Cleveland Cliffs Inc (CLF)

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Cleveland-Cliffs: Steel Is Hot And The Stock Is Cheap, But There's More

Mar. 13, 2023 12:06 PM ETCleveland-Cliffs Inc. (CLF)15 Comments9 Likes

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Michael Wiggins De Oliveira

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Summary

Cleveland-Cliffs Inc. is well positioned for a stronger steel market. Steel prices are way past the lows of 2022.

Cleveland-Cliffs' balance sheet carries more than $5 billion in debt plus pensions. This will get in the way of significant shareholder returns.



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Michael Wiggins De Oliveira

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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.



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