks Consensus Estimate of a loss of 31 cents.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Revenues fell 18.5% to $4,569 million in the quarter from the year-ago quarter. The top line missed the Zacks Consensus Estimate of $4,754.4 million.CLF’s Operational HighlightsThe comp ...

With just one subscription to Beyond the Wall Investing , you can save thousands of dollars a year on equity research reports from banks. You'll keep your finger on the pulse and have access to the latest and highest-quality analysis of this type of information.I've been covering Cleveland-Cliffs Inc. (NYSE: CLF ) stock since June 2021, and all along I've been bullish on the stock for many reasons. The last time - in July 2024 - I argued that CLF's EBITDA growth should continue dueHe leads the investing gro ...

Cleveland-Cliffs (CLF) reported $4.57 billion in revenue for the quarter ended September 2024, representing a year-over-year decline of 18.5%. EPS of -$0.33 for the same period compares to $0.54 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $4.75 billion, representing a surprise of -3.90%. The company delivered an EPS surprise of -6.45%, with the consensus EPS estimate being -$0.31.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | |----------------------------------------------------------------------------|-----------------------------------| | For the transition period from to . | | | Commi ...