CLF Stock Recent News

U.S. steelmaker Cleveland-Cliffs said on Monday it would acquire Canadian peer Stelco Holdings in a deal valued at $2.5 billion.

Cleveland-Cliffs, a vertically integrated steel mill operator, is poised to report its Q2 2024 results around July 23. We expect revenue to come in at $5.4 billion, marking a decline of about 12% compared to the last year, and slightly ahead of estimates.

In the latest trading session, Cleveland-Cliffs (CLF) closed at $15.40, marking a +1.45% move from the previous day.

Cleveland-Cliffs is scheduled to report its second quarter earnings later this month and investors' focus is shifting away from capital allocation. Profitability and costs will be in the spotlight, as gross margins seem to have bottomed already. Although there are strong short-term tailwinds, I do not see the stock as a buy yet and the rest of 2024 is unlikely to be a smooth sailing for shareholders.

Cleveland-Cliffs (CLF) reachead $15.47 at the closing of the latest trading day, reflecting a -1.09% change compared to its last close.

Despite recent underperformance, CLF remains undervalued with potential for margin expansion and growth in the steel industry. Analysts' concerns and downgrades may pose risks, but CLF's undervaluation and growth prospects make it a strong 'Buy' in the medium term. I believe CLF's EBITDA growth should continue due to a rebound in service center buyer demand and the continuation of cost reduction programs.

CLEVELAND--(BUSINESS WIRE)--Cleveland-Cliffs Inc. (NYSE: CLF) will announce its second-quarter 2024 earnings results after the U.S. market close on Monday, July 22, 2024. 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 Tuesday, July 23, 2024, at 8:30 am ET. The call can be accessed at www.clevelandcliffs.com and will also be archived and available for replay at that address.

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CLEVELAND--(BUSINESS WIRE)--Cleveland-Cliffs Inc. (NYSE: CLF) today hosted U.S. Senator Sherrod Brown (OH) and leadership from the United Steelworkers, David McCall, USW International President and Donnie Blatt, Director of USW District 1, at its Cleveland Works plant in Ohio for a press conference. A full video of the press conference, including both prepared remarks and media Q&A, has been posted on its website at www.clevelandcliffs.com. The video can also be found on the Company's YouTu.

In the closing of the recent trading day, Cleveland-Cliffs (CLF) stood at $14.45, denoting a -1.97% change from the preceding trading day.