|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||49.02 - 49.56|
|52 Week Range||35.03 - 51.91|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.55%|
Can 1Q18 Pave the Way for Cleveland-Cliffs Stock to Re-Rate? Let’s use EV-to-forward EBITDA (enterprise value to earnings before interest, tax, depreciation, and amortization) to value Cleveland-Cliffs (CLF) in relation to its peers and its historical multiples. Among Cliffs’ US steel peers, U.S. Steel Corporation (X) is trading at the lowest forward multiple of 4.5x, while Nucor (NUE) is trading at the highest multiple of 6.9x.
Can 1Q18 Pave the Way for Cleveland-Cliffs Stock to Re-Rate? Cleveland-Cliffs (CLF) has accumulated debt over a number of years. In this context, we’ll discuss Cleveland-Cliffs’ ability to generate FCF (free cash flow).
Can 1Q18 Pave the Way for Cleveland-Cliffs Stock to Re-Rate? Although investors are still concerned about Cleveland-Cliffs’ (CLF) debt, it’s come a long way with respect to its debt levels. Following the company’s change in management in 2014 and its focus on debt reduction as the utmost priority, investors’ concerns have been allayed somewhat.
Can 1Q18 Pave the Way for Cleveland-Cliffs Stock to Re-Rate? Wall Street analysts expect Cleveland-Cliffs (CLF) to generate revenue of $200 million in 1Q18, which implies a fall of 57% YoY (year-over-year). This expectation resulted from the company’s guidance of only 1.0 million tons of sales volumes from its US division in 1Q18 compared to 3.1 million tons in 1Q17.
Can 1Q18 Pave the Way for Cleveland-Cliffs Stock to Re-Rate? Realized prices also help assess the market sentiment, as they’re derived from existing market prices. Cleveland-Cliffs’ (CLF) realized prices came in at an average of $83.4 per ton in 4Q17, a rise of 13% YoY (year-over-year).
Can 1Q18 Pave the Way for Cleveland-Cliffs Stock to Re-Rate? Cleveland-Cliffs (CLF) achieved US volumes of ~5.4 million tons in 4Q17. Its volumes in the latest quarter reflect a YoY (year-over-year) fall of 22%. An above-average pace of shipping during the first nine months of 2017 and a previously highlighted reduction of pellet nominations by a customer reduced its volumes in 4Q17.
In FOMC meeting minutes, a staff review of the economic situation is presented to the FOMC members. In the March meeting minutes, the FOMC staff review of the economy was stronger than the review presented at the January meeting. The short-term real GDP growth expectation was revised lower due to softness in recent economic data. The medium and long-term projections for economic growth were revised higher due to the expected positive impact of the recent federal budget and tax cuts. US unemployment is expected to remain below the longer-run natural rate. ...
The VanEck Vectors Steel ETF (NYSEArca: SLX) rallied earlier this year after the White House unveiled tariffs aimed at helping U.S. steelmakers, but the steel ETF has since given back all those gains after ...
Could Toned-Down Tariffs Help Cleveland Cliffs in 2018? Steel prices are the major driver of steelmakers’ earnings and revenues. According to Platts, in 2017, US steel prices rose 17.5% on average compared to 2016.
Could Toned-Down Tariffs Help Cleveland Cliffs in 2018? The US iron ore segment contributes the majority of Cleveland-Cliffs’s (CLF) revenues and earnings. Cliffs investors track imports data, which directly impact Cliffs’s customers (SLX) such as AK Steel (AKS) and ArcelorMittal (MT).
The SPDR Gold Shares (NYSEArca: GLD), iShares Gold Trust (NYSEArca: IAU) and other gold-backed exchange traded products rallied last week as investors sought safe-haven assets amid fears of trade wars ...
Shares of the VanEck Vectors Steel ETF (NYSEArca: SLX) tumbled Thursday after the White House unveiled a diluted version of its original tariff plan, which previously sparked domestic steelmakers higher. ...
In the week ended March 9, 2018, the S&P 500 index closed at 2,786.57, rising by 2.4% after President Donald Trump turned flexible with his tariffs, allowing concessions for Canada and Mexico. The decision to introduce tariffs unnerved markets and generated resistance from domestic and international trade bodies, and President Trump’s softened stance allayed any fears about a global trade war, resulting in the equity rally on March 8. All the sectors within the S&P 500 Index registered gains last week, with S&P 500 industrials (XLI) gaining close to 4.4% after the concessions for Canadian and Mexican steel (SLX) and aluminum imports were announced.
The latest report from the US Department of Commerce, which was released in December 2017, indicated that the United States is the largest steel importer in the world, and Canada is the largest source of imports of steel and aluminum into the United States. Other countries that are major exporters to the United States are the European Union, South Korea, Mexico, and Brazil.
President Donald Trump believes that the United States can cut all such deals that were made over many decades because all these deals have been disadvantageous to the United States. The problem with this view is that these trade deals were not disadvantageous to the United States. President Trump reasons that the United States can walk away from trade deals and impose tariffs by claiming that the imports being targeted pose a threat to national security.
One of the key reasons for tariffs is to protect domestic industries, jobs, and consumption. Tariffs inflate costs for consumers and protect inefficient domestic companies from global competition. Consumers could be forced to purchase expensive steel from US producers to avoid a 25% tariff, but domestically produced steel could be more expensive than global steel.