Latest news with #ClevelandCliffs
Yahoo
2 days ago
- Business
- Yahoo
Why Cleveland-Cliffs Stock Popped by Nearly 21% This Week
Key Points The company notched a double beat in its second quarter. This, despite erosion on both the top and bottom lines. 10 stocks we like better than Cleveland-Cliffs › One of the better-performing industrial stocks over the past few days has been storied steel maker Cleveland-Cliffs (NYSE: CLF). The company did better than expected in its second quarter. As often occurs in that situation, several analysts became more bullish on its prospects. According to data compiled by S&P Global Market Intelligence, Cleveland-Cliffs rose by almost 21% across the week. Second-quarter surprises On Monday, Cleveland-Cliffs published its latest earnings report, revealing that Q2 revenue was $4.9 billion, while its net loss came in at $247 million. Although both metrics are worse than the year-ago figures, they were higher than the consensus analyst estimates (particularly for the bottom line). Those optimistic analyst updates reinforced the double beat, especially since one of them took the form of a recommendation upgrade. This came from KeyBanc's Philip Gibbs, who now feels Cleveland-Cliffs is worthy of an overweight (read: buy) designation. Previously, he had ranked it as a sector weight (hold). Gibbs's new price target is $14 per share, which is 22% above where the stock currently sits. Analysts at the similarly named J.P. Morgan (a unit of JPMorgan Chase) and Morgan Stanley raised their price targets on the stock, meanwhile. The former's Bill Peterson cranked his more than 30% higher to $10 per share, although he maintained his neutral recommendation. The latter's Carlos De Alba set a new target of $10.50 per share from $8.00. Like Peterson, he kept his equivalent of a hold rating intact. In this time of tariffs Cleveland-Cliffs has also been in the news because of the tariffs imposed by the Trump administration. Yet the President has shown a clear strategy of negotiating these down, in certain instances quite substantially, so they likely won't have as much of an impact as previously believed by many. Should you invest $1,000 in Cleveland-Cliffs right now? Before you buy stock in Cleveland-Cliffs, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Cleveland-Cliffs wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $636,774!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,064,942!* Now, it's worth noting Stock Advisor's total average return is 1,040% — a market-crushing outperformance compared to 182% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 21, 2025 JPMorgan Chase is an advertising partner of Motley Fool Money. Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends JPMorgan Chase. The Motley Fool has a disclosure policy. Why Cleveland-Cliffs Stock Popped by Nearly 21% This Week was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
New York Times
3 days ago
- Business
- New York Times
Ethics Panel Rebukes Congressman for Wife's Stock Trade in Firm He Helped
The House Ethics Committee on Friday rebuked a Republican congressman from Pennsylvania and urged him and his wife to sell their holdings in a steel company in his district after a four-year investigation into a stock trade found that he had violated the House's official code of conduct. In its report, the committee cited Representative Mike Kelly, a member of the Ways and Means Committee, for a 'lack of candor' in its inquiry into 2020 trades by his wife, Victoria, involving a local steel company that was seeking government intervention to prevent layoffs or the closure of its plant in Butler, Pa., in Mr. Kelly's district. Mr. Kelly was actively lobbying the Trump administration for trade protections for the plant, newly purchased by the company Cleveland-Cliffs, and learned that the Commerce Department was going to intervene in favor of the firm. The next day — five days before the Commerce action was made public — his wife purchased 5,000 shares of Cleveland-Cliffs stock. She later sold the stock at a nearly $65,000 profit, a roughly 285-percent gain. Members of Congress are prohibited from using confidential information for financial benefit and must disclose transactions by them or close family members valued at more than $1,000, but efforts to tighten those rules or bar lawmakers from trading stocks altogether have so far been unsuccessful. That has created an environment rife with potential conflicts of interest, in which many lawmakers who are active in the stock market have unique insight into or influence over companies whose shares they are buying and selling. The report said because of a lack of cooperation from Mrs. Kelly, it was ' ultimately unable to confirm whether Mrs. Kelly received nonpublic information from her husband or what her intent was in purchasing the Cleveland-Cliffs stock.' It did say, though, that the transaction risked creating an appearance of impropriety and self-dealing. 'Representative Kelly's conduct with respect to Cleveland-Cliffs and his wife's stock purchase raised significant concerns for the committee, even if it did not rise to the level of insider trading or clearly violate conflict of interest rules,' the report said. It also said that during his committee interview, 'some of Representative Kelly's answers to key questions were inconsistent both during his testimony and with his prior written responses to committee requests for information.' The report also said the committee was alarmed by the fact that Mrs. Kelly had made additional purchases of the company's stock in 2024 when the congressman was again working on an issue of importance to the company. 'Mrs. Kelly's subsequent purchase of Cleveland-Cliffs stock despite the ongoing investigation, and Representative Kelly's failure to timely disclose that purchase and answer questions relating to it, are yet more examples of his failure to recognize the gravity of the allegations in this case and indicate a lack of respect for the committee's role and processes,' the report said. It said he 'has not demonstrated sufficient appreciation for the harm to the institution caused by the appearance of impropriety.' In a statement, Mr. Kelly, who was first elected in 2010, said he and his family 'look forward to getting this distraction behind us.' 'Throughout this process, I have fought for the 1,400 workers at the plant, I've spoken with these workers, and they appreciate the hard work we have done to fight for those jobs and for Butler,' Mr. Kelly said in the statement.
