After hours: 5:58PM EST
|Bid||8.40 x 34100|
|Ask||8.42 x 800|
|Day's Range||8.38 - 8.72|
|52 Week Range||6.30 - 13.10|
|Beta (3Y Monthly)||2.35|
|PE Ratio (TTM)||3.07|
|Earnings Date||Feb 8, 2019|
|Forward Dividend & Yield||0.05 (0.57%)|
|1y Target Est||11.35|
# Cleveland-Cliffs Inc ### NYSE:CLF View full report here! ## Summary * Bearish sentiment is high * Economic output in this company's sector is contracting ## Bearish sentiment Short interest | Negative Short interest is high for CLF with between 15 and 20% of shares on loan. This means that investors who seek to profit from falling equity prices are currently targeting CLF. However, the last change in the short interest score occurred more than 1 month ago and implies that there has been little change in sentiment. ## Money flow ETF/Index ownership | Neutral ETF activity is neutral. The net inflows of $3.24 billion over the last one-month into ETFs that hold CLF are not among the highest of the last year and have been slowing. ## Economic sentiment PMI by IHS Markit | Negative According to the latest IHS Markit Purchasing Managersâ€™ Index (PMI) data, output in the Basic Materialsis falling. The rate of decline is significant relative to the trend shown over the past year. ## Credit worthiness Credit default swap CDS data is not available for this security. Please send all inquiries related to the report to firstname.lastname@example.org. Charts and report PDFs will only be available for 30 days after publishing. This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
On CNBC's "Mad Money Lightning Round" , Jim Cramer said Cleveland-Cliffs Inc (NYSE: CLF ) is the best company in the show, but the stock is not going to be a good stock if Fed tightens again. ...
CLF: Why Jim Cramer Is Worried about This 'Best-in-Show' Stock ## Jim Cramer: CLF is ‘Best-in-Show’ company Yesterday, Jim Cramer, the Mad Money host, answered caller’s questions regarding Cleveland-Cliffs (CLF) stock. He said, “The company’s best in show, but I’ve got to tell you, the stock is not going to be a good stock if the Fed tightens again. I don’t think they’re going to in the near future, but I’ve got to tell you, it makes me nervous.” ## Fed’s rate hike chances bleak On January 4, Fed Chair Jerome Powell said that the Fed could be more patient with its policy stance if needed. Yesterday, he again stressed that the Fed could be patient while approving further hikes, as it continues to monitor the gauges of the US economy (SPY). These two back-to-back appearances from the Fed chair with dovish statements have assured markets that the Fed will not take any surprise action on rate hikes. The markets have been quite relieved with this stance from the Fed as well as from the recently concluded US-China trade talks. ## Cleveland-Cliffs’ fundamentals While Cleveland-Cliffs stock rose by 6.7% in 2018, it plunged 39% in the last quarter alone. This, however, had more to do with the overall risk-off sentiment and the slowdown concerns of China rather than anything related to CLF itself. As compared to CLF’s positive price action, its US peers (DIA) (IVV), AK Steel (AKS), U.S. Steel (X), ArcelorMittal (MT), Steel Dynamics (STLD), and Nucor (NUE) reported returns of -60%, -48%, -36%, -30%, and -18%, respectively, for 2018. Cleveland-Cliffs’ fundamentals have been improving since its new management took over in 2014. Its non-core assets have sold off with the seaborne operations being the last, which took a lot of volatility out of the stock. Its debt concerns have been laid to rest. Moreover, the company is solidly marching on its growth path with the ongoing construction of an HBI (hot briquetted iron) plant. As we argued in Why Now Might Be a Good Time to Look Again at Cleveland-Cliffs, CLF is attractively valued based on its multiple relative to its peers and its historical valuation. See Revisiting the Case: How Does Cleveland-Cliffs Look Now? for an in-depth analysis of CLF’s fundamentals and valuations.
