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Heck of a scam company.
4 Steel Stocks to Buy for a Historic Infrastructure Boom
8/31/2021 6:00am EDT
By Faisal Humayun
Steel stocks were once king in America. Over recent years, though, the economy of the United States has been driven by the consumption and services sector. However, it seems that the next decade will witness a revival of the manufacturing and infrastructure sector.
This is critical as the economy needs a finer balance between production and consumption.
With the $1 trillion infrastructure bill likely to pass the final hurdle, infrastructure-related stocks have been surging. Steel stocks have already witnessed a strong rally in the last 12-months and more upside seems likely with multi-year positive tailwinds on the cards.
My point is backed by the prediction from UBS (NYSE:UBS) that steel prices will continue to surge in 2022. This would imply higher revenue, EBITDA margin and cash flows for steel producers. It’s also worth noting that steel companies are also likely to benefit from the boom in the electric vehicle and renewable energy industries.
Let’s therefore talk about four steel stocks that seem to be best positioned to benefit from the impending historic infrastructure boom.
United States Steel (NYSE:X)
Steel Dynamics (NASDAQ:STLD)
Nucor Corporation (NYSE:NUE)
Cleveland-Cliffs (NYSE:CLF)
https://investorplace.com/2021/08/4-steel-stocks-to-buy-for-a-historic-infrastructure-boom/
$100 pps coming.
China will have to buy its steel from Cleveland Cliffs.
Over $1 after hours.
The corupt shorts keeps playing this.
They will have there day when CLF pops $100 a share.
Cleveland-Cliffs Announces Executive Management Promotions
Source: Business Wire
Cleveland-Cliffs Inc. (NYSE: CLF) today announced the promotion of three key leaders at the executive level, effective September 1, 2021. The announcement comes as Cliffs seeks to broaden its already robust raw material portfolio by expanding its scrap recycling presence, an activity that will fall under a newly created division named Cleveland-Cliffs Services. The ongoing steel business stays within Cleveland-Cliffs Steel, an already existing Cleveland-Cliffs Inc.’s division.
Clifford T. Smith, currently EVP, Chief Operating Officer, has been promoted to EVP & President, Cleveland-Cliffs Steel. He will continue to lead operations and commercial for all business segments including Steelmaking, Tooling and Stamping, and Tubular Components.
Keith A. Koci, currently EVP, Chief Financial Officer, has been promoted to EVP & President, Cleveland-Cliffs Services. He will assume corporate responsibility for procurement, logistics, IT, and scrap recycling. He will lead the growth of Cliffs’ raw material portfolio, with a primary emphasis on expanding Cliffs’ presence in the domestic scrap recycling market.
Celso L. Goncalves, currently SVP, Finance & Treasurer, has been promoted to EVP, Chief Financial Officer. He will lead the financial organization for Cleveland-Cliffs Inc., assuming executive responsibility for Finance, Accounting, Tax, Treasury and Investor Relations. He will also continue to lead key strategic corporate and business development initiatives.
All three individuals will report directly to Lourenco Goncalves, Cleveland-Cliffs Inc. Chairman, President and CEO, who said, “Today’s announcement represents the formation of the ideal leadership structure for our recently transformed company going forward, with promotions to the three members of my core team. Cliff Smith, Keith Koci and Celso Goncalves have been critical contributors to our remarkable transformation over the past two years, and I will rely on them to continue to execute on our strategic objectives. I plan to be in this seat for the long term, and the collaboration of these three executives and their work with me are paramount to the continued success of our company.”
Mr. Goncalves added, “First, Cliff has been and will continue to be my second in command at Cleveland-Cliffs, and the success of the integration of our two major acquisitions speaks to his effective leadership. Second, in this new era of steel decarbonization, scrap will become precious metal, and Keith’s deep background in M&A makes him the perfect person to lead this venture. And finally, through his successful career both in investment banking and here at Cliffs leading our capital structure transformation initiatives, Celso has perfected the skills I need in a CFO at this time.”
