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Bailard Inc. Makes New $268,000 Investment in Cleveland-Cliffs Inc. (NYSE:CLF)
Posted by admin on Jul 12th, 2022
?Bailard Inc. bought a new position in Cleveland-Cliffs Inc. (NYSE:CLF – Get Rating) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 8,312 shares of the mining company’s stock, valued at approximately $268,000.
A number of other hedge funds also recently modified their holdings of the business. Commerce Bank grew its stake in Cleveland-Cliffs by 2.7% in the 4th quarter. Commerce Bank now owns 21,728 shares of the mining company’s stock worth $473,000 after acquiring an additional 567 shares in the last quarter. M&T Bank Corp boosted its stake in shares of Cleveland-Cliffs by 4.4% during the fourth quarter. M&T Bank Corp now owns 14,075 shares of the mining company’s stock valued at $306,000 after purchasing an additional 599 shares in the last quarter. Allworth Financial LP boosted its stake in shares of Cleveland-Cliffs by 199.7% during the first quarter. Allworth Financial LP now owns 917 shares of the mining company’s stock valued at $30,000 after purchasing an additional 611 shares in the last quarter. Clear Perspective Advisors LLC boosted its stake in shares of Cleveland-Cliffs by 4.0% during the fourth quarter. Clear Perspective Advisors LLC now owns 17,483 shares of the mining company’s stock valued at $381,000 after purchasing an additional 673 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in shares of Cleveland-Cliffs by 48.2% during the fourth quarter. Quadrant Capital Group LLC now owns 2,078 shares of the mining company’s stock valued at $45,000 after purchasing an additional 676 shares in the last quarter. Institutional investors and hedge funds own 56.68% of the company’s stock.
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A number of equities analysts have recently issued reports on CLF shares. Clarkson Capital reiterated a “buy” rating on shares of Cleveland-Cliffs in a research note on Tuesday, June 14th. The Goldman Sachs Group dropped their price objective on shares of Cleveland-Cliffs from $36.00 to $27.00 and set a “buy” rating on the stock in a research note on Tuesday, May 31st. JPMorgan Chase & Co. dropped their price objective on shares of Cleveland-Cliffs from $43.00 to $37.00 in a research note on Tuesday, June 14th. Credit Suisse Group increased their target price on shares of Cleveland-Cliffs from $34.00 to $37.00 in a research report on Tuesday, April 19th. Finally, Morgan Stanley decreased their target price on shares of Cleveland-Cliffs from $24.00 to $16.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 6th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $29.83.
In other Cleveland-Cliffs news, Director Douglas C. Taylor sold 28,150 shares of the firm’s stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $23.12, for a total value of $650,828.00. Following the completion of the transaction, the director now owns 156,974 shares of the company’s stock, valued at $3,629,238.88. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Keith Koci purchased 4,500 shares of the firm’s stock in a transaction on Tuesday, April 26th. The stock was bought at an average cost of $27.14 per share, with a total value of $122,130.00. Following the acquisition, the executive vice president now owns 290,135 shares of the company’s stock, valued at approximately $7,874,263.90. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 13,100 shares of company stock valued at $330,358. Corporate insiders own 1.43% of the company’s stock.
NYSE CLF opened at $15.10 on Tuesday. The company has a fifty day simple moving average of $20.11 and a two-hundred day simple moving average of $22.88. The stock has a market cap of $7.92 billion, a P/E ratio of 2.20 and a beta of 2.28. Cleveland-Cliffs Inc. has a 12-month low of $14.68 and a 12-month high of $34.04. The company has a current ratio of 2.28, a quick ratio of 0.80 and a debt-to-equity ratio of 0.76.
Cleveland-Cliffs (NYSE:CLF – Get Rating) last posted its quarterly earnings results on Friday, April 22nd. The mining company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.27. The business had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $5.43 billion. Cleveland-Cliffs had a net margin of 16.77% and a return on equity of 78.74%. The business’s quarterly revenue was up 47.1% on a year-over-year basis. During the same quarter last year, the company posted $0.35 earnings per share. As a group, sell-side analysts forecast that Cleveland-Cliffs Inc. will post 5.09 earnings per share for the current year.
Cleveland-Cliffs Company Profile (Get Rating)
Cleveland-Cliffs is the largest flat-rolled steel company and the largest iron ore pellet producer in North America. The company is vertically integrated from mining through iron making, steelmaking, rolling, finishing and downstream with hot and cold stamping of steel parts and components. The company was formerly known as Cliffs Natural Resources Inc and changed its name to Cleveland-Cliffs Inc in August 2017.
Cleveland-Cliffs to Announce Second-Quarter 2022 Results on July 22
Source: Business Wire
Cleveland-Cliffs Inc. (NYSE: CLF) will announce its second-quarter 2022 earnings results before the U.S. market open on Friday, July 22, 2022.
The Company invites interested parties to listen to a live broadcast of a conference call with securities analysts and institutional investors to discuss the results on July 22, 2022, at 10:00 am ET. The call can be accessed at www.clevelandcliffs.com and will also be archived and available for replay at that address.
About Cleveland-Cliffs Inc.
