Opinions
Jim Cramer - Mad Money
Cleveland-Cliffs Inc.
CLF-N
BUY ON WEAKNESS
Aug 12, 2024
Stock price when the opinion was issued
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Arcelormittal usa is part of arcelormittal, the world’s leading steel and mining company. guided by a philosophy to produce safe, sustainable steel, we are a leading supplier of quality steel products in major north american markets including automotive, construction, pipe and tube, appliance, container and machinery. arcelormittal usa employs more than 20,000 people at 27 operations across 13 of the united states. we aim to give our employees every chance to flourish in their careers and grow as part of a global company. we offer a wealth of diverse opportunities. whether you work in production in pennsylvania or as a purchaser in indiana, joining arcelormittal is the start of a journey that, we hope, will lead to a rewarding career. we are always looking for the best and brightest minds to help us transform the future of steel. Social media mentions are up 900% in the past 24h.
At a 52-week low today, but he hasn't and won't sell any shares. It looks like steel prices have bottomed--and shouldn't have fallen this far. Their M&A activity is also pressuring shares. Also, the Nippon Steel deal will be blocked; the US Steel deal was botched from the start. Hang onto it--it's below book value. Their M&A will add value. It isn't just a cyclical play.
Cleveland-Cliffs has proven its commitment to not just preserve, but to grow good middle-class, union manufacturing jobs. We continue to fight for our steel industry, our company, our shareholders, and our workers. As we grow, we retain our strong commitment to maintaining a safe work environment for our 30,000 employees. Social media mentions are up 45% in the past 24h.
If you're in a trade war and the world is slowing, commodity stocks (precious metals, steel-oriented) probably get weaker. That's the period we're in now. Probably a buy sometime soon, when we start thinking about recovery on the other end of this. Too early right now to dip a toe.
Pretty good company, one to play at some point.
He bought more. Has great faith in management who will turn things around, though it will take time. Steel prices have risen, but CLF has to wait for their existing contracts to end before they can raise their prices. Also, given tariffs, demand from the car industry here should increase with higher volumes.
It hit a 52-week low today, but people will be kicking themselves for not owning this, because this will rally when interest rates decline.