|Bid||0.00 x 38800|
|Ask||0.00 x 900|
|Day's Range||8.33 - 8.73|
|52 Week Range||5.60 - 9.15|
|PE Ratio (TTM)||8.38|
|Earnings Date||Jul 25, 2018 - Jul 30, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||9.44|
According to the AISI (American Iron and Steel Institute), US steel production rose 0.3% YoY (year-over-year) in the week ended June 9. Although US steel production has gained traction over the last couple of months, it has risen only 1.8% YoY so far this year. The US steel industry’s capacity utilization rate is also languishing at 74.8%—way below the 80% utilization rate the Commerce Department intends to achieve with the Section 232 tariffs.
LONDON, UK / ACCESSWIRE / June 14, 2018 / If you want access to our free research report on Cleveland-Cliffs Inc. (NYSE: CLF), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=CLF as the Company's latest news hit the wire. On June 12, 2018, the Company disclosed that it has signed an agreement with Australian mining services Company, Mineral Resources Ltd, to divest substantially all of the assets of its Australian Iron Ore business. Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you.
After touching $32 in February, shares of United States Steel Corporation (NYSE:X) were over $45 just a few weeks later. For 2019, analysts are looking for earnings to grow about 6% to $5.37-per-share.
Pre-market today, WallStEquities.com has selected the following stocks for observation: BHP Billiton Ltd (NYSE: BHP), Cameco Corp. (NYSE: CCJ), Cleveland-Cliffs Inc. (NYSE: CLF), and Cloud Peak Energy Inc. (NYSE: CLD). Melbourne, Australia headquartered BHP Billiton Ltd's shares saw a decline of 1.33%, finishing Tuesday's trading session at $51.14.
Cleveland-Cliffs Inc. (CLF) is pleased to announce today that it has entered into a definitive agreement for the sale of substantially all of the assets of its Asia Pacific Iron Ore business to Mineral Resources Limited, a leading Australian mining services company with a portfolio of existing mining operations across multiple commodities, including iron ore. As a result of the transaction, Cliffs’ previously disclosed costs of closing the Australian operations are expected to be reduced by approximately $65-75 million based on Mineral Resources assuming certain obligations and Cliffs reaching negotiated settlements with other third parties. The transaction is supported by the Western Australian government.
According to Thomson Reuters, 55% of the analysts covering Cleveland-Cliffs (CLF) recommend “buy,” while 45% recommend “hold.” Its target price of $9.44 implies an upside of 11% based on its current market price. Among steel peers (SLX), ArcelorMittal (MT) has the most “buy” ratings from analysts covering it (86%), followed by Steel Dynamics (STLD) at 73%, U.S. Steel Corporation (X) at 63%, and Nucor (NUE) at 63%. AK Steel (AKS) had the lowest percentage of “buy”‘ ratings, at 33%.
In this article, we’ll look at China’s iron ore port inventories and what they suggest for iron ore prices. These inventories reflect the difference between demand and supply. Usually, if iron ore isn’t used up by steel mills, it piles up at ports. Therefore, increasing inventories reflect weak demand, and vice versa.
Investors in Cleveland-Cliffs (CLF) need to pay close attention to the stock based on moves in the options market lately.
Vale’s CFO, Luciano Siani Pires, said during Vale Day on December 6 that the company deserves a rerating of its valuation. Diversified miners (GNR) Rio Tinto (RIO) and BHP Billiton (BHP) are trading at similar multiples of 6.3x and 6.6x, respectively.
Vales (VALE) stock has seen a significant shift in ratings over the last few months. Most of the recent analyst ratings, however, point to negative sentiment among analysts. This sentiment contrasts sharply to eight analyst upgrades for the stock in 2017. Analysts were positive about the company’s deleveraging policy, which has now been mostly priced into the stock.
Zacks.com featured highlights include: Lindblad, Cleveland-Cliffs, Marine Products, IRadimed and ChannelAdvisor
Vale (VALE) considerably reduced its net debt in 2017. At the end of 2017, its net debt totaled $18.1 billion, a decline of ~28% year-over-year. The company was guiding for net debt of $15.0 billion–$17.0 billion by the end of 2017. In the latest quarter, the company recorded another reduction of $3.2 billion in net debt to reach $14.9 billion. The debt decline during the quarter was supported by the sale of its fertilizer assets to Mosaic for $3.7 billion.
Is a Valuation Rerating in the Cards for Vale Stock? The EBITDA for the ferrous division was almost in line with the previous quarter despite seasonally lower volumes, mainly due to higher premiums and the net effect of the 13% increase in the benchmark iron ore index. Vale’s free-on-board (or FOB) cost per ton for iron ore fines was $14.8 per ton in the first quarter, in line with 4Q17.
In order to identify breakout stocks, you must first determine their resistance and support levels. A resistance level is the barrier which must be broken so as to be identified as a breakout stock. Meanwhile, a support level is the floor for the stock’s movement.
Zacks.com featured highlights include: United States Steel, Cleveland-Cliffs, KB Home and Banco Bilbao
The US-China trade war has created turmoil in the equity markets this year. While downward pressure in index heavyweights such as Facebook (FB) and Amazon (AMZN) pushed markets lower, macroeconomic factors also played a part. In general, rising bond yields are negative for equity markets.
In this final part of the series, we’ll see how the markets are valuing Cleveland-Cliffs (CLF) stock compared to its peers and the historical multiple.
Revenue estimates have gone up: More upside? As we’ve already seen in this series, Cleveland-Cliffs (CLF) has outperformed its own expectations in terms of sales volumes and realized prices for the US iron ore division in the first quarter. Cliffs has also reiterated its strong outlook for pricing going forward, notwithstanding the impact of Section 232, as the demand outlook remains strong.
Cleveland-Cliffs (CLF) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Currently, ten analysts covering Cleveland-Cliffs (CLF) stock are divided equally among “buy” and “hold” recommendations. CLF’s target price of $9.40 implies an upside of 10.2% compared to its current market price. Among its steel peers (SLX), ArcelorMittal (MT) has the highest “buy” ratings at 86%, followed by 73% for Steel Dynamics (STLD), 63% for U.S. Steel Corporation (X), and 63% for Nucor (NUE). AK Steel (AKS) has the lowest “buy” ratings at 33%.
Cleveland-Cliffs (CLF) stock has been on a roller coaster ride for most of 2018. While CLF stock has seen a lot of volatility in 2018, it’s making a strong upward move in the second quarter on strong fundamentals.