|Bid||51.07 x 1100|
|Ask||52.70 x 1800|
|Day's Range||52.09 - 52.68|
|52 Week Range||43.19 - 57.25|
|Beta (3Y Monthly)||0.24|
|PE Ratio (TTM)||25.62|
|Forward Dividend & Yield||2.36 (4.46%)|
|1y Target Est||49.77|
Neuberger Berman Group is an independent, employee-owned investment manager that was a part of Lehman Brothers. It was formed way back in 1939, and now it offers offices to its clients across 35 cities around the world. The firm manages fixed income, hedge fund portfolios, and equities for its clients, which include wealthy individuals, global […]
For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...
As Vale Warns of a Possible Dam Collapse, Iron Ore Surges(Continued from Prior Part)Reduced supply of iron oreIron ore miners, including Vale (VALE), BHP Billiton (BHP), and Rio Tinto (RIO), have signaled reduced iron ore production, and steel mills
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Teck Resources' financial health was a big question mark a few years back, but it's now official: It's fixed the problem, and that's a good thing
Vale's operations are starting to come back on line after a shutdown following a mine disaster, but there's still plenty to worry about.
BHP (BHP) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank 2 (Buy).
The first-quarter numbers from Cleveland-Cliffs (NYSE:CLF) weren't much to write home about. CLF stock opened higher on Friday of last week, after they were posted, only to make its way to an intraday loss of 3.5%.Source: Shutterstock Then something curious happened. Cleveland Cliffs stock fully recovered. It's held onto that rebound in the meantime.The stock's still not above key lines in the sand, to be clear, and is far from kick-starting a fresh, full-blown uptrend. There's a reason the largely tacit bulls have kept Cleveland Cliffs stock in the hunt for a breakout move, though. That is, despite an assumed lack of global economic strength, industry insiders have been hard-pressed to find real evidence that the iron ore pellet business is truly on the defensive.InvestorPlace - Stock Market News, Stock Advice & Trading TipsCLF stock still looks just one nudge away from a wave of bullishness, and the undertow is pushing it in that direction. The Quarter That Wasn'tBlame Vale (NYSE:VALE) for the difficulty in pinning down the true strength of current and future iron ore market. The Brazilian behemoth suffered not one but two dam bursts near its mines in recent years, with the most recent one unfolding in January of this year. The latter one claimed a few dozen lives, and forced a shutdown of a major mining operation that has affected the global supply iron ore pellets. * 7 Dividend Stocks That Are Worth Your Money To what degree it's impacted that supply isn't clear. All producers like Vale and Cleveland Cliffs throttle their output to adjust for price fluctuations, but with Vale subdued, rivals like Vale and smaller Ferrexpo may have offered lower prices to secure new customers.Cleveland-Cliffs' Q1 results, however, don't quite jibe with the market price of iron ore and the apparent demand for it.As one would expect with Vale's partial absence, iron ore priced advanced from $76 per tonne before Vale's January accident to $93 per tonne now. The advance only extends price growth that started to take shape in 2016 though, and if demand was the driver, one couldn't tell it from last quarter's numbers from Clevaland Cliffs. Total volumes of ore pellets sold fell from 1.61 million tonnes for the comparable quarter a year earlier to only 1.55 million tonnes for the three-month stretch ending in March.Cleveland Cliffs didn't enjoy much of iron's price growth either. While volume was down, revenue was as well, falling nearly 13% from $180 million to $157 million.The Q1 numbers weren't the problem, though. It was the comparison figures from a year earlier that were unfairly high. Iron Ore Market to Remain RobustWhile consumption of ore pellets isn't terribly seasonal, the industry's capacity to ship it is. This is particularly true of Cleveland Cliffs, which relies heavily on access to access to locks and causeways that facilitate deliveries to its customers in the lower Great Lakes. An abnormally cold and lengthy winter season this year shut down water-based shipping in that region for longer than it may normally have been halted.Cleveland Cliffs was also a victim of unfortunate timing.CFO Keith Koci explained during the first-quarter conference call: "During last year's first quarter, because the AMM hot-rolled coil price rose from $653 to $860 per short ton from the beginning to the end of the quarter. We had an enormous favorable revaluation adjustment. With HRC prices remaining relatively flat during this year's first quarter, we had no such adjustment at this time, explaining the year-over-year decline in revenue rate."AK Steel (NYSE:AKS) confirmed the stagnation of hot rolled coiled steel prices with its recently quarterly report, but dialed back its profit outlook on the likelihood that HRC prices will