Executive Biographies
Clifford T. Smith joined Cleveland-Cliffs in 2003, and has served as Executive Vice President, Chief Operating Officer (January 2019 – present); and Executive Vice President, Business Development (April 2015 – January 2019). Prior to these roles, he has also held various senior management positions including oversight of Seaborne Iron Ore, Latin American Operations and Cliffs Michigan Operations. Prior to joining Cliffs, Mr. Smith held mine management positions with Asarco, Southern Peru Copper Corporation, and Amax Coal. He received a B.S. in mining engineering from the South Dakota School of Mines and Technology.
Keith A. Koci joined Cleveland-Cliffs in 2019, and has served as Executive Vice President, Chief Financial Officer for his entire tenure. Prior to joining Cliffs, Mr. Koci served most recently as Senior Vice President and Chief Financial Officer for Metals USA. He also previously held the roles of Senior Vice President, Business Development; Vice President, Corporate Controller; Director of Budgeting; and Regional Controller for Metals USA. Mr. Koci graduated from the University of Illinois – Chicago with a B.S. in Business Administration.
Celso L. Goncalves joined Cleveland-Cliffs in 2016, and has served as Senior Vice President, Finance & Treasurer (March 2020 – Present); Vice President, Treasurer (December 2017 – March 2020); and Assistant Treasurer (September 2016 – December 2017). Prior to joining Cliffs, Mr. Goncalves worked in Investment Banking at Deutsche Bank in New York and at Jefferies in New York and São Paulo, Brazil. Mr. Goncalves earned his M.B.A. from the Tepper School of Business at Carnegie Mellon University and his B.S. from the Marshall School of Business at the University of Southern California.
About Cleveland-Cliffs Inc.
Cleveland-Cliffs is the largest flat-rolled steel producer in North America. Founded in 1847 as a mine operator, Cliffs also is the largest manufacturer of iron ore pellets in North America. The Company is vertically integrated from mined raw materials and direct reduced iron to primary steelmaking and downstream finishing, stamping, tooling, and tubing. The Company serves a diverse range of markets due to its comprehensive offering of flat-rolled steel products and is the largest supplier of steel to the automotive industry in North America. Headquartered in Cleveland, Ohio, Cleveland-Cliffs employs approximately 25,000 people across its mining, steel and downstream manufacturing operations in the United States and Canada. For more information, visit www.clevelandcliffs.com.
?
View source version on businesswire.com: https://www.businesswire.com/news/home/20210830005277/en/
MEDIA CONTACT:
Patricia Persico
Director, Corporate Communications
(216) 694-531
INVESTOR CONTACT:
Paul Finan
Vice President, Investor Relations
(216) 694-654
Is Cleveland-Cliffs Set To Rise Further After Its 70% Rally?
https://www.trefis.com/stock/clf/articles/523623/is-cleveland-cliffs-set-to-rise-further-after-its-70-rally/2021-08-27
Behind Cleveland-Cliffs Stock Strength Is a Brazilian Betting on America
8/27/2021 6:00am EDT
By Dana Blankenhorn, InvestorPlace Contributor
Since mid-May, the strongest stock in my retirement portfolio has been Cleveland-Cliffs (NYSE:CLF). I didn’t go all-in on the steelmaker. But I have seen a 26% gain in CLF stock in just three months. This despite several bear attacks that, at one point in July, had me sitting on a loss in my position.
CLF stock is controversial for two reasons. First, it’s a steel producer and, unlike rival Nucor (NYSE:NUE), it’s using freshly mined iron and coal, not just scrap. Second, it’s sitting on a lot of debt, almost $5.4 billion at the end of June.
The skepticism means you can still get this growth company for less than 15 times earnings. Make no mistake. This is a growth company.
Great Timing
The current version of Cleveland-Cliffs is the creation of Lourenco Goncalves, a native of Brazil, who joined the company in 2014. Goncalves led moves to buy AK Steel in early 2020, then Arcelor-Mittal’s U.S. operations last December. This made Cleveland-Cliffs the largest producer of flat-rolled steel in the country, and the largest iron pellet producer.
His timing was exquisite. The perceived easing of the pandemic early this year was followed by big government infrastructure plans. China, which has kept other steel producers down with low costs, then decided to cut production to reduce air pollution.