Steel Companies’ 2019 Outlook: Can the Winning Streak Continue? (Continued from Prior Part) ## China’s slowdown China is the world’s largest steel producer, consumer, as well as exporter. Over the last few months, we’ve seen a flurry of soft economic data from China (FXI). From the perspective of steel companies (MT), the slowdown has been quite significant in the real estate and automotive sectors, which happen to be the two largest steel end consumers. ## Stimulus While China has been talking about monetary and fiscal policy initiatives to lift its economy, it has shied away from stimulus for the housing and automotive sectors. As for the housing sector, it seems quite unlikely that China would look at a specific package, as the country has been trying to address property speculation. However, a relief package for the automotive sector might still be expected. In 2015 also, China had lowered its purchase tax on cars to provide a boost to sagging vehicle sales. The purchase tax was gradually increased and was restored at the original level of 10% last year. ## Demand As Chinese steel demand has faltered, Chinese steel prices have come under pressure. Falling Chinese steel prices have had a domino effect on global as well as US steel prices. Now, while China’s slowdown is a known factor, the steps taken by China to bolster its economy could drive steel prices this year. Investors in US steel and iron ore companies like U.S. Steel (X), AK Steel (AKS), and Cleveland-Cliffs (CLF) should closely follow the policy steps taken by the Chinese government including its supply-side reforms. Meanwhile, even with the known headwinds, US steel stocks might look attractive from a valuation standpoint. We’ll discuss this more in the next and final article. Continue to Next Part Browse this series on Market Realist: * Part 1 - Steel Companies’ 2019 Outlook: Can the Winning Streak Continue? * Part 2 - Are We Seeing a Typical Dead Cat Bounce from Steel Stocks? * Part 3 - What Should US Steel Investors Watch Out for in 2019?
Jim Cramer flies through his responses to callers' stock questions, including one on a Fed-sensitive name.
Steel Companies’ 2019 Outlook: Can the Winning Streak Continue? (Continued from Prior Part) ## US steel investors 2019 has started on a positive note for US steel stocks like U.S. Steel (X), Nucor (NUE), and AK Steel (AKS). In this article, we’ll see what US steel investors should watch out for this year after a strong start to the year. ## Domestic factors The demand-supply equation could be a key driver of US steel prices (MT). Over the last couple of months, US steel demand indicators, particularly from the housing and automotive sectors, have shown signs of moderating growth. On the supply side, US steel production has been on an uptrend on domestic capacity restarts. So far, incremental supply hasn’t negatively impacted the supply situation, as it has been accompanied by a fall in imports. However, it will be crucial to see how the imports situation unfolds this year. ## China Steel investors (CLF) are also closely watching China’s slowdown. Chinese steel prices came under pressure last year amid weak demand from the real estate and automotive sectors. The steps taken by the Chinese government to arrest the growth slowdown could impact Chinese as well as US steel prices. This year, we could see the Trump administration move forward on new trade deals. This could also mean Section 232 exemptions for more countries. From steel companies’ perspective, it would be crucial that the exemptions are accompanied with a quota. Finally, Trump’s policies on the proposed infrastructure investments could be a key driver for steel companies this year. We’ll discuss these drivers in detail in the coming articles. Continue to Next Part Browse this series on Market Realist: * Part 1 - Steel Companies’ 2019 Outlook: Can the Winning Streak Continue? * Part 2 - Are We Seeing a Typical Dead Cat Bounce from Steel Stocks? * Part 4 - Are Steel Oversupply Concerns Unfounded?
Steel Companies’ 2019 Outlook: Can the Winning Streak Continue? As noted in the previous article, steel stocks are having a strong run in 2019. Last year, steel stocks had a terrible time and U.S. Steel (X) and AK Steel (AKS) fell 48.2% and 60.2%, respectively.
