CLF stock has experienced a significant decline in recent years, with a 50% drop in value since 2020. This decline is largely attributed to the company's struggling iron ore business.
The company's quarterly earnings have consistently fallen short of expectations, with a 20% decline in revenue in the most recent quarter. This trend suggests a lack of growth and stability in the company's operations.
CLF stock's volatility is also a concern, with a 30% fluctuation in price over the past year. This unpredictability makes it challenging for investors to make informed decisions about their portfolios.
Despite these challenges, some analysts are optimistic about CLF's future prospects, citing the company's efforts to diversify its business and reduce debt. However, it remains to be seen whether these efforts will be enough to turn the company's fortunes around.
Recommended read: Clf Stock Buy or Sell
Financial Performance
Cleveland-Cliffs's revenue in 2023 was $22.00 billion, a decrease of -4.32% from the previous year.
Their earnings were $399.00 million in 2023, a significant decrease of -70.11% compared to the previous year.
The company's recent performance has been weak, but its long-term growth potential remains strong.
Cleveland-Cliffs's revenue in 2023 was $22.00 billion, a decrease of -4.32% from the previous year's $22.99 billion.
Despite recent declines, the company remains a "Buy" due to its strategic focus and attractive valuation.
Analyst Forecast
According to 12 analysts, the average rating for CLF stock is "Buy." The 12-month stock price forecast is $16.78, which is an increase of 63.87% from the latest price.
One analyst, GLJ Research's Gordon L. Johnson II, has upgraded CLF stock to "Buy" from "Sell" with a price forecast of $14.27.
CLF stock is expected to grow significantly, with earnings forecast to increase by 121.65% per year.
Take a look at this: Stock Price
News and Updates
Cleveland-Cliffs has signaled a possible new bid for U.S. Steel after the Biden administration blocked Nippon Steel from acquiring the company.
This move by Cleveland-Cliffs is significant, as it shows the company's renewed interest in expanding its operations.
Cleveland-Cliffs Inc. remains a "Buy" despite recent declines, driven by long-term growth potential, strategic focus, and attractive valuation.
Q3 Shortfall Linked to Automotive Adjustments
Cleveland-Cliffs Inc. shares are trading lower on Tuesday following weak third-quarter results reported on Tuesday.
Smaller commodity producers have a tough time staying profitable during downturns.
Cleveland-Cliffs' Q3 performance was weak due to automotive adjustments.
The company remains a "Buy" despite recent declines, driven by long-term growth potential, strategic focus, and attractive valuation.
Indicates a New Development
Cleveland-Cliffs is considering a new bid for U.S. Steel after the Biden administration blocked Nippon Steel from acquiring the company.
The company's CEO, Lourenco Goncalves, has expressed interest in acquiring U.S. Steel, as reported by CNBC.
Cleveland-Cliffs has partnered with Nucor to prepare a potential bid for U.S. Steel, according to CNBC.
This move comes after the Biden administration blocked Nippon Steel from acquiring U.S. Steel, leaving the door open for other potential buyers.
Cleveland-Cliffs' stock has been impacted by recent declines, but the company remains a "Buy" due to its long-term growth potential and strategic focus.
The company's Q3 2024 performance was weak due to automation issues, but its long-term prospects remain strong.
U.S. Steel's stock jumped after a report that Cleveland-Cliffs and Nucor are teaming up for a potential bid for the company.
Cleveland-Cliffs' partnership with Nucor on a potential bid for U.S. Steel is a significant development in the steel industry.
Analysts are taking notice of Cleveland-Cliffs' move, with one analyst upgrading the company's stock to "Buy" with a price forecast of $14.27.
Frequently Asked Questions
Is CLF stock a buy or sell?
According to Wall Street analysts, CLF stock is generally considered a buy. However, it's always a good idea to do your own research and consider multiple perspectives before making an investment decision.
What is the future of CLF?
According to recent analyst forecasts, CLF stock is expected to increase by 58.55% to $14.65 within the next 12 months, with a potential high of $18.00 and low of $11.00. This forecast suggests a promising future for CLF, but it's essential to stay informed about market trends and developments.
Is Cleveland-Cliffs undervalued?
Cleveland-Cliffs Inc is undervalued by 40% based on its intrinsic value of 15.46 USD compared to the current market price of 9.33 USD. This suggests a potential opportunity for investors to buy at a discounted price.
What is the symbol for Cleveland-Cliffs?
The ticker symbol for Cleveland-Cliffs is CLF. You can find Cleveland-Cliffs' shares listed on the New York Stock Exchange.
Who owns most of Cleveland-Cliffs stock?
Institutional investors hold the majority of Cleveland-Cliffs stock, owning approximately 55.15% of the company's shares. This is significantly more than individual and public investors combined.
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