Cleveland-Cliffs Inc. ($CLF) Stock Forecast: Down 10.6% Today

What is Cleveland-Cliffs Inc.?

Asset Cleveland-Cliffs Inc. (NYSE: CLF) is a mining and natural resources company that supplies iron ore pellets to the North American steel industry. Today, the stock had a strong bearish movement.

Why is Cleveland-Cliffs Inc. going down?

CLF stock is down 10.6% on Nov 5, 2024 19:41

• Reported weaker than expected third-quarter results, with revenue of $4.57 billion missing estimates of $4.77 billion.
• The adjusted loss per share of $0.33 was higher than the estimated loss of $0.27, indicating financial underperformance.
• The stock price declined by 1.59% following the disappointing earnings report, reflecting investor concerns about weaker demand and pricing in the industry.
• The market reaction suggests that investors are awaiting insights on the integration of Stelco and how the company plans to address challenges in the automotive sector.

CLF Price Chart

CLF Technical Analysis

CLF News

Cleveland-Cliffs' Q3 Shortfall Linked To Automotive Adjustments; Analysts Await Stelco Integration Insights - Cleveland-Cliffs ( NYSE:CLF )

Cleveland-Cliffs Inc. CLF shares are trading lower on Tuesday following weak third-quarter results reported on Tuesday. The company reported third-quarter revenue of $4.57 billion, versus estimates of $4.77 billion, and adjusted loss per share of $0.33, versus estimates for a loss of $0.27.

https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41755355/cleveland-cliffs-q3-shortfall-linked-to-automotive-adjustments-analysts-await-stelc

Cleveland-Cliffs Q3 Earnings: Revenue, EPS Miss On 'Weaker Demand And Pricing,' Shares Slide - Cleveland-Cliffs ( NYSE:CLF )

Cleveland-Cliffs Inc CLF reported financial results for the third quarter after the bell on Monday. Here's a rundown of the report. Q3 Revenue: $4.57 billion, versus estimates of $4.77 billion Q3 EPS: Loss of 33 cents, versus estimates for a loss of 27 cents

https://www.benzinga.com/news/earnings/24/11/41730393/cleveland-cliffs-q3-earnings-revenue-eps-miss-on-weaker-demand-and-pricing-shares-slide

Cleveland-Cliffs ( CLF ) Stock Moves -1.59%: What You Should Know

Cleveland-Cliffs (CLF) closed the most recent trading day at $12.98, moving -1.59% from the previous trading session.

https://www.zacks.com/stock/news/2362196/cleveland-cliffs-clf-stock-moves--159-what-you-should-know

Gear Up for Cleveland-Cliffs ( CLF ) Q3 Earnings: Wall Street Estimates for Key Metrics

Looking beyond Wall Street's top -and-bottom-line estimate forecasts for Cleveland-Cliffs (CLF), delve into some of its key metrics to gain a deeper insight into the company's potential performance for the quarter ended September 2024.

https://www.zacks.com/stock/news/2360481/gear-up-for-cleveland-cliffs-clf-q3-earnings-wall-street-estimates-for-key-metrics

Cleveland-Cliffs ( CLF ) Laps the Stock Market: Here's Why

Cleveland-Cliffs (CLF) reachead $13.72 at the closing of the latest trading day, reflecting a +0.37% change compared to its last close.

https://www.zacks.com/stock/news/2360069/cleveland-cliffs-clf-laps-the-stock-market-heres-why

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Cleveland-Cliffs Inc. Price History

13.08.2024 - CLF Stock was up 5.3%

• CLF's stock showed a significant bullish trend, closing at $11.35, with a +1.98% increase from the prior trading day.
• Notable options activity for CLF reflected a bullish outlook from major financial entities, with 57% of traders showing optimism towards the stock.
• Despite a slight -1.3% fluctuation in the stock price in a recent session, an overall bullish sentiment appears to be dominant for Cleveland-Cliffs.
• The encouraging market performance and bullish options activity might be linked to favorable market conditions, growth prospects, or positive developments related to the company's operations and future prospects.

30.07.2024 - CLF Stock was down 5.1%

• The bearish movement in Cleveland-Cliffs' stock today could be attributed to several factors:
• Nippon Steel Corp.'s aggressive capital investment in U.S. Steel plants, despite resistance from steelworkers and political figures, might have raised concerns about increased competition and market share loss for Cleveland-Cliffs.
• The bearish stance taken by investors in options trading on Cleveland-Cliffs could have added selling pressure on the stock, reflecting a lack of confidence or potential downside expectations.
• Overall market sentiment towards the steel industry, influenced by ongoing trade tensions and protectionist tariffs, may have also contributed to the bearish movement in CLF's stock.

26.08.2024 - CLF Stock was up 7.0%

• Despite the general market decline, CLF demonstrated upward momentum, highlighting its resilience and potential strength.
• The positive movement in CLF may be linked to growing demand for iron ore and steel, potentially related to infrastructure projects or improving economic conditions.
• Investor optimism about CLF's future performance likely drove heightened buying interest, pushing the stock price higher.
• CLF's ability to exceed market performance suggests that investors trust in the company's growth potential and operational effectiveness.