Cleveland-Cliffs is the largest flat-rolled steel producer in North America. Founded in 1847 as a mine operator, Cleveland-Cliffs also is the largest manufacturer of iron ore pellets in North America. The Company is vertically integrated from mined raw materials, direct reduced iron, and ferrous scrap to primary steelmaking and downstream finishing, stamping, tooling, and tubing. We are the largest supplier of steel to the automotive industry in North America and serve a diverse range of other markets due to our comprehensive offering of flat-rolled steel products. Headquartered in Cleveland, Ohio, Cleveland-Cliffs employs approximately 26,000 people across its operations in the United States and Canada.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20220706005750/en/
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Cleveland-Cliffs: A Recession And A Buying Opportunity
Jul. 04, 2022 9:36 AM ETCleveland-Cliffs Inc. (CLF)43 Comments30 Likes
Leo Nelissen
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Summary
Cleveland-Cliffs is down 50% from its 52-week highs as a result of recession risks and investors who are de-risking their portfolios.
The company has gone through an impressive transition allowing it to benefit from secular tailwinds and higher-margin steel markets.
Thanks to the sell-off, CLF is trading at attractive prices, allowing investors to start buying some exposure for long-term investments.
Introduction
I've covered Cleveland-Cliffs (NYSE:CLF) frequently prior to the pandemic, when I followed the company's transition from a diversified commodity play to a US-focused producer of iron ore. Then, after the pandemic, the company expanded its business, becoming North America's largest flat-rolled steel producer. I haven't covered the stock publicly since late 2019 as I've been working a lot on the stock with (larger) private clients. I wanted to avoid a conflict of interest. Now, the coast is clear. Investors and traders have abandoned CLF to some extent, sending shares down 50% from recent highs. We're at a tricky point in the cycle as high long-term expectations meet midterm recession fears. It's bad news for impatient traders, but good news for investors looking to buy quality "value" exposure.
This article was written by
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Leo Nelissen
15.79K Followers
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I'm a macro expert for Intelligence Quarterly. I discuss a wide range of topics including long-term dividend (growth) investments, mid-term trading opportunities, commodities, rates, and related. My DMs are always open. Also, I'm on Twitter (@Growth_Value_) where I share charts and thoughts on topics I discuss on Seeking Alpha and on Intelligence Quarterly. Long-Term Dividend HoldingsPSA, DUK, HD, PEP, RTX, UNP, VLO, DE, ABBV, CAT, HBAN, NSC, LHX, XOM, HII, AAPL, XEL, CVX, CP, LMT, NOC, NDAQ, CME, CSX, DHR
Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Additional disclosure: This article serves the sole purpose of adding value to the research process. Always take care of your own risk management and asset allocation.
Load up boys. By shorts.
CNBC's Final Trades: Cleveland-Cliffs, McKesson And These Defensive Plays
byPriya Nigam
July 1, 2022 10:33 AM | 1 min read
On CNBC’s “Halftime Report Final Trades,” Jon Najarian said that Cleveland-Cliffs Inc’s (NYSE:CLF) stock had declined more than 30% in a month. “I like it. I bought the stock,” Najarian stated. “They’re buying upside calls in the 18 strike,” he added.
Jason Snipe of Odyssey Capital Advisors said he liked pharmaceutical distributer McKesson Corporation (NYSE:MCK). The company has 9.6% free cash flow yield and a little over 10% long-term growth rates, Snipe mentioned. “It’s done well this year but I think there’s some runway still to go here,” he added.
Check out other stocks making big moves in the premarket.
Bryn Talkington of Requisite Capital Management chose JPMorgan Equity Premium Income ETF (NYSE:JEPI) as her final trade. “They own about 100 S&P names, each about 2% holdings, they are overweight energy,” Talkington said. “Between the dividends and selling the call premiums, you’re earnings about a 10% or 11% yield, while you have a defensive strategy,” she added.
Joshua Brown of Ritholtz Wealth Management chose SPDR Nuveen Bloomberg Short Term Mun Bond ETF (NYSE:SHM).
[Suppressed Image]
Here come the shorts.
Cleveland-Cliffs Whale Trades For June 30
byBenzinga Insights
June 30, 2022 5:35 PM | 2 min read
A whale with a lot of money to spend has taken a noticeably bearish stance on Cleveland-Cliffs.
Looking at options history for Cleveland-Cliffs (NYSE:CLF) we detected 36 strange trades.
If we consider the specifics of each trade, it is accurate to state that 41% of the investors opened trades with bullish expectations and 58% with bearish.
From the overall spotted trades, 17 are puts, for a total amount of $1,240,007 and 19, calls, for a total amount of $1,861,218.
What's The Price Target?
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Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $10.0 to $37.0 for Cleveland-Cliffs over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Cleveland-Cliffs's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Cleveland-Cliffs's whale activity within a strike price range from $10.0 to $37.0 in the last 30 days.
Cleveland-Cliffs Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
SymbolPUT/CALLTrade TypeSentimentExp. DateStrike PriceTotal Trade PriceOpen InterestVolumeCLFCALLSWEEPBULLISH08/19/22$18.00$604.6K3.5K10.0KCLFCALLSWEEPBULLISH01/20/23$19.00$392.4K7032.2KCLFCALLTRADEBEARISH08/19/22$21.00$250.0K11.0K10.2KCLFPUTSWEEPBULLISH10/21/22$37.00$248.6K1920CLFPUTTRADEBEARISH10/21/22$35.00$116.2K27258
Where Is Cleveland-Cliffs Standing Right Now?
