JP Morgan initiated coverage on Cleveland-Cliffs with a new price target
$CLF
Metal Mining
Basic Materials
JP Morgan initiated coverage of Cleveland-Cliffs with a rating of Overweight and set a new price target of $39.00
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 12/2/2024 | $16.00 | Buy | Goldman |
| 8/27/2024 | $16.50 | Neutral → Buy | Seaport Research Partners |
| 6/11/2024 | $23.00 → $17.00 | Overweight → Neutral | JP Morgan |
| 5/20/2024 | $22.00 | Buy | Jefferies |
| 4/9/2024 | $18.00 | Peer Perform → Underperform | Wolfe Research |
| 3/13/2024 | $22.00 | Buy → Neutral | Citigroup |
| 2/28/2024 | $16.50 | Neutral → Underperform | Exane BNP Paribas |
| 2/15/2024 | $21.50 → $20.00 | Overweight → Equal-Weight | Morgan Stanley |
Cleveland-Cliffs Inc. (NYSE:CLF) today reported third-quarter results for the period ended September 30, 2024. Third-Quarter 2024 Highlights Revenues of $4.6 billion Steel shipments of 3.8 million net tons GAAP net loss of $230 million and adjusted net loss1 of $156 million Adjusted EBITDA2 of $124 million Does not include Stelco's third-quarter adjusted EBITDA3 of US$64 million and adjusted EBITDA3 margin of 13% Liquidity of $3.8 billion as of September 30, 2024 Third-quarter 2024 revenues were $4.6 billion, compared to $5.1 billion in the second quarter of 2024. For the third quarter of 2024, the Company recorded a GAAP net loss of $0.52 per diluted share to Cliffs sharehol
Cleveland-Cliffs Inc. (NYSE:CLF) ("Cliffs") today announced that it has successfully completed its acquisition of Stelco Holdings Inc. ("Stelco"). The addition of Stelco enhances Cliffs' position as the largest flat-rolled steel producer in North America, diversifies Cliffs' end-markets and expands its geographical presence in Canada. Stelco will continue operations as a wholly-owned subsidiary of Cliffs, preserving the name and iconic Canadian legacy of the business. Lourenco Goncalves, Chairman, President and CEO of Cliffs, stated: "Today marks a transformative step forward for Cleveland-Cliffs. By bringing Stelco into the Cliffs family, we are building on our commitment to integrated st
TORONTO, Oct. 30, 2024 /CNW/ - Cleveland-Cliffs Inc (NYSE:CLF) and Stelco Holdings Inc. (TSX:STLC) have agreed to merge in a cash and stock combination. Each share of Stelco Holdings will be exchanged for 0.454 new Cleveland-Cliffs shares and $60.00 CAD cash. The transaction has received shareholder and regulatory approvals and is expected to close on November 1, 2024, subject to customary closing conditions. Stelco Holdings shares are expected to delist shortly after closing of the transaction. As a result, Stelco Holdings's shares will be removed from the S&P/TSX Composite Index prior to the open of trading on November 5, 2024. For more information about S&P Dow Jones Indices, please vi
Cleveland-Cliffs Inc. (NYSE:CLF) today reported third-quarter results for the period ended September 30, 2024. Third-Quarter 2024 Highlights Revenues of $4.6 billion Steel shipments of 3.8 million net tons GAAP net loss of $230 million and adjusted net loss1 of $156 million Adjusted EBITDA2 of $124 million Does not include Stelco's third-quarter adjusted EBITDA3 of US$64 million and adjusted EBITDA3 margin of 13% Liquidity of $3.8 billion as of September 30, 2024 Third-quarter 2024 revenues were $4.6 billion, compared to $5.1 billion in the second quarter of 2024. For the third quarter of 2024, the Company recorded a GAAP net loss of $0.52 per diluted share to Cliffs sharehol
Cleveland-Cliffs Inc. (NYSE:CLF) will announce its third-quarter 2024 earnings results after the U.S. market close on Monday, November 4, 2024. The Company invites interested parties to listen to a live broadcast of a conference call with securities analysts and institutional investors to discuss the results on Tuesday, November 5, 2024, at 8:30 am ET. The call can be accessed at www.clevelandcliffs.com and will also be archived and available for replay at that address. About Cleveland-Cliffs Inc. Cleveland-Cliffs is a leading North America-based steel producer with focus on value-added sheet products, particularly for the automotive industry. The Company is vertically integrated from th
Cleveland-Cliffs Inc. (NYSE:CLF) today reported second-quarter results for the period ended June 30, 2024. Second-Quarter 2024 Highlights Revenues of $5.1 billion Steel shipments of 4.0 million net tons Net income of $9 million and adjusted net income1 of $50 million Adjusted EPS1 of $0.11 per diluted share Adjusted EBITDA2 of $323 million Net debt3 decrease of $237 million to $3.4 billion Cash flow from operations of $519 million Free cash flow4 of $362 million Repurchased 7.5 million shares Liquidity of $3.7 billion as of June 30, 2024 Second-quarter 2024 revenues were $5.1 billion, compared to $5.2 billion in the first quarter of 2024. For the second
10-Q - CLEVELAND-CLIFFS INC. (0000764065) (Filer)
8-K - CLEVELAND-CLIFFS INC. (0000764065) (Filer)
8-K - CLEVELAND-CLIFFS INC. (0000764065) (Filer)
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4 - CLEVELAND-CLIFFS INC. (0000764065) (Issuer)
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SC 13G/A - CLEVELAND-CLIFFS INC. (0000764065) (Subject)
SC 13G/A - CLEVELAND-CLIFFS INC. (0000764065) (Subject)
SC 13G/A - CLEVELAND-CLIFFS INC. (0000764065) (Subject)
4 - CLEVELAND-CLIFFS INC. (0000764065) (Issuer)
4 - CLEVELAND-CLIFFS INC. (0000764065) (Issuer)
4 - CLEVELAND-CLIFFS INC. (0000764065) (Issuer)
Goldman initiated coverage of Cleveland-Cliffs with a rating of Buy and set a new price target of $16.00
Seaport Research Partners upgraded Cleveland-Cliffs from Neutral to Buy and set a new price target of $16.50
JP Morgan downgraded Cleveland-Cliffs from Overweight to Neutral and set a new price target of $17.00 from $23.00 previously
GrafTech International Ltd. (NYSE:EAF) ("GrafTech" or the "Company") announced today that the Company's Board of Directors (the "Board") has appointed Rory O'Donnell to the position of Chief Financial Officer and Senior Vice President of the Company, effective September 3, 2024. Mr. O'Donnell will serve as a member of the Company's executive leadership team and report directly to Chief Executive Officer and President Timothy Flanagan. He will be responsible for overseeing all financial aspects of the Company. "I am pleased to announce Rory's appointment as the Company's Chief Financial Officer and welcome him to GrafTech," said Timothy Flanagan, Chief Executive Officer and President. "Wit
Cleveland-Cliffs (NYSE:CLF) announced today that it has appointed renowned private equity executive, labor and political advisor Ron Bloom to its Board of Directors, effective immediately. With the addition of Mr. Bloom, the Cleveland-Cliffs' Board of Directors is now comprised of eleven members, of which ten are independent directors. After graduating with Distinction from the Harvard Business School, Ron Bloom started his career as an investment banker at Lazard, a firm he later re-joined as Vice Chairman, U.S. Investment Banking. After his first tenure at Lazard, Mr. Bloom represented the interests of organized labor, including serving as Special Assistant to the President of the Unite