Cleveland-Cliffs (CLF) closed at $9.40 in the latest trading session, marking a +1.08% move from the prior day.
Cleveland-Cliffs (CLF) closed at $9.30 in the latest trading session, marking a +0.65% move from the prior day.
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.
Thwarted expectations of up to 4 rate cuts in 2025 have sent US stocks tumbling down in recent days.
Cleveland-Cliffs (CLF) reachead $9.89 at the closing of the latest trading day, reflecting a -0.6% change compared to its last close.
CLF, ETNB and HZO have been added to the Zacks Rank #5 (Strong Sell) List on November 16, 2024.
Cleveland-Cliffs (CLF) closed at $12.22 in the latest trading session, marking a -0.49% move from the prior day.
Cleveland-Cliffs faces 2024 headwinds from a challenging manufacturing environment, pricing pressures, and weaker automotive demand, but strategic moves position it well for future growth. The Stelco acquisition enhances CLF's supply chain, cuts costs, and boosts its product portfolio, making it a stronger player in North American steel production. Potential tariff and domestic manufacturing support from the Trump administration could provide significant tailwinds, with a 2025 manufacturing rebound expected to drive earnings growth.
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) reported earnings 30 days ago. What's next for the stock?
Goldman Sachs analyst Mike Harris expects the US steel industry to flourish under Donald Trump as the President of the United States. Lower interest rates and steady demand will benefit the domestic steel industry next year, he told clients in a research note today.
Goldman Sachs initiated coverage of Cleveland-Cliffs with a Buy rating and $16 price target. The prevailing sentiment towards the U.S. steel industry seems pessimistic given concerns on global over supply and weak but improving pricing, the analyst tells investors in a research note. The firm is more positive given its belief that both cyclical and structural factors could drive earnings growth for the domestic steel industry despite a weaker global backdrop. Goldman believes the U.S. steel industry and the stocks are near or at the trough of the current cycle.