|Bid||0.00 x 800|
|Ask||0.00 x 800|
|Day's Range||39.54 - 40.22|
|52 Week Range||33.66 - 51.92|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||1.58|
|Expense Ratio (net)||0.56%|
Q4 Earnings: Why Cleveland-Cliffs’ Upside Could Be Far from Over(Continued from Prior Part)Realized prices for mining and pelletizing Cleveland-Cliffs’ (CLF) Mining and Pelletizing (or M&P) segment’s realized revenues are influenced by
What’s in the Cards for Cleveland-Cliffs' Q4 Results?(Continued from Prior Part)Realized revenues Along with volumes, realized revenues are among the most important components that drive a commodity company’s top line. Realized prices also help
Analysts Are Turning Positive on CLF ahead of Its 2018 Results(Continued from Prior Part)Financial leverageCleveland-Cliffs (CLF) has come a long way with respect to its debt levels. Its debt spiraled due to acquisitions at the peak of the cycle.
The steel sector and related ETF broke down after Vale SA (NYSE: VALE) suspended dividends following a dam breach that left 60 dead and 292 missing in Brazil. The VanEck Vectors Steel ETF (NYSEArca: SLX), ...
Shares of AK Steel Holding Corp. dropped 3.9% in afternoon trade Monday, after Morgan Stanley downgraded the steel maker, citing concerns over pricing. Analyst Piyush Sood cut his rating to equal weight from overweight, and slashed his price target to $3 from $5. Previously, Sood said he was expecting higher annual auto contract pricing resets, but with auto sales peaking and increased steel sheet supply, original equipment manufacturers have "likely gained the upper hand" in negotiations. Separately, Sood upgraded U.S. Steel Corp. to equal weight from underweight, citing expected limited downside as the stock price has "sufficiently priced in" pricing concerns. The stock slipped 0.4% in afternoon trade, while the VanEck Vectors Steel ETF fell 2.8%. Earlier Monday, President Trump tweeted that tariffs on steel imports "have totally revived our steel industry." The steel ETF has tumbled 26% over the past 12 months, while the S&P 500 has lost 8.2%.
Why Now Might Be a Good Time to Look Again at Cleveland Cliffs(Continued from Prior Part)Steel demand In the US steel sector, demand for steel drives US steelmakers’ (SLX) revenues. As a result, investors who are interested in Cleveland-Cliffs (CLF) will likely want to track US steel demand.
VanEck announced today preliminary yearend distribution estimates for its VanEck Vectors® equity exchange-traded funds.
In the final article of this series, we’ll look at Cleveland-Cliffs’ (CLF) valuation and compare it to those of its US steel peers (SLX). Among US (SPY) steel stocks (XME), U.S. Steel Corporation (X) and ArcelorMittal (MT) are trading at the lowest forward EV-to-EBITDA multiples of 3.06x and 3.65x, respectively. Cleveland-Cliffs, on the other hand, is trading at the highest multiple of 5.9x.
In the US steel sector, demand for steel drives US steelmakers’ (SLX) revenues. As a result, investors who are interested in Cleveland-Cliffs (CLF) will likely want to track US steel demand.
Cleveland-Cliffs (CLF) has come a long way with respect to its debt levels. The company’s change in management in 2014 and its focus on debt reduction have somewhat allayed investors’ concerns. During the Q2 2018 earnings call, Cleveland-Cliffs maintained that bringing its net debt below $1 billion is its second priority, after the focus on the HBI (hot-briquetted iron) plant.
Wall Street analysts expect Cleveland-Cliffs (CLF) to generate revenue of $731 million in the third quarter, which implies a rise of 4.7% YoY (year-over-year). This expectation is the result of the company’s guidance for higher volumes along with higher spot HRC (hot-rolled coil) prices prevailing in the market compared to last year’s corresponding period. As we discussed earlier in this series, CLF expects higher volumes in the third quarter.
The VanEck Vectors Steel ETF (NYSEArca: SLX) was mostly steady Monday even after a major Wall Street bank downgraded domestic steel stocks, citing supply concerns. “Credit Suisse on Monday downgraded the ...
US steel production is the key factor that drives US steelmakers’ (SLX)(XME) revenues. Investors track production data to get a sense of the direction of overall volumes. AK Steel (AKS) and ArcelorMittal (MT) are among Cleveland-Cliffs’ (CLF) key customers.
Today, Jefferies analyst Seth Rosenelf raised the target price for Cleveland-Cliffs (CLF) from $11 to $13 while maintaining a “buy” rating on the stock. Cleveland-Cliffs stock has seen a turn in fortunes, as far as analyst sentiment is concerned, since March.
According to Thomson Reuters, 73.0% of the analysts covering Cleveland-Cliffs (CLF) stock recommend a “buy,” 27.0% recommend a “hold,” and there were no “sell” ratings. CLF’s target price of $11.90 implies an upside of 21.0% based on its current market price. At the end of March, Cleveland-Cliffs had “buy” ratings from only 30.0% of the analysts.
In this article, we’ll look at Cleveland-Cliffs’ (CLF) valuation and compare it to those of its US steel peers (SLX). We’ll also look at its forward EV-to-EBITDA (enterprise value-to-EBITDA) and PE multiples.
US steel production is the key variable that drives US steelmakers’ (SLX) (XME) revenues. AK Steel (AKS) and ArcelorMittal (MT) are Cleveland-Cliffs’ (CLF) customers. Investors track production data to get a sense of the direction of overall volumes.
Stocks (^DJI, ^GSPC, ^IXIC) are up with the energy (XLE) sector the most in the green, and the utlities (XLU) sector the most in the red. Yahoo Finance’s Jared Blikre joins us live from the floor of the New York Stock Exchange to talk markets. To discuss the other big stories of the day, Yahoo Finance’s Dion Rabouin is joined by Dan Roberts, and Yahoo Finance tech reviewer Dan Howley.
The VanEck Vectors Steel ETF (SLX) is off 7.5% over the past month as steel and iron stocks have struggled amid tariffs and trade war speculation. After the March tariff on steel imports, the Trump administration expanded them on June 1 by removing temporary country exemptions for members of the European Union, Canada and Mexico. However, some analysts believe iron and steel equities are poised to bounce back. “First it was fear of tariffs and a trade war that hurt the metals and mining sector, and then Turkey's troubles burst onto the world stage, weighing on emerging markets. However, these worries have created a buying opportunity, argues Credit Suisse's Curt Woodworth,” reports Teresa Rivas for Barron's.
Cleveland-Cliffs’s (CLF) CFO Tim Flanagan mentioned during the Q2 2018 earnings call that the company is expected to generate $400 million of free cash flow (or FCF) in the second half of 2018. As a result, the favorable working capital release will lead the company to generate ~$400 million of FCF in the second half of the year after all expenditures, including capital expenditure on its HBI (hot-briquetted iron) plant. CLF recorded $2 million in income tax benefits in Q2 2018 related to the reversal for uncertain tax positions.
Veronique de Rugy, Mercatus Center, and Beth Baltzan, American Phoenix, discuss trade and the impact tariffs are likely to have on the US & Chinese economies.