The result is that CLF has buyers for all the metal it can produce. Goncalves told his July 22 earnings call that second-quarter revenues rose $1 billion but cost of goods sold rose just $100 million, compared with the first quarter. The company reported net income of $795 million, $1.33 per share, on revenue of $5 billion.
Still, analysts called that a miss, expecting earnings of $1.52 a share. The shares fell 8% after the announcement, but opened on Aug. 19 some 20% higher than they were before the results.
Keeping it Up
Goncalves is focused on maintaining the momentum.
He has made quick agreements with unions. He’s giving every worker who gets vaccinated $1,500. He put $100 million into a project to reduce emissions at his East Chicago plant. He entered a technology testing project with the U.S. Department of Energy, also focused on lowering emissions.
Analysts now think CLF has room to run as the recovery picks up steam. Of the six analysts following it and tracked by TipRanks, five want you to buy it. Their average one-year price target is almost $31. Even some cynics on Redditt’s r/WallStreetBets are warming to CLF stock.
The Skeptics
There remain skeptics.
Over 10% of CLF’s float was still being held short at the end of July. There’s more short interest in CLF stock than in any other steelmaker.
CNBC’s Jim Cramer still prefers Nucor to Cliffs. For the 12 months ending June 30, CLF stock more than doubled NUE stock’s performance, up 290.6% vs. 131.7%.
Chinese production cuts mean iron ore prices are down. A slowing economic recovery in China means less demand and more supply of cheap Chinese steel. Some analysts criticized Goncalves for giving priority to reducing debt when interest rates are at record lows. They were wrong.
The Bottom Line on CLF Stock
While I was late to the CLF stock bandwagon, I still think it’s a great bet on hard infrastructure, which has bipartisan support.
Once Goncalves pushes down the debt created in assembling the company, he will have room for buybacks and dividends. So far, he has resisted issuing new equity to pay off the debt, although with a market cap of $12 billion he easily could.
That might be because Goncalves is personally invested in his company. Despite holding large stock options as CEO, there’s no record of his selling shares over the last seven years. He’s on the shareholder’s side.
That means he’s on my side.
On the date of publication, Dana Blankenhorn held long positions in CLF. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Dana Blankenhorn has been a financial and technology journalist since 1978. He is the author of Living With Moore’s Law: Past, Present and Future available at the Amazon Kindle store. Write him at danablankenhorn@gmail.com or tweet him at @danablankenhorn. He writes a Substack newsletter, Facing the Future, which covers technology, markets, and politics.
https://investorplace.com/2021/08/cleveland-cliffs-a-brazilian-is-betting-on-america/
Cleveland-Cliffs (CLF) Crossed Above the 20-Day Moving Average: What That Means for Investors
Zacks Equity Research
August 25, 2021, 10:00 am
Cleveland-Cliffs (CLF) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, CLF broke through the 20-day moving average, which suggests a short-term bullish trend.
A well-liked tool among traders, the 20-day simple moving average offers a look back at a stock's price over a 20-day period. This is very beneficial to short-term traders, as it smooths out short-term price trends and gives more trend reversal signals than longer-term moving averages.
Like other SMAs, if a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.
Moving Average Chart for CLF
CLF has rallied 11.3% over the past four weeks, and the company is a Zacks Rank #1 (Strong Buy) at the moment. This combination suggests CLF could be on the verge of another move higher.
Looking at CLF's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 2 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.
With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on CLF for more gains in the near future.
Smart
What's going on here?
Cliffs to shift scrap buying internally
Published date: 23 August 2021
Cleveland-Cliffs plans to shift its scrap buying to an internal organization, mirroring moves made by other large steel producers.
In an initiative headed by chief financial officer Keith Koci which will start on 1 September, the steelmaker will begin sourcing scrap internally. This move will put the company on a short list of steel producers that also operate scrap buying arms, like Nucor with David J. Joseph and Steel Dynamics (SDI) with Omnisource.
The company has had conversations with scrap companies on this topic.
Cliffs also plans to buy more scrap as its blast furnaces increase their consumption of hot-briquetted iron (HBI), chief executive Lourenco Goncalves said in an interview with Argus.
