Cleveland-CliffsCLF
Market Cap: $5.34B
About: Cleveland-Cliffs Inc is a flat-rolled steel producer and manufacturer of iron ore pellets in North America. It is organized into four operating segments based on differentiated products, Steelmaking, Tubular, Tooling and Stamping and European Operations, but operates through one reportable segment -Steelmaking. It is vertically integrated from mined raw materials, direct reduced iron, and ferrous scrap to primary steelmaking and downstream finishing, stamping, tooling and tubing. It serves a diverse range of other markets due to its comprehensive offering of flat-rolled steel products. Geographically, it operates in the United States, Canada and other countries. The majority of revenue is from the United States. It is a supplier of steel to the automotive industry in North America.
Employees: 28,000
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
56% more call options, than puts
Call options by funds: $509M | Put options by funds: $327M
5.33% more ownership
Funds ownership: 65.79% [Q1] → 71.11% (+5.33%) [Q2]
4% less funds holding
Funds holding: 625 [Q1] → 601 (-24) [Q2]
17% less repeat investments, than reductions
Existing positions increased: 183 | Existing positions reduced: 221
21% less first-time investments, than exits
New positions opened: 90 | Existing positions closed: 114
30% less capital invested
Capital invested by funds: $7.44B [Q1] → $5.21B (-$2.23B) [Q2]
60% less funds holding in top 10
Funds holding in top 10: 15 [Q1] → 6 (-9) [Q2]
Research analyst outlook
6 Wall Street Analysts provided 1 year price targets over the past 3 months
6 analyst ratings
Seaport Global Martin Englert 67% 1-year accuracy 2 / 3 met price target | 45%upside $16.50 | Buy Upgraded | 27 Aug 2024 |
Morgan Stanley Carlos De Alba 31% 1-year accuracy 8 / 26 met price target | 32%upside $15 | Equal-Weight Maintained | 15 Aug 2024 |
B of A Securities Lawson Winder 42% 1-year accuracy 5 / 12 met price target | 58%upside $18 | Neutral Maintained | 26 Jun 2024 |
B. Riley Securities Lucas Pipes 37% 1-year accuracy 23 / 63 met price target | 102%upside $23 | Buy Maintained | 25 Jun 2024 |
GLJ Research Gordon Johnson 65% 1-year accuracy 15 / 23 met price target | 11%downside $10.13 | Sell Reiterated | 14 Jun 2024 |
Financial journalist opinion
Based on 16 articles about CLF published over the past 30 days