With a volume of 25,941,282, the price of CLF is down -1.79% at $15.37.
RSI indicators hint that the underlying stock may be oversold.
Next earnings are expected to be released in 21 days.
What The Experts Say On Cleveland-Cliffs:
JP Morgan has decided to maintain their Overweight rating on Cleveland-Cliffs, which currently sits at a price target of $37.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Cleveland-Cliffs, Benzinga Pro gives you real-time options trades alerts.
Posted In: BZI-UOAOptionsMarkets
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Old but good onfo.
30% OFF | Cleveland-Cliffs is Set to Deliver Strongly
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Alberto AbaterussoMay 10, 2022, 10:58 AM
Although Cleveland-Cliffs (CLF) is down more than 25% from its all-time high, the stock represents a great investment opportunity as its growth potential is likely to result in a significant price gain.
It is important not to panic about the temporary bear market and instead remain calm and reasonable. I am bullish on the stock.
About Cleveland-Cliffs
Cleveland-Cliffs is the largest producer of flat-rolled steel and iron ore pellets in North America. The company also produces the raw materials it needs. It is engaged in mining, applying specific ferrous metallurgy techniques, in addition to recycling scrap and metallurgical waste.
The company serves multiple industries in North America, including automotive and manufacturing, while providing a reference point for infrastructure builders.
The company is headquartered in Cleveland, Ohio, and employs approximately 26,000 people in its North American operations.
Current Headwinds
Should the Cleveland-Cliffs share price drop another 25%, which is possible given current global macroeconomic conditions, it would be reasonable to increase the number of shares.
Given the excellent prospects for demand and steel prices, the expected upside for Cleveland Cliffs stock should be strong, and likely to occur after the current negative momentum.
What Drives the Stock Price Down?
Currently, two factors are weighing on Cleveland Cliffs stock.
One is less impactful but will continue for many weeks to come, the other does a lot more to explain the current fall in steel stocks, but it will end much sooner than those feeding the bearish sentiment expect.
The first reason is the war in Ukraine. Strong concerns about the regular shipment of Russian fossil fuels to Europe are driving up the price of these two commodities dramatically.
The stock market seems to have a unique interest in the additional profits of these oil and gas producers, while fiscal threats from the G7 countries are not enough to discourage high traders’ speculative tendencies.
The downward pressure on the share price will continue as long as there is tension in Eastern Europe, but of the two factors mentioned, this should worry Cleveland Cliffs shares the least.
Fossil fuel prices were already rising before the war began, raising concerns about the potential impact of production costs on profits, but the stock still performed well. Thus, the headwinds from fears for oil and gas supply explain the current price decline to a lesser extent than the following factor.
Steelmakers are pulling back after imposing lockdowns and other containment measures in China’s megacities, and other smaller urban areas to contain the spread of another wave of COVID-19 infections.
With China’s zero-tolerance program against COVID-19 affecting the activities of ports and major trading hubs in the world’s second-largest economy, there are currently concerns over the regular supply of iron commodities.
With China being the world’s third-largest iron producer (340 million tons mined in 2020), analysts are in principle right about the deteriorating growth outlook for the steel sector.
Expectations now point to potential supply chain issues, an increase in the volume of outstanding orders, and essentially a slowdown in metallurgy manufacturing activity.
Chinese Signs of Recovery
The headwinds from China should improve soon for the following reasons.
It seems that the government has already started lifting restrictions in urban areas. Significantly, in Shanghai, 70% of the top 1,800 companies have resumed operations and production amid the city’s new wave of COVID-19.
In addition, China’s industrial and supply chains are showing resilience despite the short-lived impact of the government’s epidemic containment measures, said He Hui, assistant to the president of the China Federation of Logistics and Purchasing (CFLP) last week.
Plus, with nearly 90% of China’s total population completing the vaccination cycle (according to the latest data from the National Health Commission), the resumption of economic activity and the return to normal should progress very rapidly.
Not to mention that the government continues to provide financial support to both families and businesses operating in the sectors hardest hit by the new wave of infection. This policy should protect against the risk of a worrying economic slowdown.
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Upside Catalysts
The situation in China sets the stage for a sharp rise in the price of ready-to-process iron ore as the Chinese government decouples urban life and economic activity from coronavirus containment measures.
While most of its competitors face higher production costs, Cleveland Cliffs won’t because the company can mine iron ore from its own deposits in Minnesota and Michigan, with notable savings in rolled steel and iron microsphere production.
Additionally, pent-up demand for steel products could drive anomalous sales in the second half of 2022, which would be incredibly beneficial for Cleveland Cliffs.
Cleveland Cliffs would also benefit from a likely increase in U.S. spending on public infrastructure, implying a rising demand for iron and steel products.
Runaway inflation, rapid and repeated rises in interest rates, and the steady appreciation of the U.S. dollar against local currencies and especially against the Japanese yen are weighing on private spending, investment, and the U.S. trade balance.
The road to higher public spending on infrastructure to revive domestic economic growth is practically paved.
Looking ahead to full-year 2022, Cliffs has higher average selling price expectations of $1,445 per net tonne versus the previous guidance of $1,225 per net tonne. This is due to better-than-expected conditions on certain fixed-price contracts and higher prices of products.
Strong Balance Sheet
The company’s growth plans are backed by a good balance sheet.