Goncalves wants to increase the consumption of HBI, which is produced at the company's plant in Ohio, up from 60pc currently, he said.
With higher blast furnace HBI consumption, the company's electric arc furnaces (EAFs) — which had replaced some prime scrap with the internally produced HBI — will need additional prime scrap, Goncalves said.
"I will be in scrap very soon," Goncalves said. "Scrap is scarce, it's not increasing, and I want my piece of that."
By Rye Druzin
illuminating the markets®
© 2021 Argus Media group. All rights reserved.
Cleveland-Cliffs is North America’s largest producer of flat rolled steel and iron ore pellets, highest quality steel in the world. This company is going nowhere but up.
Steelmakers Grapple With How to Cut Carbon Emissions
Cleaning up one of the world’s dirtiest industries is key to hitting global climate goals, but the process is costly for companies
By
Alistair MacDonald | Photographs by Emily Rose Bennett for The Wall Street Journal
Aug. 21, 2021 6:16 am ET
A recent shipment of 24 metric tons of Swedish steel could mark the beginning of what the steel industry hopes is a new era: the cleanup of one of the world’s dirtiest industries.
Big steelmakers in Europe and the U.S., like ArcelorMittal SA and Cleveland-Cliffs Inc., are intensifying efforts to curb carbon emissions, hoping to woo customers and fend off growing pressure from investors and governments. On Thursday, Sweden’s SSAB AB shipped what it said was the world’s first commercial shipment of steel made without fossil...
https://www.wsj.com/articles/steelmakers-grapple-with-how-to-cut-carbon-emissions-11629540961
This company is tanking.
Worthless soon.
Marker Therapeutics Inc. (MRKR): The Long Term Indicators On The Stock Say Sell Today
By Heidi Phillips
August 20, 2021
https://baxterreport.com/2021/08/20/marker-therapeutics-inc-mrkr-the-long-term-indicators-on-the-stock-say-sell-today/
Steel company estimates 'way too low,' Credit Suisse says in bullish update
Aug. 18, 2021 5:25 PM ETUnited States Steel Corporation (X), SLXCleveland-Cliffs Inc. (CLF)Nucor Corporation (NUE)Steel Dynamics, Inc. (STLD)By: Carl Surran, SA News Editor43 Comments
Steel stocks led by U.S. Steel (NYSE:X) were strong performers today, with Credit Suisse saying it remains "very bullish" on the sector as estimates are "way too low" and valuations are "very compelling."
According to Bloomberg, Credit Suisse's Curt Woodworth raised estimates for 2021 hot-rolled coil steel prices to $1,570/st and 2022 prices to $1,200/st, while also raising stock price targets and EPS estimates across the firm's steel coverage.
In addition to U.S. Steel, Woodworth's top picks in the group are Cleveland-Cliffs (NYSE:CLF), Nucor (NYSE:NUE) and Steel Dynamics (NASDAQ:STLD); the four names finished +4.2%, +2.5%, +1% and +0.5% respectively in today's trading.
ETF: SLX
Separately, U.S. Steel says it is planning blast furnace outages during Q4 at Gary Works in Indiana, Granite City Works in Illinois, and Big River Steel in Arkansas.
S&P Global Platts estimates the outages will cause 315K mt of melt loss for the company.
Seeking Alpha contributor Leo Nelissen says U.S. Steel bulls are wrong, as "economic expectations are peaking, which is creating a very unfavorable risk/reward," in a recently posted analysis of the company.
Industrial miners under pressure from slumping metals prices
Aug. 19, 2021 9:10 AM ETFCX, HG1:COM...Alcoa Corporation (AA), Anglo American plc (AAUKF), Anglo American plc (NGLOY)...By: Carl Surran, SA News Editor12 Comments
Shares of industrial metal miners appear headed for another down day, as worries over Chinese steel production accelerate losses for iron ore and copper prices.
Big pre-market decliners include VALE -5.2%, FCX -3.9%, AA -3.4%, BHP -3.4%, TECK -3.2%, RIO -2.9%, CENX -2.4%.
