|Bid||9.29 x 800|
|Ask||0.00 x 27000|
|Day's Range||9.22 - 9.59|
|52 Week Range||7.40 - 13.10|
|Beta (3Y Monthly)||2.61|
|PE Ratio (TTM)||2.36|
|Earnings Date||Jul 18, 2019 - Jul 22, 2019|
|Forward Dividend & Yield||0.20 (2.00%)|
|1y Target Est||13.32|
Cleveland-Cliffs Inc NYSE:CLFView full report here! Summary * Bearish sentiment is high * Economic output in this company's sector is expanding Bearish sentimentShort interest | NegativeShort interest is extremely high for CLF with more than 20% of shares on loan. This means that investors who seek to profit from falling equity prices are currently targeting CLF. Money flowETF/Index ownership | NeutralETF activity is neutral. ETFs that hold CLF had net inflows of $1.26 billion over the last one-month. While these are not among the highest inflows of the last year, the rate of inflow is increasing. Economic sentimentPMI by IHS Markit | PositiveAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Basic Materials sector is rising. The rate of growth is weak relative to the trend shown over the past year, but is accelerating. Credit worthinessCredit default swapCDS data is not available for this security.Please send all inquiries related to the report to email@example.com.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
Throughout the U.S.-China trade war, we have witnessed steel prices continue to weaken, while iron ore prices have surprisingly rallied on a global supply crunch that has seen prices rise to the highest level since 2014. Sanford C. Bernstein & Co. is predicting that the world's best miners including Vale S.A. (VALE) will deliver approximately 283 million tons this quarter, a 10% decrease on the year. Iron ore's shortfall will likely continue to support miners including Fortescue Metals Group Limited (FSUGY), Cleveland-Cliffs Inc. (CLF) and Anglo American PLC's (NGLOY) Kumba Iron Ore Ltd. The last surge in iron ore prices stemmed from a fall in port holdings in China, which have now fallen to a two-year low. While the shortfall could see supply return in the latter half of the year, in the short term, iron ore prices could be supported.
Cleveland-Cliffs Inc. (CLF) (the “Company”) announced today the early results of its previously announced offer to purchase for cash (the “Tender Offer”) up to $600 million aggregate principal amount (the “Maximum Amount”) of its outstanding 5.75% Senior Guaranteed Notes due 2025 (the “Notes”), subject to the terms and conditions set forth in the Company’s Offer to Purchase dated April 29, 2019 (the “Offer to Purchase”), including the Financing Condition, as defined therein. The Company expects the Financing Condition to be satisfied on May 13, 2019. According to information received from Global Bondholder Services Corporation, the Depositary and Information Agent for the Tender Offer, as of 5:00 p.m., New York City time, on May 10, 2019 (the “Early Tender Date”), $810,553,000 aggregate principal amount of the Notes had been validly tendered and not withdrawn pursuant to the Tender Offer.
Vale’s Production Loss Has Become Its Peers' Gain—Here’s HowVale’s first-quarter productionVale (VALE) published its first-quarter production report on May 8. With the release of the report, the company’s shipment data have become much
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What Could Have Prompted Trump’s Sudden Tariff Hike Decision(Continued from Prior Part)MinersDonald Trump has stepped up his trade rhetoric by hiking up the tariff on $200 billion in Chinese goods to 25%. He has also threatened a 25% tariff on
The winter months are always slow for the iron ore producer, so the sharp drop in profitability shouldn't come as a surprise.
Trump Likes Steel Companies’ Investments, but Markets Don’tU.S. Steel Corporation Today, U.S. Steel Corporation (X) announced a $1.2 billion investment toward casting and rolling facilities at Mon Valley Works and cogeneration facilities at its
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.
U.S. Steel: Q1 Earnings Might Revive Investors' SentimentsU.S. Steel CorporationU.S. Steel Corporation (X) is scheduled to release its first-quarter earnings on May 2 after the markets close. The company will hold its earnings call the next day.
