CLF made a deal today to buy Ferrous Processing. CLF has been turbulent, but its long-term trend remains intact. This deal secures a source of scarp metal for CC, which they can turn into steel--so this is a strategically important deal. This is the future of steel--of making steel out of scrap metal using electric furnaces. Steel is pricey and will come down eventually, but CLF is making money hand over fist, beacuse they buy cheap raw materials, but sell expensive end products. Also, CLF is delevering. Watch for their free cash flow when they report in a few weeks.
He's buying this week's dip including Facebook, Skyworks and Cleveland Cliffs. He holds 35% cash. Some stocks he bought were down 20% this week, far below Monday's dip. Copper prices will remain stable. However, steel prices are so high, so Cleveland Cliffs is merely a short-term buy and he's looking for an exit if prices partially recover.
Cleveland-Cliffs Inc. is a American stock, trading under the symbol CLF-N on the New York Stock Exchange (CLF). It is usually referred to as NYSE:CLF or CLF-N
In the last year, 16 stock analysts published opinions about CLF-N. 12 analysts recommended to BUY the stock. 3 analysts recommended to SELL the stock. The latest stock analyst recommendation is . Read the latest stock experts' ratings for Cleveland-Cliffs Inc..
Cleveland-Cliffs Inc. was recommended as a Top Pick by on . Read the latest stock experts ratings for Cleveland-Cliffs Inc..
Earnings reports or recent company news can cause the stock price to drop. Read stock experts’ recommendations for help on deciding if you should buy, sell or hold the stock.
16 stock analysts on Stockchase covered Cleveland-Cliffs Inc. In the last year. It is a trending stock that is worth watching.
On 2022-05-24, Cleveland-Cliffs Inc. (CLF-N) stock closed at a price of $22.62.