Steelmakers are posting hefty losses: MT -4.6%, CLF -3.1%, TX -3.1%, NUE -2.8%, X -2.3%.
Other relevant tickers include OTCPK:GLCNF, OTCPK:GLNCY, OTCQX:AAUKF, OTCQX:NGLOY, OTC:ANFGF, OTCPK:FQVLF
Iron ore futures (SCO:COM) in Singapore are crushed as much as 12% to the lowest since December on expectations that Chinese steel output and consumption will weaken over the rest of the year.
Benchmark London copper (HG1:COM) recently -2.9% at $8,783.5/metric ton after falling to $8,740/mt, the lowest since April 1.
All base metals are lower, even tin, which hit all-time record highs last week in London.
"China's government is determined to slow growth - they have been flagging this since March - we have a virus that won't go away, and Fed officials expecting to reduce bond buying are hurting commodities," Liberum analyst Tom Price tells Reuters.
"The logic is, the weaker demand is, the stricter steel production curbs will be," according to analysts at CITIC Securities.
Meanwhile, iron ore supplies are also expected to gain from domestic miners, Brazil and other non-mainstream countries, says Tianfeng Futures analyst Li Wentao.
Industrial metals miners opened the week with big losses too after China reported disappointing data on industrial production growth.
Doubt it.
KAYA HOLDINGS, INC. - Management's Discussion and Analysis of Financial... -
https://m.marketscreener.com/quote/stock/KAYA-HOLDINGS-INC-120792914/news/KAYA-Management-s-Discussion-and-Analysis-of-Financial-Condition-and-Results-of-Operations-form-36175096/
Lineage Cell (LCTX) Reports Q2 Loss, Misses Revenue Estimates
https://www.nasdaq.com/articles/lineage-cell-lctx-reports-q2-loss-misses-revenue-estimates-2021-08-12
STOP SHORTING CLEVELAND CLIFFS
CROOKS. WE KNOW WHO YOU ARE.
THE TIME IS COMING.
ALERT URGENT
Cleveland-Cliffs to invest $100 million in project that will reduce carbon emissions at East Chicago steel mill
A train carrying molten iron passes in front of Blast Furnace No. 7 at ArcelorMittal in East Chicago. The blast furnace is the largest in the Western Hemisphere. Times file photo?
Joseph S. Pete joseph.pete@nwi.com, (219) 933-3316
7 min ago
Cleveland-Cliffs will invest $100 million in the No. 7 Blast Furnace at Indiana Harbor East in East Chicago, which is the largest blast furnace in the Western Hemisphere.
The Cleveland-based steelmaker plans to update the blast furnace at its sprawling Indiana Harbor steel mill, making it more environmentally friendly and creating work for hundreds of contractors for more than a month.
"We are deploying a $100 million investment to Indiana Harbor No. 7," Cleveland-Cliffs Chairman, President and CEO Lourenco Goncalves said. "It's happening starting Sept. 1 and will last 45 days."
The largest blast furnace in North America, which produces 33% more metal per day than Cleveland-Cliffs' two blast furnaces at the integrated Cleveland Works steel mill combined, will be idled between Sept. 1 and Oct. 15 for a massive construction project
The blast furnace will be modernized to burn the new feedstock of hot-briquetted iron as well as of iron ore, which should reduce its carbon footprint. Cleveland-Cliffs has been investing significantly in HBI as a less carbon-intensive raw material that can be used in the integrated steelmaking process.
"When that furnace comes back, it will be larger, using a lot more HBI and emitting a lot less CO2," Gonclaves said. "It's already very good. We use massive amounts of HBI and we inject natural gas in the furnace."
Blast Furnace No. 7 at the former Inland Steel mill in East Chicago was built 41 years ago and can forge as much as 11,500 tons of iron a day, according to the Steel Market Update. It was last relined seven years ago, when then-owner ArcelorMittal invested $70 million in it.
"We're changing what we do with the furnace today," he said. "On the inside of the furnace, we're going to be able to use more HBI. You're going to start seeing contractors out there soon."
Steelworkers who work at blast furnaces are typically moved to other parts of the steel mill during planned outages. United Steelworkers Union District 7 Director Mike Millsap said no temporary layoffs would take place at the mill during the No. 7 Blast Furnace project.