10.08.2024 - CLF Stock was down 5.4%

• The stock price of CLF closed at $11.40, indicating a -1.3% shift from the previous trading day, reflecting the bearish movement.
• The Chief of Cleveland-Cliffs criticized US Steel for a 'pathetic blackmail attempt,' which might have created negative sentiment around the company, impacting its stock price.
• Despite some investors taking a bullish stance on CLF in the options market, the overall market sentiment seems to have been influenced by the tensions between Cleveland-Cliffs and US Steel, leading to the bearish movement in the stock price.

02.09.2024 - CLF Stock was up 5.7%

• Despite the bearish stance taken by some investors on Cleveland-Cliffs, the stock showed a strong bullish movement, indicating a divergence from the expected trend.
• The stock's significant bullish movement could be attributed to positive earnings reports or potential growth opportunities in the steel industry.
• The broader market may have experienced a slight decline, as indicated by Cleveland-Cliffs falling more steeply than the overall market, but CLF managed to defy this trend with its bullish performance.
• It seems like the whales betting against Cleveland-Cliffs might have underestimated the company's resilience and potential for growth, leading to a surprising bullish movement in the stock.

03.08.2024 - CLF Stock was down 5.0%

• Today's bearish movement in Cleveland-Cliffs' stock could be due to the noticeable bearish stance taken by investors in the options market as seen in recent trading trends.
• The increased capital investment by Nippon Steel Corp. for U.S. Steel plants in Pennsylvania and Indiana, amidst political and labor resistance, might have added uncertainty and pressure on Cleveland-Cliffs' stock.
• The conflicting sentiments in the options market, with some investors being bullish while others adopt a bearish outlook, could be contributing to the volatility and downward pressure on Cleveland-Cliffs' stock price.
• Overall, the market movement in Cleveland-Cliffs today reflects the complex dynamics of the steel industry, including acquisition deals, political influences, and investor sentiment in the options market.

05.10.2024 - CLF Stock was down 11.1%

• Q3 earnings for Cleveland-Cliffs (CLF) fell below revenue and EPS expectations due to subdued demand and pricing, causing a decline in the stock.
• The stock ended the trading day down 1.59%, reflecting investor response to the unsatisfactory financial performance.
• Wall Street's projections for Cleveland-Cliffs (CLF) worsened, reflecting apprehensions about the company's outlook.
• Despite a marginal increase in stock price during the most recent trading session, negative market sentiment persisted for Cleveland-Cliffs (CLF) following the earnings shortfall and industry challenges.

24.08.2024 - CLF Stock was up 5.7%

• CLF's bullish movement can be attributed to the positive market sentiment surrounding the company's commitment to the Middletown Works Project. This project, known for its environmentally friendly approach and high returns, has garnered investor confidence in CLF's future prospects.
• The shareholder approval of CLF's acquisition of Stelco is another factor contributing to the bullish trend. This strategic acquisition is expected to enhance CLF's market position and drive growth in the coming quarters.
• The overall bullish movement of CLF indicates that investors are optimistic about the company's strategic initiatives and potential for long-term value creation in the mining sector.

08.09.2024 - CLF Stock was down 5.3%

• The slight decrease in Cleveland-Cliffs' stock price could be attributed to profit-taking by investors after a recent uptrend.
• The lack of significant positive news or catalysts for the company may have contributed to the bearish movement.
• Investors might be shifting their focus to other stocks like Materion (MTRN), which experienced a positive movement, leading to a rotation out of Cleveland-Cliffs.
• Overall market sentiment or macroeconomic factors could also have influenced the bearish movement in CLF today.

06.08.2024 - CLF Stock was down 5.1%

• The bearish movement in CLF's stock today could be attributed to the public dispute and negative comments made by the company's chief towards US Steel, creating uncertainty and potential backlash from investors.
• The bullish stance taken by investors in the options market might have been overshadowed by the tense situation with US Steel, leading to a sell-off in the stock as traders reevaluate their positions.
• The market movement could also reflect concerns about the implications of potential acquisitions and the overall competitive landscape in the steel industry, adding further pressure on CLF's stock price.

10.08.2024 - CLF Stock was down 6.7%

• Financial giants displayed bullish sentiment through unusual options activity, contrasting the bearish stock movement, suggesting a gap between market sentiment and actual performance.
• A -1.3% stock price shift may be due to investors engaging in profit-taking after a recent uptrend or broader market volatility affecting the steel industry.
• A public dispute between Cleveland-Cliffs and US Steel, involving allegations of a "pathetic blackmail attempt", may have sparked uncertainty among investors, prompting them to sell CLF shares as they evaluate potential impacts on the company's future prospects.

05.10.2024 - CLF Stock was down 10.6%

• Reported weaker than expected third-quarter results, with revenue of $4.57 billion missing estimates of $4.77 billion.
• The adjusted loss per share of $0.33 was higher than the estimated loss of $0.27, indicating financial underperformance.
• The stock price declined by 1.59% following the disappointing earnings report, reflecting investor concerns about weaker demand and pricing in the industry.
• The market reaction suggests that investors are awaiting insights on the integration of Stelco and how the company plans to address challenges in the automotive sector.