Steel Companies’ 2019 Outlook: Can the Winning Streak Continue? ## Steel companies’ 2019 outlook US steel companies are having a good run so far in 2019. Steel stocks that fell sharply last year have seen upwards price action in the first week of 2019. U.S. Steel (X) and AK Steel (AKS) have risen 13.5% and 19.5% YTD, respectively, based on their closing prices on January 8. Nucor (NUE) and Steel Dynamics (STLD), which seem to be set for record 2018 earnings, have seen an upwards price action of 6.6% and 9.6% so far. Cleveland-Cliffs (CLF), which supplies iron ore to US steel companies, is up 11.3%. ## Broader markets So far steel stocks are outperforming broader equity markets (SPY). In December 2018, steel stocks hit their 52-week lows amid the plunge in broader markets. So, is the current uptrend sustainable, or are the gains a typical dead cat bounce that we see in beaten-down stocks? We’ll discuss this question in detail in this series. We’ll also do a detailed analysis of steel companies’ 2019 outlook, which could help us understand what lies ahead for the sector. ## President Trump Meanwhile, President Trump’s love for steel has continued in 2019 as well. Last year, Trump imposed tariffs on US steel imports that helped catapult US steel prices to multiyear highs. Now, Trump is proposing that the wall on the Mexican border could be made of steel, which could potentially lift US steel demand by ~3 million tons according to the American Iron and Steel Institute. Continue to Next Part Browse this series on Market Realist: * Part 2 - Are We Seeing a Typical Dead Cat Bounce from Steel Stocks? * Part 3 - What Should US Steel Investors Watch Out for in 2019? * Part 4 - Are Steel Oversupply Concerns Unfounded?
Investors need to pay close attention to Cleveland-Cliffs (CLF) stock based on the movements in the options market lately.
Cleveland-Cliffs Inc. today said it will be announcing fourth-quarter and full-year 2018 financial results before the U.S.-market open on Friday, February 8, 2019.
Why US Steel Companies Want Trump’s Wall and Bridges ## US steel companies President Trump is scheduled to deliver a speech tonight about the Mexican border wall. President Trump tweeted that the Mexican border wall could be a “Steel Barrier rather than concrete.” According to Platts, citing the American Iron and Steel Institute, the steel barrier could require ~3 million short tons of steel. We should remember that the figure represents close to 3% of the annual US steel demand. ## Price action US steel companies have looked strong in 2019. Steel stocks had a dismal 2018 despite companies like Nucor (NUE) posting record earnings. Other US steel companies like U.S. Steel Corporation (X) and AK Steel (AKS) benefited from higher steel prices in 2018. Cleveland-Cliffs (CLF), which supplies iron ore to US steel companies, also benefits from strong steel prices (DIA). US steel stocks rose after President Trump’s election in 2016. He vowed to protect US manufacturing from the onslaught of imports. President Trump talked about massive infrastructure investments during his campaign. From steel companies’ perspective, President Trump has already imposed tariffs on imported steel. However, infrastructure investments haven’t materialized. ## Steel demand US steel companies crave President Trump’s wall and bridges to boost US steel demand. The housing and automotive sectors are both leading steel end users. The sectors have shown signs of moderating growth. Steel prices have also been weak globally. US steel companies might require President Trump’s support in the form of tariffs and infrastructure investments. While the tariffs are already in place, markets fear that they might get watered down as the Trump Administration signs new trade deals. Steel stocks might surprise on the upside in 2019. Read Why Metals and Mining Stocks Have Been a Falling Knife for a closer look at steel’s 2019 outlook.
Cleveland-Cliffs could be a stock to avoid from a technical perspective, as the firm is seeing unfavorable trends on the moving average crossover front.