Although total debt of $5.03 billion versus just $35 million in cash suggests the financial position is heavily leveraged, shareholders should not be concerned.
Nor are higher borrowing costs due to a tightening of monetary policy by the U.S. Federal Reserve to combat elevated inflation, as the interest coverage ratio of 14.21 suggests Cleveland-Cliffs can easily bear the financial burden of paying interest costs on time.
Ideally, this ratio should be at least 1.5.
Profitability and Production Targets
The company holds highly profitable operations, much higher than most peers as indicated by a 12-month EBITDA Margin of 28% versus 21.2%.
This is a very powerful ratio for measuring the profitability of Cleveland Cliffs and other capital-intensive business operators.
Should the catalysts outlined above work on this profitability basis, they can only result in a higher profit margin with unusually strong upside potential.
Wall Street’s Take
In the past three months, seven Wall Street analysts have issued a 12-month price target for CLF. The company has a Moderate Buy consensus rating based on five Buys, two Holds, and zero Sell ratings.
The average Cleveland-Cliffs price target is $35.14, implying 61.6% upside potential.
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Valuation
Cleveland-Cliffs has a market cap of $11.8 billion, P/E ratio of 3.5, and a 52-week range of $15.81 to $34.04.
The stock has a price-book ratio of 2.5, a price/sales ratio of 0.6, price/cash flow ratio of 3.6, and a price/free-cash-flow ratio of 5.8.
Conclusion
Bearish sentiment has weighed on this stock’s performance, and may continue to do so in the coming days.
However, there are enough headwinds on the way that should lift the stock over the long term.
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Shorts are gonna try to hammer this down to $10. IMO
IBM Retirement Fund Makes New Investment in Cleveland-Cliffs Inc. (NYSE:CLF)
Posted by admin on Jun 29th, 2022
?IBM Retirement Fund purchased a new position in Cleveland-Cliffs Inc. (NYSE:CLF – Get Rating) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 7,605 shares of the mining company’s stock, valued at approximately $245,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. State Street Corp raised its position in Cleveland-Cliffs by 3.8% in the fourth quarter. State Street Corp now owns 15,270,791 shares of the mining company’s stock worth $332,445,000 after acquiring an additional 554,642 shares during the period. Geode Capital Management LLC raised its position in Cleveland-Cliffs by 7.0% in the fourth quarter. Geode Capital Management LLC now owns 5,954,145 shares of the mining company’s stock worth $129,621,000 after acquiring an additional 387,659 shares during the period. Dimensional Fund Advisors LP raised its position in Cleveland-Cliffs by 59.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,171,842 shares of the mining company’s stock worth $69,040,000 after acquiring an additional 1,178,447 shares during the period. Marshall Wace LLP raised its position in Cleveland-Cliffs by 664.5% in the fourth quarter. Marshall Wace LLP now owns 2,766,650 shares of the mining company’s stock worth $60,228,000 after acquiring an additional 2,404,776 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Cleveland-Cliffs by 20.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,394,167 shares of the mining company’s stock worth $52,121,000 after acquiring an additional 401,677 shares during the period. Institutional investors and hedge funds own 56.68% of the company’s stock.
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In other Cleveland-Cliffs news, Director Douglas C. Taylor sold 28,150 shares of Cleveland-Cliffs stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $23.12, for a total value of $650,828.00. Following the completion of the transaction, the director now directly owns 156,974 shares of the company’s stock, valued at approximately $3,629,238.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Celso L. Goncalves, Jr. purchased 4,000 shares of the company’s stock in a transaction that occurred on Friday, April 29th. The shares were purchased at an average cost of $26.32 per share, with a total value of $105,280.00. Following the completion of the purchase, the chief financial officer now owns 143,285 shares in the company, valued at approximately $3,771,261.20. The disclosure for this purchase can be found here. Insiders acquired a total of 13,100 shares of company stock valued at $330,358 over the last three months. Corporate insiders own 1.43% of the company’s stock.
Shares of NYSE CLF opened at $15.90 on Wednesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 2.28. The company has a market cap of $8.34 billion, a P/E ratio of 2.32 and a beta of 2.17. The firm’s fifty day moving average is $22.32 and its two-hundred day moving average is $23.16. Cleveland-Cliffs Inc. has a 52-week low of $15.31 and a 52-week high of $34.04.
Cleveland-Cliffs (NYSE:CLF – Get Rating) last announced its quarterly earnings results on Friday, April 22nd. The mining company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.27. Cleveland-Cliffs had a net margin of 16.77% and a return on equity of 78.74%. The company had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same period in the previous year, the firm posted $0.35 EPS. Cleveland-Cliffs’s revenue for the quarter was up 47.1% compared to the same quarter last year. As a group, analysts forecast that Cleveland-Cliffs Inc. will post 5.46 EPS for the current fiscal year.
Several brokerages have recently commented on CLF. B. Riley raised their price objective on shares of Cleveland-Cliffs from $46.00 to $47.00 and gave the company a “buy” rating in a research report on Monday, April 25th. Credit Suisse Group raised their price objective on shares of Cleveland-Cliffs from $34.00 to $37.00 in a research report on Tuesday, April 19th. The Goldman Sachs Group decreased their price objective on shares of Cleveland-Cliffs from $36.00 to $27.00 and set a “buy” rating on the stock in a research report on Tuesday, May 31st. Clarkson Capital restated a “buy” rating on shares of Cleveland-Cliffs in a research report on Tuesday, June 14th. Finally, TheStreet downgraded shares of Cleveland-Cliffs from a “b-” rating to a “c+” rating in a research report on Tuesday, March 1st. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.50.
