Tuesday, May 17, 2022 11:47:06 AM
Cleveland-Cliffs Stock Shows Improving Market Leadership; Earns 89 RS Rating
INVESTOR'S BUSINESS DAILY and JULIE MAK
01:18 PM ET 05/16/2022
When looking for the best stocks to buy and watch, focus on those with rising relative price strength.
One stock that fits that bill is Cleveland-Cliffs (CLF) stock, which had its Relative Strength (RS) Rating upgraded from 76 to 89 Monday.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary RS Rating tracks market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the last 52 weeks matches up against the rest of the market.
Over 100 years of market history shows that the best stocks typically have an 80 or better RS Rating in the early stages of their moves.
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Is Cleveland-Cliffs Stock A Buy?
Cleveland-Cliffs stock has pulled back along with the stock market correction. The steel producer is currently trading below its 50- and 200-day moving average and not offering a proper buying opportunity. See if the stock goes on to build a base that could launch a new move. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
The steel producer firm showed 389% earnings growth in the latest quarterly report. Revenue rose 47%.
Cleveland-Cliffs stock earns the No. 7 rank among its peers in the Steel-Producers industry group. Steel Dynamics (STLD) and Huadi International Grp (HUDI) are also among the group's highest-rated stocks.
Recent CLF News
- Form SD - Specialized disclosure report • Edgar (US Regulatory) • 09/20/2024 08:23:00 PM
- Cleveland-Cliffs Announces Shareholder Approval of Arrangement to Acquire Stelco • Business Wire • 09/16/2024 08:15:00 PM
- Cleveland-Cliffs Reaffirms Commitment to Middletown Works Decarbonization Project and Ongoing Partnership with the U.S. Department of Energy • Business Wire • 09/16/2024 06:15:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/13/2024 08:33:33 PM
- Cleveland-Cliffs Successfully Amends Asset-Based Lending Facility • Business Wire • 09/13/2024 12:31:00 PM
- Cleveland-Cliffs Commends President Biden’s Reported Decision to Block Foreign Ownership of U.S. Steel by Japan’s Nippon Steel • Business Wire • 09/05/2024 08:46:00 PM
- Cleveland-Cliffs Announces Promotion of Michael Hrosik to Senior Vice President, Commercial • Business Wire • 08/21/2024 04:16:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/16/2024 09:17:13 PM
- Cleveland-Cliffs’ New 4-Year Labor Contract with the UAW Ratified at Dearborn Works • Business Wire • 08/16/2024 05:38:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/13/2024 09:14:47 PM
- Cleveland-Cliffs Inc. Announces Upsizing and Pricing of an Additional $600 Million Senior Guaranteed Notes due 2032 • Business Wire • 08/13/2024 08:11:00 PM
- Cleveland-Cliffs Inc. Announces Proposed Offering of an Additional $500 Million Senior Guaranteed Notes due 2032 • Business Wire • 08/13/2024 01:07:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/01/2024 07:12:56 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 07/24/2024 08:19:46 PM
- SAP Shares Surge 6%, NXP Declines 8% on Lower-than-Expected Profits, and More Earnings Highlights • IH Market News • 07/23/2024 10:02:34 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/22/2024 08:47:27 PM
- Cleveland-Cliffs Reports Second-Quarter 2024 Results • Business Wire • 07/22/2024 08:05:00 PM
- Cleveland-Cliffs Announces Its New State-of-the-Art Electrical Transformer Production Plant in Weirton, West Virginia • Business Wire • 07/22/2024 11:00:00 AM
- US Index Futures Advanced, Oil Prices Inch Higher • IH Market News • 07/22/2024 10:06:47 AM
- Match Group Soars 8% Amid Potential Sale Pressure; Deutsche Bank Anticipates 2Q Loss, and More • IH Market News • 07/16/2024 10:10:09 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/15/2024 09:00:49 PM
- Cleveland-Cliffs Announces the Acquisition of Stelco • Business Wire • 07/15/2024 10:00:00 AM
- Cleveland-Cliffs to Announce Second-Quarter 2024 Earnings Results on July 22 and Host Conference Call on July 23 • Business Wire • 07/01/2024 06:38:00 PM
- Cleveland-Cliffs Posts Press Conference and Q&A with U.S. Senator Sherrod Brown and USW International President David McCall on Website • Business Wire • 06/26/2024 07:09:00 PM
- Cleveland-Cliffs to Host U.S. Senator Sherrod Brown and USW International President David McCall at Cleveland Works • Business Wire • 06/24/2024 08:49:00 PM
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