Iron & steel stock Cleveland-Cliffs Inc (NYSE:CLF) was last seen down 3.5% at $9.20, after news broke that the steel producer will temporarily idle two Minnesota facilities.
Recently, Zacks.com users have been paying close attention to Cleveland-Cliffs (CLF). This makes it worthwhile to examine what the stock has in store.
Cleveland-Cliffs (CLF) closed the most recent trading day at $9.56, moving -1.24% from the previous trading session.
Cleveland-Cliffs has underperformed, dropping 26% since my initial "Buy" rating, but I maintain my stance due to recent positive trends. Q4 2024 saw the lowest steel demand since 2010, but financial improvements and a strong order book signal a potential turnaround. The inclusion of Stelco and rising HRC prices could significantly boost CLF's revenues, potentially exceeding market expectations.
The tariffs will allow U.S. steel stocks like NUE, STLD, CLF and X to capitalize on higher prices and reduced competition against cheaper imported steel.
Lourenco Goncalves, Cleveland-Cliffs chairman and CEO, joins CNBC's 'Squawk on the Street' to discuss outlooks on trade, strengthening domestic steel in the U.S., and more.
Cleveland-Cliffs (CLF) closed at $10.06 in the latest trading session, marking a +0.2% move from the prior day.
Recently, Zacks.com users have been paying close attention to Cleveland-Cliffs (CLF). This makes it worthwhile to examine what the stock has in store.
Cleveland-Cliffs Inc. just reported its fourth quarter results and there are some important takeaways. The stock's record low valuation could be a major catalyst in 2025 as management seems well-prepared to take advantage of tariffs. Short-term investors are likely to be rewarded in 2025, but I remain sceptical of stock's performance beyond that.
Cleveland-Cliffs Inc. has multiple catalysts coming forth in 2025, driven by an improved macroeconomic environment and US manufacturing outlook. Section 232 tariffs have the ability to benefit Cleveland-Cliffs on multiple fronts, including price support and higher volume sales if imports decline. Cleveland-Cliffs may also benefit from nearshoring manufacturing, potentially driving more domestic construction projects.
While the top- and bottom-line numbers for Cleveland-Cliffs (CLF) give a sense of how the business performed in the quarter ended December 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Lourenco Goncalves, Cleveland-Cliffs CEO, joins 'Closing Bell Overtime' to talk its outlook for 2025, policy impact, and more.