How Cleveland-Cliffs Is Looking after Its Q1 2019 Results(Continued from Prior Part)Significant turnaroundSince Cleveland-Cliffs’ (CLF) new management took over in August 2014, the company has turned around for the better. After taking care of the
Hedge funds are known to underperform the bull markets but that's not because they are bad at investing. Truth be told, most hedge fund managers and other smaller players within this industry are very smart and skilled investors. Of course, they may also make wrong bets in some instances, but no one knows what the […]
How Cleveland-Cliffs Is Looking after Its Q1 2019 Results(Continued from Prior Part)HBI plantAfter Cleveland-Cliffs’ (CLF) debt repayment concerns were taken care of, the company started refocusing on growth. It is currently building an HBI
How Cleveland-Cliffs Is Looking after Its Q1 2019 Results(Continued from Prior Part)Pellet premiums to soarDuring Cleveland-Cliffs’ Q1 conference call, CEO Lourenco Goncalves said, “Several people directly or indirectly involved with the
Cleveland-Cliffs Inc. (CLF) announced today that it has priced $750 million aggregate principal amount of Senior Notes due 2027 (the “Notes”) in an offering that is exempt from the registration requirements of the Securities Act of 1933 (the “Securities Act”). The Notes will bear interest at an annual rate of 5.875 percent and will be issued at a price of 96.125 percent of their principal amount. The Notes will be guaranteed on a senior unsecured basis by the Company’s material direct and indirect wholly-owned domestic subsidiaries.
How Cleveland-Cliffs Is Looking after Its Q1 2019 Results(Continued from Prior Part)Lower US volumesCleveland-Cliffs’ (CLF) Mining and Pelletizing sales volumes fell in Q1 2019, by 3.8% YoY (year-over-year) to 1.55 million tons, meeting just
How Cleveland-Cliffs Is Looking after Its Q1 2019 Results(Continued from Prior Part)Revenue declineCleveland-Cliffs’ (CLF) revenue fell 12.8% YoY (year-over-year) to $157 million in the first quarter, beating analysts’ expectation of $120.0
Rating Action: Moody's assigns B1 rating to Cliffs proposed gtd sr. unsec. New York, April 29, 2019 -- Moody's Investors Service, ("Moody's") assigned a B1 rating to Cleveland-Cliffs Inc. ("Cliffs") proposed $750 million guaranteed senior unsecured notes due in 2027. The B1 Corporate Family Rating (CFR), B1-PD Probability of Default Rating, SGL-1 speculative grade liquidity rating and all other instrument ratings are unchanged.
U.S. Steel and AK Steel: What to Expect This WeekFirst-quarter earningsWe’re in the middle of the first-quarter earnings season. So far, Nucor (NUE), Steel Dynamics (STLD), and Cleveland-Cliffs (CLF) have reported their first-quarter earnings.
Cleveland-Cliffs Inc. (CLF) announced today the commencement of an offer to purchase for cash (the “Tender Offer”), subject to certain terms and conditions, up to $600 million aggregate principal amount (the “Maximum Amount”) of its outstanding 5.75% Senior Guaranteed Notes due 2025 (the “Notes”). The Tender Offer is being made pursuant to an Offer to Purchase (the “Offer to Purchase”), which set forth a more detailed description of the Tender Offer. Holders of the Notes are urged to carefully read the Offer to Purchase before making any decision with respect to the Tender Offer.
Cleveland-Cliffs Inc. (CLF) today announced that it intends to offer to sell, subject to market and other conditions, $750 million aggregate principal amount of Senior Notes due 2027 (the “Notes”) in an offering that is exempt from the registration requirements of the Securities Act of 1933 (the “Securities Act”). The Notes will be guaranteed on a senior unsecured basis by the Company’s material direct and indirect wholly-owned domestic subsidiaries. The Company intends to use the net proceeds from the offering of the Notes to redeem all of its outstanding 4.875% Senior Notes due 2021, to fund the $600 million tender offer for its 5.75% Senior Guaranteed notes due 2025, including fees and expenses related to the tender offer, and for other general corporate purposes.