Are US Steel Companies Preparing Themselves for Trump’s Wall? ## US steel companies Today, Nucor (NUE), the largest US-based steel producer, announced a $1.4 billion investment to construct a new steel plate mill in the US Midwest. Yesterday, President Donald Trump tweeted that the Mexican border wall could be a “Steel Barrier rather than concrete.” The president has highlighted the investments made by steel companies at various forums. He also congratulated Steel Dynamics when the company announced a massive steel plant in November, and he visited U.S. Steel Corporation’s (X) Granite City facility last year after the company announced the restarting of a blast furnace it had idled in 2015. ## Bullish US steel companies (SPY) have been quite bullish in their outlooks. Trump’s Section 232 tariffs have helped lift US steel prices. Although US steel prices fell sharply in the second half of 2018, tracking global weakness, the spreads between US and international prices are still quite tempting. As US steel companies’ earnings and cash flows have improved, they’ve been looking at ways to allocate capital. Companies (AKS) such as Cleveland-Cliffs (CLF) have announced buybacks. If President Trump manages to get his way on his proposed steel barrier on Mexico’s border, it will support US steel demand. Furthermore, if the president goes ahead with his infrastructure plans, it could provide another boost to US steel companies. Both Nucor and Steel Dynamics are investing significantly in new capacity. US steel stocks are looking strong so far this year after a dismal 2018. Read Why Metals and Mining Stocks Have Been a Falling Knife for a closer look at steel’s 2019 outlook.
The company has made incredible strides in the past several years, but its stock doesn't seem to reflect these changes.
Steel Stocks Outperform Markets: Is the Herald on the Horizon?Steel stocks US steel stocks are in the green today. AK Steel (AKS) is leading steel names with gains of 5.6% as of 12:30 PM ET. U.S. Steel Corporation (X) has gained 1.
Among the three major seaborne iron ore miners we’re discussing in this series, Vale (VALE) stock has the highest percentage of “buy” ratings from 78% of the analysts covering it. At the end of April, 56.0% of analysts had “buy” ratings on the stock. Approximately 18.0% of analysts have given it “holds,” and 4.0% have given it “sells.” Vale’s target price suggests a potential 32% upside based on its current market price.
Of the 16 analysts covering Rio Tinto (RIO) stock, 62.0% have given it “buys,” 25.0% have given it “holds,” and 13.0% have given it “sells.” Its ratings have remained more or less the same for the last few months. Of the analysts covering BHP Billiton (BHP) and Vale (VALE) stocks, 39.0% and 78.0% have given them “buys,” respectively. Cleveland-Cliffs (CLF), which is mainly exposed to the US domestic market, has “buy” recommendations from 64.0% of the analysts covering its stock. Analysts generally expect its premium to come down compared to those of its peers due to the lack of any significant catalysts.
US steel stocks (VTI) are having a terrible year. U.S. Steel Corporation (X), AK Steel (AKS), and Nucor (NUE) are trading at or near 52-week lows. In this article, we’ll explore whether 2019 could be any better for steel and iron ore names (CLF).
During his election campaign, Trump made several references to the US steel industry and vowed to protect US steel jobs, which are under threat due to higher imports. Also, Trump was expected to protect steel companies from the onslaught of steel imports. US steel stocks U.S. Steel Corporation (X), AK Steel (AKS), and Nucor (NUE) saw upward price action in 2016 as investors turned bullish on the sector.
According to the data compiled by Thomson Reuters, 18 analysts are covering BHP Billiton (BHP) stock. Of these analysts, only 39.0% have given the stock “buys,” 56.0% have given it “holds,” and 5.0% have given it “sells.”
The Section 232 tariffs lifted US steel prices to multi-year highs, and benchmark HRC (hot rolled coil) prices rose to their highest level since 2008. Plus, since there wasn’t a similar surge in steelmaking raw material prices, US steel companies’ margins expanded.
Stock markets have seen a selling spree this month. From China’s soft economic data to the Federal Reserve’s hawkish stance, risks aplenty have troubled the markets. Meanwhile, as markets have come under pressure, metal and mining stocks have been among the worst performers.
Why Now Might Be a Good Time to Look Again at Cleveland Cliffs(Continued from Prior Part)Analyst sentiment Cleveland-Cliffs (CLF) stock has seen a turn in fortunes, as far as analyst sentiment is concerned, since March.