Cleveland-Cliffs Company Profile (Get Rating)
Cleveland-Cliffs is the largest flat-rolled steel company and the largest iron ore pellet producer in North America. The company is vertically integrated from mining through iron making, steelmaking, rolling, finishing and downstream with hot and cold stamping of steel parts and components. The company was formerly known as Cliffs Natural Resources Inc and changed its name to Cleveland-Cliffs Inc in August 2017.
Cleveland-Cliffs' recent earnings were strong, and even if steel has moderated, earnings will remain strong
https://seekingalpha.com/article/4520678-cleveland-cliffs-stock-it-hurts
I agree. Back to $30 plus soon.
Carnegie Capital Asset Management LLC Raises Stock Position in Cleveland-Cliffs Inc. (NYSE:CLF)
Posted by admin on Jun 23rd, 2022
?Carnegie Capital Asset Management LLC grew its holdings in Cleveland-Cliffs Inc. (NYSE:CLF – Get Rating) by 9.5% during the first quarter, HoldingsChannel.com reports. The fund owned 84,934 shares of the mining company’s stock after purchasing an additional 7,401 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Cleveland-Cliffs were worth $2,736,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of CLF. Marshall Wace LLP raised its stake in shares of Cleveland-Cliffs by 664.5% in the 4th quarter. Marshall Wace LLP now owns 2,766,650 shares of the mining company’s stock valued at $60,228,000 after acquiring an additional 2,404,776 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Cleveland-Cliffs by 59.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,171,842 shares of the mining company’s stock valued at $69,040,000 after acquiring an additional 1,178,447 shares during the period. THRC Management LLC purchased a new position in shares of Cleveland-Cliffs in the 4th quarter valued at $13,062,000. State Street Corp raised its stake in shares of Cleveland-Cliffs by 3.8% in the 4th quarter. State Street Corp now owns 15,270,791 shares of the mining company’s stock valued at $332,445,000 after acquiring an additional 554,642 shares during the period. Finally, First Trust Advisors LP increased its stake in Cleveland-Cliffs by 89.0% during the 4th quarter. First Trust Advisors LP now owns 1,086,291 shares of the mining company’s stock worth $23,649,000 after buying an additional 511,488 shares during the period. 56.68% of the stock is currently owned by institutional investors and hedge funds.
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In other Cleveland-Cliffs news, Director Douglas C. Taylor sold 28,150 shares of the business’s stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $23.12, for a total transaction of $650,828.00. Following the completion of the transaction, the director now directly owns 156,974 shares of the company’s stock, valued at approximately $3,629,238.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Keith Koci bought 4,500 shares of Cleveland-Cliffs stock in a transaction on Tuesday, April 26th. The shares were purchased at an average cost of $27.14 per share, with a total value of $122,130.00. Following the completion of the purchase, the executive vice president now directly owns 290,135 shares in the company, valued at $7,874,263.90. The disclosure for this purchase can be found here. Insiders bought a total of 13,100 shares of company stock valued at $330,358 over the last ninety days. Company insiders own 1.43% of the company’s stock.
Several equities research analysts recently issued reports on CLF shares. B. Riley lifted their price target on shares of Cleveland-Cliffs from $46.00 to $47.00 and gave the stock a “buy” rating in a research note on Monday, April 25th. TheStreet downgraded shares of Cleveland-Cliffs from a “b-” rating to a “c+” rating in a research note on Tuesday, March 1st. Clarkson Capital reaffirmed a “buy” rating on shares of Cleveland-Cliffs in a research note on Tuesday, June 14th. StockNews.com started coverage on shares of Cleveland-Cliffs in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Finally, JPMorgan Chase & Co. dropped their price target on shares of Cleveland-Cliffs from $43.00 to $37.00 in a research note on Tuesday, June 14th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.50.
CLF opened at $16.27 on Thursday. The company has a 50-day moving average of $23.50 and a 200-day moving average of $23.27. The company has a market capitalization of $8.54 billion, a P/E ratio of 2.38 and a beta of 2.17. Cleveland-Cliffs Inc. has a 1-year low of $15.81 and a 1-year high of $34.04. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 2.28.
Cleveland-Cliffs (NYSE:CLF – Get Rating) last released its earnings results on Friday, April 22nd. The mining company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.27. Cleveland-Cliffs had a net margin of 16.77% and a return on equity of 78.74%. The company had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter in the previous year, the firm earned $0.35 EPS. The company’s revenue was up 47.1% on a year-over-year basis. As a group, sell-side analysts expect that Cleveland-Cliffs Inc. will post 5.46 earnings per share for the current fiscal year.
Cleveland-Cliffs Company Profile (Get Rating)
Cleveland-Cliffs is the largest flat-rolled steel company and the largest iron ore pellet producer in North America. The company is vertically integrated from mining through iron making, steelmaking, rolling, finishing and downstream with hot and cold stamping of steel parts and components. The company was formerly known as Cliffs Natural Resources Inc and changed its name to Cleveland-Cliffs Inc in August 2017.
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Cleveland-Cliffs Inc.
