CLF

Cleveland-Cliffs Inc

Industrial/Transportation


Presented:03/18/2021
Price:$16.69
Cap:$8.33B
Current Price:$12.88
Cap:$6.03B

Presented

Date03/18/2021
Price$16.69
Market Cap$8.33B
Ent Value$13.42B
P/E RatioN/A
Book Value$4.23
Div Yield0.36%
Shares O/S498.91M
Ave Daily Vol17,852,153
Short Int11.95%

Current

Price$12.88
Market Cap$6.03B
Cleveland-Cliffs, Inc. is an iron ore mining company, which supplies iron ore pellets to the North American steel industry from mines and pellet plants located in Michigan and Minnesota. The company was founded in 1847 and is headquartered in Cleveland, OH.

Publicly traded companies mentioned herein: Cleveland-Cliffs Inc (CLF)

Highlights

The presenter is long shares of Cleveland-Cliffs Inc (CLF), which was primarily an iron ore mining company until its 2020 acquisitions of AK Steel and ArcelorMittal USA. He estimates that following these acquisitions, CLF now maintains a ~40% market share in the US steel industry. While many investors worry about the inherent volatility that comes with steel, the presenter currently sees tightness in the steel market that he expects to last a while. For that reason, he has a price target of $34 per share, which would be a double from the current $17 per share.

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Idea Discussion

Commentor 1 - 2 weeks ago

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