remain suppressed through the end of the year.Bank of America recently downgraded U.S. Steel (NYSE:X) on a similar concern.There's a disconnect between finished steel and iron ore right now. The supply of iron feeding steel mills remains tight enough to lay the groundwork for more strength ahead.The evidence in plentiful. Case(s) in point: China's demand for iron ore grew for a fifth straight month in April. A recent World Bank report suggested iron ore prices would rise another 11% this year, fueled by disruptions not just with Vale's mines, but with mines operated in Australia by BHP Group (NYSE:BHP) and Rio Tinto (NYSE:RIO). And Ferrexpo recently predicted the seaborne ore pellet market would be short of demand this year between five million and ten million tonnes. Looking Ahead for CLF StockIt's this backdrop that quelled the knee-jerk selling to Cleveland Cliffs' first-quarter report. And, it's this undertow that's kept CLF stock on the cusp of a rally that's been brewing -- but on hold -- for months. Few traders are willing to the ones to stick their neck out first, but there are plenty of traders willing to follow someone else's lead.Bolstering the bullish case is a forward-looking price-to-earnings ratio of 7.1 -- a valuation that suggests investors have priced in a worst-case scenario, and then some. An ongoing tariff battle is at least partially to blame for the pessimism. * 7 Stocks That Are Soaring This Earnings Season Even if those tariffs remain in place in perpetuity, though, there's room and reason for gains. The trick is just getting enough traders to give Cleveland Cliffs stock the right nudge. Breaking above the upper boundary of the channel that's been in place 2016 is the key, though there's room for a decent gain between here and there. Click to EnlargeAs of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about James at his site, jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 7 A-Rated Stocks That Are Under $10 * 7 Stocks That Are Soaring This Earnings Season * 5 Biotech Stocks for a Long-Lived Portfolio * 10 Times Apple's Hardware Failed Consumers -- And Hurt Its Business Compare Brokers The post Add Cleveland Cliffs to Your Watchlist, If Not Yet Your Portfolio appeared first on InvestorPlace.
Coal is widely used across the globe as a source of electricity. Find out how efforts to use cleaner energy sources are affecting the top coal stocks in 2019.
With European markets closed for the May Day holiday, the FTSE 100 in London was higher though trading volume was light. How did markets perform? The U.K.’s FTSE 100 (UK:UKX) rose 0.2% to 7,431.2, making up part of Tuesday’s 0.
BP's plate is full following its acquisition last year of BHP Billiton's shale oil and gas assets, says CEO Bob Dudley. Chevron's battle with Occidental Petroleum to take control of Anadarko Petroleum is fueling speculation about more U.S. oil and gas deal-making. Dudley expects drillers to continue swapping land to optimize operations in the Permian Basin, the top U.S. shale region.
Freeport-McMoRan: What to Expect after Last Week’s Sell-OffFreeport-McMoRan Freeport-McMoRan (FCX), the leading US-based copper miner (XME), saw a selling spree after its first-quarter earnings were released. The company missed the mark on most of
Natural gas prices have seen some volatility over the past few months, bouncing between highs near $3.00 per million British thermal units (MMBtu) and lows just above $2.50. The commodity currently trades at roughly $2.
What’s in the Cards for Cleveland-Cliffs’ Q1 Results?(Continued from Prior Part)Vale’s dam burst On January 25, a major disaster struck Vale (VALE) when a dam ruptured at one of its mines in Brazil (EWZ). More than 300 people died when the
What’s in the Cards for Cleveland-Cliffs’ Q1 Results?(Continued from Prior Part)Realized revenues In addition to volumes, realized revenues are among the most important components that drive a commodity company’s top line. Sign up for Bagels
Iron Ore Prices Could Be Supported after Vale’s Mine Restart(Continued from Prior Part)Iron ore prices fall Iron ore prices took a major step up after supply disruptions from Vale (VALE) became evident. Read Is the Party Just Getting Started for
Rising steel prices and government props for the China economy helped boost the country's steel output in the first quarter.
London markets were marginally lower as mining giant BHP Group PLC followed rivals in cutting iron ore production guidance. How did markets perform? The U.K.’s FTSE 100 (UK:UKX) fell 0.1% to 7,459.1. It had risen 0.
If you aren't already betting on metals and mining stocks, you ought to consider doing so now. The sector faces "a 'Goldilocks' backdrop," states a recent report from British bank Barclays, which cites dovish interest rate policy from the Federal Reserve, improving economic conditions in China, and positive U.S.-China progress on trade. were recently up 24% and 38%, respectively, so far this year according to Morningstar. Both produce iron ore as well as other industrial metals.