An Award-Winning Year
In 2021, Cleveland-Cliffs received several prestigious industry awards.
Annual S&P Global Platts Global Metals Awards
The Global Metals Award program recognizes exemplary performance in the metals and mining industry. Cleveland-Cliffs took top honors in three categories.
The Deal of the Year Award
Recognizing the significance and success of the Company’s 2020 acquisitions.
Metals Company of the Year
Selecting a company for all-around excellence in executing a total metals strategy.
CEO/Chairperson of the Year
Honoring a leader who is highly respected by both peers and competitors, admired and followed by employees, trusted by investors and welcomed by the community. Mr. Goncalves was recognized for his leadership and taking decisive action and adapting to market shifts by balancing long-term growth with short-term challenges.
General Motors Supplier of the Year
GM recognized the best and distinguished global suppliers with the highest quality and innovation in the automotive industry. This is the fourth consecutive year Cleveland-Cliffs/AK Steel has received this award.
Association for Iron & Steel Technology (AIST) Steelmaker of the Year
The Steelmaker of the Year award recognizes prominent leaders and their contribution to the steel industry. Mr. Goncalves was honored for his distinguished career, strong leadership, passion and outstanding contributions to the global mining and steel industries for more than 30 years.
Fastmarkets Global Awards for Steel Excellence - Advocate of the Year
The Steel Excellence awards honor truly exceptional and the “best of the best” steel industry thought leaders and organizations.
Mr. Goncalves was named Advocate of the Year for his longtime leadership within the steel industry and transformation of Cliffs into a leading steel company.
Fastmarkets Global Awards for Steel Excellence - Scrap Company of the Year
The Steel Excellence awards honor truly exceptional and the “best of the best” steel industry thought leaders and organizations.
Ferrous Processing and Trading Co. was recognized by steel producers, service centers, scrap companies, pipe and tube producers and suppliers of materials and services in the steel industry.
Association of Steel Distributors (ASD) Steel Executive of the Year
This award, received by Mr. Goncalves, recognizes distinguished individuals who have made lasting contributions to the steel distribution industry over a significant period of time.
Cleveland-Cliffs Inc.
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Cliffs CEO Lourenco Goncalves Interviewed by Fortune CEO Alan Murray
Rumble Proposes an Open-Source Content Moderation Policy & Process to Improve Transparency & Put Creators First
Source: PR Newswire (US)
First phase of a content creator-designed moderation process will help the video sharing platform stay true to its mission as it continues to grow; changes will be incorporated into terms of use after feedback from creators and users.
LONGBOAT KEY, Fla. , June 17, 2022 /PRNewswire/ -- Today, the video streaming platform Rumble announced the first phase of an updated content moderation process designed by creators and anchored in transparency. The proposed moderation policies were designed by leading Rumble and Locals creators Robert Barnes and David Freiheit, both of whom are also accomplished attorneys. Under the proposed policies, content creators will be able to express themselves to interested audiences within the limits of the law and without harassment while ensuring a consistent and transparent process as the platform continues its rapid growth. Rumble welcomes feedback on the proposed policies from the platform's creators and users, which it will consider before implementing the new policies as part of the platform's terms of use later this year.
"Despite the mainstream pressure, we have stayed true to our original content moderation philosophy since Rumble was founded in 2013," said CEO Chris Pavlovski. "Our mission is to protect a free and open internet, and we will never 'move the goal posts' on our community unless required by law. We're putting creators and users first by asking their views on the policies before we implement them. It's a philosophy that we feel is incredibly important for our society and one that has progressively differentiated our company from big tech platforms that continue to embrace 'cancel culture'."
"Unlike other tech platforms, Rumble's proposal will provide a free space for open discourse without politicized discrimination in the digital public square, while simultaneously protecting users from harassing behavior," said Robert Barnes, founder of Barnes Law LLP and the creator of the "Barnes Law" video channel on Rumble.
"We seek clear, transparent rules and non-discriminatory enforcement without political or partisan bias." said David Freiheit, founder of Freiheit Legal and the creator of the "Viva Frei" video channel on Rumble. "By starting with input from creators, these new content policies will help Rumble hold true to its mission of neutrality and ensure transparency for creators and users alike."
Today, the first phase of the new content moderation process, Rumble released a new set of proposed content policies and removal and appeals process. [See the proposed "Rumble Rules" and removal and appeals process here and provide feedback to rumblerules@rumble.com].
In the next phase, Rumble will seek feedback from its creators and users on the policies and establish a new appeals process that will be adjudicated by a community of Rumble creators. To ensure transparency, Rumble will ensure that all appeal decisions are made readily available to the public. The full implementation of this process, including the incorporation of the new content policies and the appeals process in the platform's terms of use, is expected to be completed by the end of the year.
