In the latest trading session, Cleveland-Cliffs (CLF) closed at $15.40, marking a +1.45% move from the previous day.
Cleveland-Cliffs is scheduled to report its second quarter earnings later this month and investors' focus is shifting away from capital allocation. Profitability and costs will be in the spotlight, as gross margins seem to have bottomed already. Although there are strong short-term tailwinds, I do not see the stock as a buy yet and the rest of 2024 is unlikely to be a smooth sailing for shareholders.
Cleveland-Cliffs (CLF) reachead $15.47 at the closing of the latest trading day, reflecting a -1.09% change compared to its last close.
Despite recent underperformance, CLF remains undervalued with potential for margin expansion and growth in the steel industry. Analysts' concerns and downgrades may pose risks, but CLF's undervaluation and growth prospects make it a strong 'Buy' in the medium term. I believe CLF's EBITDA growth should continue due to a rebound in service center buyer demand and the continuation of cost reduction programs.
Buying the dip is a strategy often associated with buy-and-hold investors. However, it's also a good strategy for traders.
In the closing of the recent trading day, Cleveland-Cliffs (CLF) stood at $14.45, denoting a -1.97% change from the preceding trading day.
In the latest trading session, Cleveland-Cliffs (CLF) closed at $14.74, marking a -0.41% move from the previous day.
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.
Cleveland-Cliffs (CLF) reachead $14.71 at the closing of the latest trading day, reflecting a -0.88% change compared to its last close.
The May inflation readings showed cooling consumer and producer prices. However, in 2024, it's important to define the meaning of words.
In the closing of the recent trading day, Cleveland-Cliffs (CLF) stood at $15.07, denoting a -0.4% change from the preceding trading day.
Cleveland-Cliffs Inc (NYSE:CLF) stock is down 3.5% to trade at $15.12 at last check, after J.P.