View on http://www.nwitimes.com
Good luck with that. Elio is a con man.
IMHO
Cleveland-Cliffs positive outlook well priced, Morgan Stanley says
$35 a share coming.
You can't have my shares Almostthere. I will be loading up until 2023.
Senate passes $1 trillion bipartisan infrastructure bill, sending key part of Biden's economic agenda to the House
It figures you get you fake bias news from CNN.
Only a shorter would call CLF a POS stock. $50k. Chump change.
Also more analysts are rating CLF to Buy & Strong Buy.
The sad part is the biased media does not produce news. You don't know what to believe. You have a corupt administration letting in illegal aliens just for their vote full of Covid.
What laws do we have to protect us?
These are crazy times but iron and steel are cyclical stocks and we will always need them. Bridges, buildings, vehicles, electric or fossel fuel.
Here's you scam unintelligent.
https://www.clevelandcliffs.com/
WRONG.
Back to $24. Should we start dumping?
Cleveland-Cliffs sets records for revenue, expects to soon be debt-free
https://www.nwitimes.com/business/local/cleveland-cliffs-sets-records-for-revenue-expects-to-soon-be-debt-free/article_f64e2979-52b7-5272-9b38-c122d589c444.html
Cleveland-Cliffs’ New 3-Year Labor Contract with United Auto Workers Ratified at Dearborn Works
August 5, 2021, 1:38 pm
CLEVELAND, August 05, 2021--(BUSINESS WIRE)--Cleveland-Cliffs Inc. (NYSE: CLF) announced today that its employees represented by the United Auto Workers (UAW) Local 600 have ratified a three-year labor contract for its Dearborn Works operations. The new contract is retroactively effective from August 1, 2021 through July 31, 2024, and will cover approximately 1,000 UAW-represented workers at Dearborn.
Lourenco Goncalves, Chairman, President and CEO, stated, "We are extremely pleased to continue our commitment to good-paying middle class union jobs with a new labor agreement at Dearborn. Our union workforce is at the core of what we do at Cleveland-Cliffs, and Cleveland-Cliffs is at the core of American manufacturing as a whole. This is particularly relevant now, with the very real challenges and opportunities related to a new green era in steelmaking and in manufacturing. Dearborn is home of the most modern galvanizing line in the country, built in 2011 to produce the most advanced extra-wide automotive-grade exposed materials, among several other high end specs. Our local team at Dearborn is committed to the long-term health and success of our Company and our country, and as such, we were able to get a deal done with the UAW Local 600 that is fair and equitable for both sides." Mr. Goncalves added, "Differently from almost all other companies in this country, we embrace our unions as partners, and work with them as equals in pursuing our common goals. Our partnership is a powerful one and, with this latest deal, we will maintain our competitive cost structure in flat-rolled steel relative to any of our peers, union or non-union."
About Cleveland-Cliffs Inc.
Cleveland-Cliffs is the largest flat-rolled steel producer in North America. Founded in 1847 as a mine operator, Cliffs also is the largest manufacturer of iron ore pellets in North America. The Company is vertically integrated from mined raw materials and direct reduced iron to primary steelmaking and downstream finishing, stamping, tooling, and tubing. The Company serves a diverse range of markets due to its comprehensive offering of flat-rolled steel products and is the largest supplier of steel to the automotive industry in North America. Headquartered in Cleveland, Ohio, Cleveland-Cliffs employs approximately 25,000 people across its mining, steel and downstream manufacturing operations in the United States and Canada. For more information, visit www.clevelandcliffs.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210805005921/en/
Contacts
MEDIA CONTACT:
Patricia Persico
Director, Corporate Communications
(216) 694-5316
INVESTOR CONTACT:
Paul Finan
Vice President, Investor Relations
(216) 694-6544
Cleveland-Cliffs sets records for revenue, expects to soon be debt-free
https://www.nwitimes.com/business/local/cleveland-cliffs-sets-records-for-revenue-expects-to-soon-be-debt-free/article_f64e2979-52b7-5272-9b38-c122d589c444.html