Rumble is a high-growth neutral video platform that is creating the rails and independent infrastructure designed to be immune to cancel culture. Rumble's mission is to restore the Internet to its roots by making it free and open once again. Additionally, the company announced in December 2021 the execution of a definitive business combination agreement with CF Acquisition Corp. VI (NASDAQ: CFVI). See the announcement here: https://corp.rumble.com
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SOURCE Rumble
You know it's getting back to $30 plus.
https://www.marketbeat.com/instant-alerts/nyse-clf-consensus-analyst-rating-2022-06-2/
Cleveland-Cliffs Inc. – Consensus Indicates Potential 66.8% Upside
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Charlotte Edwards
June 14, 2022
12:25 pm
Cleveland-Cliffs Inc. found using ticker (CLF) have now 8 analysts covering the stock with the consensus suggesting a rating of ‘Buy’. The target price ranges between 47 and 24 and has a mean target at 32.76. Given that the stocks previous close was at 19.64 this would imply there is a potential upside of 66.8%. There is a 50 day moving average of 25.96 while the 200 day moving average is 23.07. The market cap for the company is $9,519m. You can visit the company’s website by visiting: https://www.clevelandcliffs.com
The potential market cap would be $15,877m based on the market concensus.
Cleveland-Cliffs Inc. operates as a flat-rolled steel producer in North America. The company offers carbon steel products, such as hot-rolled, cold-rolled, electrogalvanized, hot-dip galvanized, hot-dip galvannealed, aluminized, enameling, and advanced high-strength steel products; stainless steel products; plates; and grain oriented and non-oriented electrical steel products. It also provides tubular components, including carbon steel, stainless steel, and electric resistance welded tubing. In addition, the company offers tinplate products, such as electrolytic tin coated and chrome coated sheet, and tin mill products; tooling and sampling; raw materials; ingots, rolled blooms, and cast blooms; and hot-briquetted iron products. Further, it owns five iron ore mines in Minnesota and Michigan. The company serves automotive, infrastructure and manufacturing, distributors and converters, and steel producers. Cleveland-Cliffs Inc. was formerly known as Cliffs Natural Resources Inc. and changed its name to Cleveland-Cliffs Inc. in August 2017. The company was founded in 1847 and is headquartered in Cleveland, Ohio.
7 High-Quality Large Cap Stocks to Buy at a Discount
These large-cap stocks offer tremendous upside potential and trade at a hefty discount
5h ago · By Muslim Farooque
Large cap stocks are great long-term investments and can be picked up cheap now.
Pfizer (PFE): M&A plus an impressive pipeline makes this stock worth another look.
Mastercard (MA): Recent results show a healthy expansion in cross-border and other segment sales.
Equinor (EQNR): Renewables portfolio lays the foundation for a massive growth runway ahead.
Meta Platforms (FB): Innovation continues to be the key to growth here.
Alibaba (BABA): Consumer services, cloud, and other non-core businesses point to a bright future ahead.
Cleveland Cliffs (CLF): Will benefit from having built an inflation-resistant business
Micron Technology (MU): Semi-conductor giant that continues to grow its addressable market
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Large cap stocks can provide some stability in a rocky market, and equity markets worldwide have taken a massive beating amidst multiple macro-economic headwinds.
Investors are rotating out of the more risky investments into safer bets. However, as investing legend, Warren Buffet put it, “the best chance to deploy capital is when things are going down”.
Today’s stock market’s position perfectly encapsulates his observations, and in following his advice, it would be prudent to invest in large-cap stocks at beaten-down valuations.
Large-cap stocks are some of the most established companies globally, with a history of outperformance. These companies have had an incredible track record of growing revenues, earnings, and cash flows at an astonishing pace.
Moreover, these companies have a penchant for consistently rewarding their shareholders over time. During the current bear run, several large cap stocks are trading cheaply and offer investors an attractive entry point to open up a position.
PFEPfizer$47.91MAMastercard$319.74EQNREquinor$34.02FBMeta Platforms$164.26BABAAlibaba$98.52CLFCleveland Cliffs$18.14MUMicron Technology$58.84
Pfizer (PFE)
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Pharma giant Pfizer (NYSE:PFE) made a truckload of money from its coronavirus vaccine, which helped post record operating results and landed it on this list of large cap stocks to buy.
Covid 19 will account for 32% of its revenues this year, a significant dip from the pandemic years.
Nevertheless, the healthcare giant has depth in its product pipeline and the financial flexibility to accelerate its merger and acquisitions (M&A) activity. It recently acquired biopharma play BioHaven and its famous migraine drug called Nurtec. With Pfizer’s lean balance sheet, I expect similar announcements in the coming months.
It recently posted its first-quarter results where revenues stood at $25.7 billion, and the enterprise could potentially surpass $100 billion in sales by 2022. Therefore, investors seem to be fretting a bit too much. Consequently, PFE stock trades at under three times forward sales, considerably lower than its five-average.
8 STOCKS TO OWN INSTEAD OF TESLA FOR THE EV BOOM
Mastercard (MA)
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Payments processing giant Mastercard (NYSE: MA) has been one of the most resilient companies over the past several years, with an impeccable record of top and bottom-line expansion.
Its shareholders have enjoyed 11 years of dividend growth, with a five-year growth rate of over 17%. Large cap stocks like this are always worth consideration.
During the first quarter, company revenues were up 24% on a year-over-year basis to $5.2 billion, while operating income increased by 34% from the prior-year period. As a result, its adjusted net income soared 55% to $2.7 billion.
The healthy boost in results came from cross-border transactions, which shot up 53%. Moreover, the payments giant also delivered solid gains from its intelligence, cyber security, and related divisions.
With the recent positive developments, analyst consensus estimates point to a 21% bump in its price target.
Equinor (EQNR)
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Equinor (NYSE:EQNR) is an oil and gas giant based in Norway, with one of the most diversified energy portfolios in the sector.
