Profile
Sector:
Basic MaterialsIndustry:
Steel & IronCountry:
United StatesIPO:
05 November 1987Website:
http://www.clevelandcliffs.comNext earnings report:
29 January 2025Last dividends:
02 April 2020Next dividends:
N/APrice
regular market | 1 min agoDividend
Analysts recommendations
Institutional Ownership
CLF Latest News
Cleveland-Cliffs Inc. remains a "Buy" despite recent declines, driven by long-term growth potential, strategic focus, and attractive valuation. The company's Q3 2024 performance was weak due to automotive industry struggles, but the Stelco acquisition is expected to enhance EBITDA margins and operational flexibility. Management's conservative capital spending and cost-saving initiatives position CLF well for future growth, with a focus on debt reduction and strategic investments.
Although the revenue and EPS for Cleveland-Cliffs (CLF) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Cleveland-Cliffs Inc. (NYSE:CLF) shares slipped more than 10% after its latest quarterly earnings highlighted pressures in the steel market. During the third quarter of 2024, the company saw a decline in EBITDA, increased net debt, and a reduction in capital expenditure plans amid challenging conditions in the automotive sector.
The auto sector is hurting Cleveland-Cliffs right now.
Cleveland-Cliffs Inc. (NYSE:CLF ) Q3 2024 Earnings Conference Call November 4, 2024 8:30 AM ET Company Participants Lourenco Goncalves - Chairman, President & CEO Celso Goncalves - EVP & CFO Conference Call Participants Lucas Pipes - B. Riley Securities Lawson Winder - Bank of America Carlos De Alba - Morgan Stanley William Peterson - JPMorgan Alexander Hacking - Citigroup Chris LaFemina - Jefferies Philip Gibbs - KeyBanc Capital Markets Operator Good morning, ladies and gentlemen.
Cleveland-Cliffs Chairman and CEO Lourenco Goncalves joins CNBC's Morgan Brennan to discuss the company's newly closed $2.8 billion acquisition of Canadian steelmaker Stelco, the strategic importance of North American manufacturing, and his views on steel tariffs and Chinese competition. Goncalves also shares insights on automotive industry relationships and his outlook for 2025, while addressing the ongoing US Steel-Nippon deal review.
Cleveland-Cliffs (CLF) reachead $13.72 at the closing of the latest trading day, reflecting a +0.37% change compared to its last close.
Cleveland-Cliffs, a vertically integrated steel mill operator, has seen its stock decline by more than 30% in the last six months. This fall has been primarily due to the adverse business conditions that the industry is going through.
Cleveland-Cliffs (CLF) reachead $13.46 at the closing of the latest trading day, reflecting a -1.32% change compared to its last close.
Cleveland-Cliffs (CLF) closed the most recent trading day at $12.88, moving -1.3% from the previous trading session.
What type of business is Cleveland-Cliffs?
Cleveland-Cliffs Inc. is an American mining company founded in 1846. The company is engaged in the extraction of minerals and natural resources. It is a supplier of iron ore pellets to steel mills in North America from its mines and pellet plants located in Michigan and Minnesota. The company operates in the American iron ore segment. Cleveland-Cliffs Inc. is a producer of iron ore pellets, primarily selling its products to integrated steel mills in the United States, Canada, and Mexico. Cleveland-Cliffs Inc. was founded in 1847 and is headquartered in Cleveland, Ohio.
What sector is Cleveland-Cliffs in?
Cleveland-Cliffs is in the Basic Materials sector
What industry is Cleveland-Cliffs in?
Cleveland-Cliffs is in the Steel & Iron industry
What country is Cleveland-Cliffs from?
Cleveland-Cliffs is headquartered in United States
When did Cleveland-Cliffs go public?
Cleveland-Cliffs initial public offering (IPO) was on 05 November 1987
What is Cleveland-Cliffs website?
https://www.clevelandcliffs.com
Is Cleveland-Cliffs in the S&P 500?
No, Cleveland-Cliffs is not included in the S&P 500 index
Is Cleveland-Cliffs in the NASDAQ 100?
No, Cleveland-Cliffs is not included in the NASDAQ 100 index
Is Cleveland-Cliffs in the Dow Jones?
No, Cleveland-Cliffs is not included in the Dow Jones index
When was Cleveland-Cliffs the previous earnings report?
No data
When does Cleveland-Cliffs earnings report?
The next expected earnings date for Cleveland-Cliffs is 29 January 2025