Cleveland Cliffs Inc (CLF)

[abracky]

Investor's Business DailyInvestor's Business DailyFREE - In Google Play


Cleveland-Cliffs Stock Earns Relative Strength Upgrade; Ups Steel Prices



INVESTOR'S BUSINESS DAILY and JULIE MAK

 

03:08 PM ET 11/17/2023

On Friday, Cleveland-Cliffs (CLF) stock earned an upgrade to its Relative Strength (RS) Rating, from 78 to 83. The steel producer announced last week it's raising prices again for all carbon hot rolled, cold rolled and coated steel products. The base price for hot rolled steel is now $1,000 per net ton.


Is Cleveland-Cliffs Stock A Buy?

While it's not currently an ideal time to jump in, see if the steel producer stock manages to form a chart pattern and break out. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
 

Top and bottom line growth moved higher in the company's most recent quarter. Earnings were up 86%, compared to -48% in the prior report. Revenue increased from -6% to -1%.
Cleveland-Cliffs stock holds the No. 6 rank among its peers in the Steel-Producers industry group. Grupo Simec ADR (SIM) and TERNIUM ADR (TX) are also among the group's highest-rated stocks.



RELATED NEWS


Steel Producer Cleveland-Cliffs Stock Climbs Into Higher RS Rating Level

11/02/2023 Cleveland-Cliffs shows rising price performance, earning an upgrade to its...