More than 65% of the company’s production comes from the Norwegian continental shelf, giving it a unique edge over its peers. Europe is desperately looking for energy security, and after declaring natural gas as “green energy,” large cap stocks like Equinor will benefit tremendously from these tailwinds.
More importantly, Equinor is investing heavily in its renewable portfolio to offset the risks associated with oil and gas prices. It generated 511GWh of energy from renewables during the first quarter, a 13% bump from last year’s first quarter.
Looking ahead, the firm expects a $1 trillion opportunity in the segment by 2040; however, the market continues to value it conservatively, ignoring the long-term prospects. EQNR trades at under one time forward sales, whereas its five-year average is close to seven times forward sales.
8 STOCKS TO OWN INSTEAD OF TESLA FOR THE EV BOOM
Meta Platforms (FB)
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Meta Platforms (NASDAQ:FB) is a social media juggernaut with some of the most powerful brands, including Facebook and Instagram, in its arsenal.
Despite its colossal scale, it has done amazingly well to innovate and adapt to the latest trends. Perhaps the biggest buzzword in the tech industry is the metaverse, which is a focal point in Meta’s future growth strategy.
However, its investors are skeptical of the push towards achieving metaverse supremacy, so FB stock trades at multi-year lows.
The social media giant’s Reality Labs segment is building the metaverse but has consistently burned a boatload of money. Last year alone, it spent $10 billion and another $2.9 billion in segment-wise loss during the first quarter of 2022.
Nevertheless, a bet on the metaverse is a bet on Meta’s ability to consistently prove the naysayers wrong. The sector’s potential is massive, with market estimates ranging from $800 billion to a whopping $30 trillion by the conclusion of the current decade.
Therefore, FB remains a fascinating long-term play among the large cap stocks to buy based the monstrous potential of the metaverse.
8 STOCKS TO OWN INSTEAD OF TESLA FOR THE EV BOOM
Alibaba (BABA)
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The market has crushed shares of online retail giant Alibaba (NYSE:BABA) amidst a myriad of challenges. As a result, BABA stock now trades roughly 60% lower than its 52-week high price of $230.89. Its fundamentals remain impressive, and new growth opportunities strengthen its long-term bull case.
It recently released its fourth-quarter results, where its revenues and earnings comfortably beat analyst expectations. Alibaba has 1.3 billion annual active customers across the globe and has made over $15 billion in free cash flows for the year.
It didn’t provide any forward guidance due to the current market uncertainties. However, its management expects a focus on generating robust and high-quality revenue growth with an optimized cost structure.
A glowing aspect of Alibaba’s reports was its local consumer services sector, including its last-mile delivery businesses, including Ele.me, Taoxianda, and Fliggy.
The segment grew 29% on a year-over-year basis during the fourth quarter, compared to 9% from the same period last year. Combine that with the strength of its Cloud and potentially lucrative subscription business, and things are looking up for BABA.
8 STOCKS TO OWN INSTEAD OF TESLA FOR THE EV BOOM
Cleveland Cliffs (CLF)
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Cleveland Cliffs (NYSE:CLF) has undergone a massive transformation over the past few years.
It has gone from being a supplier to the steel industry to one of the largest integrated steel mills in the North American region. It acquired one of the top customers at the time in AK Steel in 2019 and bought production assets of a leading US steel giant ArcelorMittal in 2020.
The new-look CLF didn’t stop there. Last year, it bought a leading scrap metal business, which gives it greater control over input costs.
The business transformation effectively shields it against inflationary effects on steel prices. The company is coming off its best year yet, with revenues and EBITDA growing over 147% and 739.40% on a year-over-year basis. CLF stock trades at just 0.5 times forward sales despite the stellar performance.
8 STOCKS TO OWN INSTEAD OF TESLA FOR THE EV BOOM
Micron Technology (MU)
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Semiconductor giant Micron Technology (NASDAQ:MU) has been one of the most profitable companies in its niche over the past several years.
Revenue and EBITDA growth has averaged 21% and 56% over the past five years. Moreover, it is exposed to multiple tailwinds in the sector, including autonomous driving, AR/VR, and other technologies.
Micron is a leader in providing memory chips used for computing and storage in a wide variety of applications, including data centers, PCs, and gaming consoles, among others.
It made $15.5 billion in sales during the first six months of fiscal 2022, a remarkable 29% improvement from the same period last year. Analysts feel the company to end the year generating over $30 billion in sales, representing over a 300% increase from its revenues in 2012.
On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Muslim Farooque is a keen investor and an optimist at heart. A life-long gamer and tech enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a bachelor’s of science degree in applied accounting from Oxford Brookes University.
8 STOCKS TO OWN INSTEAD OF TESLA FOR THE EV BOOM
Could This $20 Stock Be the Best EV Play of 2022?
You’re not going to want to buy a single EV stock before you see this...
Louis Navellier — the analyst who found Microsoft at 38 cents — just named a top EV company to watch...
And it’s not Tesla.
Click here to see what it is.
JPMorgan Chase & Co. Cuts Cleveland-Cliffs (NYSE:CLF) Price Target to $37.00
Posted on Tuesday, June 14th, 2022 by MarketBeat
https://www.marketbeat.com/instant-alerts/nyse-clf-a-buy-or-sell-right-now-2022-06-2/