Previous close | 22.13 |
Open | 22.29 |
Bid | 22.64 x 1000 |
Ask | 22.65 x 1200 |
Day's range | 22.25 - 22.70 |
52-week range | 13.61 - 22.70 |
Volume | |
Avg. volume | 8,813,926 |
Market cap | 11.279B |
Beta (5Y monthly) | 2.01 |
PE ratio (TTM) | 29.02 |
EPS (TTM) | 0.78 |
Earnings date | 22 Apr 2024 - 26 Apr 2024 |
Forward dividend & yield | N/A (N/A) |
Ex-dividend date | 02 Apr 2020 |
1y target est | 19.48 |
Cleveland-Cliffs stock was rising Thursday after a GLJ Research analyst double upgraded the shares, calling the steel stock a “defensive play” in a high interest rate environment. Gordon Johnson upgraded shares of Cleveland-Cliffs to Buy from Sell with a $27.20 price target, which implies a 23% increase from the stock’s closing price on Wednesday. Johnson wrote in a research note Thursday that he believes interest rates are actually headed higher “as bond market investors demand higher yields to compensate for what we believe will be much higher than expected inflation.”
Cleveland-Cliffs (CLF) will replace its existing blast furnace at its Middletown Works Facility in Middletown with a 2.5mtpa Hydrogen-Ready DRI Plant and two 120 MW EMF.
CLEVELAND, March 27, 2024--Cleveland-Cliffs Inc. (NYSE: CLF) today announced that it is increasing current spot market base prices by $60 per net ton for all carbon hot rolled, cold rolled and coated steel products, effective immediately with all new orders. Cliffs’ minimum base price for hot rolled steel is now $900 per net ton.