Zacks.com users have recently been watching Cleveland-Cliffs (CLF) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
Cleveland-Cliffs remains a Buy despite the failed U.S. Steel acquisition and falling steel prices, as fundamentals remain strong. The company's vertical model and Trump's 25% steel tariffs enhance competitiveness, particularly against foreign producers, offering long-term advantages. Financial results show a tough 2024 with a significant drop in steel prices, leading to negative cash flow and increased debt, but management remains optimistic.
Cleveland-Cliffs (CLF) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term.
Indexes mostly shrugged off +25% steel tariffs announced by President Trump; VRTX, LSCC report for Q4.
Jim Lebenthal, Chief Equity Strategist at Cerity Partners, joins CNBC's "Halftime Report" to detail his strategy on one of his long-time stocks Cleveland Cliffs as the stock rallies today on Trump Tarriff news.
Shares of steel producer Cleveland-Cliffs (CLF 11.30%) were moving higher today as steel stocks jumped broadly after President Trump said on Sunday that he would impose 25% tariffs on all steel and aluminum imports to the U.S.
Shares of Cleveland-Cliffs Inc. CLF are trading higher Monday. This follows President Trump's vow to impose a 25% tariff on steel and aluminum imports.
In the most recent trading session, Cleveland-Cliffs (CLF) closed at $10.46, indicating a -0.57% shift from the previous trading day.
Lower demand in the automotive sector weighs on CLF in the second half of 2024.
Cleveland-Cliffs (CLF) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
The broader stock market sentiment has been shaky due to concerns that President Trump will implement potential trade tariffs, affecting some of the major industries in the United States economy and those of its trading partners. However, some of the market's signals may indicate that these tariffs may be a positive development for domestic manufacturing stocks.
While CLF benefits from its vertically integrated footprint, cost-saving actions and the Stelco buyout, weaker steel prices cast a pall on its prospects.