Yahoo
3 days ago
- Business
- Yahoo
Jim Cramer on Cleveland-Cliffs: 'There's a Sense That Business Will Only Get Better'
Cleveland-Cliffs Inc. (NYSE:CLF) is one of the stocks that Jim Cramer shared thoughts on. Cramer discussed the stock in light of the steel tariffs. He remarked: 'What do we make of this incredible comeback in Cleveland-Cliffs stock today, the vertically integrated steel maker focused on value-added steel products, particularly for the auto industry. This stock plunged from the low 20s early last year down to five bucks and change this past May when President Trump approved, and you know I'm against this, the Nippon Steel acquisition of U.S. Steel, which Cleveland-Cliffs also wanted to buy. Photo by the blowup on Unsplash Cleveland-Cliffs (NYSE:CLF) produces flat-rolled and stainless steel products, along with steel plates, electrical steel, and tubular components. Moreover, the company supplies raw materials like iron ore and provides metal processing services for industries such as automotive, infrastructure, and manufacturing. While we acknowledge the potential of CLF as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
4 days ago
- Business
- Yahoo
Cleveland-Cliffs Inc. (CLF): 'They Buy Almost All American,' Says Jim Cramer
We recently published . Cleveland-Cliffs Inc. (NYSE:CLF) is one of the stocks Jim Cramer recently discussed. Cleveland-Cliffs Inc. (NYSE:CLF) is a steel company whose shares have gained 17.5% year-to-date. The firm has primarily benefited from President Trump's decision to clamp down on cheap Chinese steel flooding the US market, which is a phenomenon Cramer has regularly discussed in his show. The shares have recently gained on the back of key news such as divestitures and strong earnings performance. Here's what Cramer said about Cleveland-Cliffs Inc. (NYSE:CLF): 'I know Lorenzo Goncalves tonight. Uh, Cleveland-Cliffs, I've got him for Mad Money. He bought Stelco. Stelco, doesn't look good, bad. . .but it's absolutely true that the President doesn't want any steel made elsewhere. And that is, just another driving force. bogdanhoda/ Previously, he discussed Cleveland-Cliffs Inc. (NYSE:CLF)'s balance sheet and exposure to the auto industry: 'Well I think that I wanted it [CLF] to win because I have been very suspicious of Nippon Steel which has had a history I believe of dumping in our country. And that is I'm getting that Dan DiMicco, the former CEO of Nucor who has continually told me the kind of dumping that we've seen around the world. While we acknowledge the potential of CLF as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
4 days ago
- Business
- Yahoo
Cleveland-Cliffs (CLF) Jumps 12.45% on Price Target Upgrade
We recently published . Cleveland-Cliffs Inc. (NYSE:CLF) is one of Monday's biggest gainers. Cleveland-Cliffs surged for a fourth straight day on Monday, jumping 12.45 percent to close at $10.66 apiece as investors took heart from an investment firm's higher price target despite the company's dismal earnings performance. In a market note, Citi raised its price target for Cleveland-Cliffs Inc. (NYSE:CLF) by 47 percent to $11 from $7.5 previously, but maintained 'neutral' for the stock. Citi also set a $200-million expectation on Cleveland-Cliffs Inc.'s (NYSE:CLF) adjusted EBITDA for the third quarter of the year, as well as a run-rate annual EBITDA of approximately $1.2 billion. By next year, Citi expects the company's EBITDA to further improve to roughly $1.7 billion once the Calvert slab contract concludes. In the second quarter of the year, Cleveland-Cliffs Inc. (NYSE:CLF) swung to a net loss attributable to shareholders of $483 million from a $9 million net income attributable to stockholders in the same period last year. This put its six-month net loss at $978 million, higher by 1,404 percent from the $65 million in the same period last year. A welder in a hardhat soldering steel plates to a blueprint plan. Revenues for the quarter stood at $4.934 billion, lower by 3.1 percent than the $5.092 billion year-on-year. Revenues for the first semester of the year, however, declined by 7 percent to $9.563 billion from $10.291 billion year-on-year. While we acknowledge the potential of CLF as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
