Shares of steel stocks are trading lower after Nucor issued soft Q2 guidance.
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Shares of steel stocks are trading lower after Nucor issued soft Q2 guidance.
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| Company | Date | Price Target | Rating | Analyst |
|---|---|---|---|---|
| 11/14/2024 | $30.00 → $32.90 | Neutral → Buy | BofA Securities | |
| 10/11/2024 | Overweight → Neutral | JP Morgan | ||
| 9/9/2024 | $40.00 → $42.00 | Neutral → Overweight | JP Morgan | |
| 9/6/2024 | $40.00 | Neutral → Outperform | Exane BNP Paribas | |
| 8/28/2024 | $29.00 → $31.00 | Hold → Buy | Deutsche Bank | |
| 8/27/2024 | $16.50 | Neutral → Buy | Seaport Research Partners | |
| 8/19/2024 | Equal Weight → Overweight | Barclays | ||
| 6/26/2024 | $43.00 → $45.00 | Market Perform → Outperform | BMO Capital Markets |
Luxembourg, November 7, 2024 - ArcelorMittal (referred to as "ArcelorMittal" or the "Company" or the "Group") (MT (New York, Amsterdam, Paris, Luxembourg), MTS (Madrid)), the world's leading integrated steel and mining company, today announced results1 for the three-month and nine-month periods ended September 30, 2024. 3Q 2024 key highlights: Safety focus: The Company-wide audit of safety by dss+ is now complete. It has provided the Group with a clear set of 6 recommendations which the Company is committed to implement. LTIF2 rate of 0.88x in 3Q 2024 and 0.68x in 9M 2024 Structurally higher margins and resilient operating results: Despite the challenging market environment, the Company c
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
United States Steel Corporation (NYSE:X) ("U. S. Steel") announced today that its Board of Directors declared a dividend of $0.05 per share of U. S. Steel Common Stock. The dividend is payable on Wednesday, December 11, 2024, to stockholders of record at the close of business on Monday, November 11, 2024. Founded in 1901, United States Steel Corporation is a leading steel producer. With an unwavering focus on safety, the Company's customer-centric Best for All® strategy is advancing a more secure, sustainable future for U. S. Steel and its stakeholders. With a renewed emphasis on innovation, U. S. Steel serves the automotive, construction, appliance, energy, containers, and packaging indus
U. S. Steel's Big River Steel, located in Osceola, Arkansas, passed a rigorous set of standards in environmental, social, and governance categories that raise the bar for sustainability across the steel supply chain. United States Steel Corporation (NYSE:X) ("U. S. Steel") today announced it is the first steel company in the world to qualify to sell its products as ResponsibleSteel Certified Steel at its Big River facility in Osceola, Arkansas. Big River received the first ResponsibleSteel Site Certification in North America in 2022 and is once again at the forefront of innovation by achieving certification for sustainably sourced and manufactured steel. This press release features multime
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
06 August 2024, 07:30 CET ArcelorMittal today announces that following the signature of a Share Purchase Agreement on 12 March 2024, and after the approval of relevant antitrust authorities and clearances under foreign investment regulations, it has completed the acquisition of 65,243,206 shares, representing c.28.41% equity interest in Vallourec, for €14.64 per share from funds managed by Apollo Global Management Inc., for a total consideration of approximately €955 million, subject to successful completion of the settlement. Following completion of this transaction, the appointment of Mr. Genuino Magalhaes Christino (Chief Financial Officer, ArcelorMittal) as director of Vallourec will
Luxembourg, November 7, 2024 - ArcelorMittal (referred to as "ArcelorMittal" or the "Company" or the "Group") (MT (New York, Amsterdam, Paris, Luxembourg), MTS (Madrid)), the world's leading integrated steel and mining company, today announced results1 for the three-month and nine-month periods ended September 30, 2024. 3Q 2024 key highlights: Safety focus: The Company-wide audit of safety by dss+ is now complete. It has provided the Group with a clear set of 6 recommendations which the Company is committed to implement. LTIF2 rate of 0.88x in 3Q 2024 and 0.68x in 9M 2024 Structurally higher margins and resilient operating results: Despite the challenging market environment, the Company c
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
6-K - ArcelorMittal (0001243429) (Filer)
6-K - ArcelorMittal (0001243429) (Filer)
10-Q - CLEVELAND-CLIFFS INC. (0000764065) (Filer)
4 - CLEVELAND-CLIFFS INC. (0000764065) (Issuer)
4 - CLEVELAND-CLIFFS INC. (0000764065) (Issuer)
4 - CLEVELAND-CLIFFS INC. (0000764065) (Issuer)
4 - CLEVELAND-CLIFFS INC. (0000764065) (Issuer)
4 - CLEVELAND-CLIFFS INC. (0000764065) (Issuer)
4 - UNITED STATES STEEL CORP (0001163302) (Issuer)
BofA Securities upgraded ArcelorMittal from Neutral to Buy and set a new price target of $32.90 from $30.00 previously
JP Morgan downgraded ArcelorMittal from Overweight to Neutral
JP Morgan upgraded U.S. Steel from Neutral to Overweight and set a new price target of $42.00 from $40.00 previously
Cleveland-Cliffs Inc. (NYSE:CLF) shares are trading higher today after the company reported financial results for the second quarter yesterday. The company reported revenue of $5.09 billion, missing the consensus estimate of $5.20 billion, according to Benzinga Pro. The company reported breakeven adjusted earnings, beating analyst estimates for a loss of 2 cents per share. Cleveland-Cliffs lowered its full-year 2024 expected capital expenditures range from a range of $675 million to $725 million to a new range of $650 million to $700 million. The company also noted that its year-over-year steel unit cost reduction objective of approximately $30 per net ton remains on track. KeyBa
Cleveland-Cliffs Inc (NYSE:CLF) reported financial results for the second quarter after the market close on Monday. Here’s a look at the key metrics from the quarter. Q2 Earnings: Cleveland-Cliffs reported second-quarter revenue of $5.1 billion, missing the consensus estimate of $5.1 billion, according to Benzinga Pro. The company reported breakeven adjusted earnings, beating analyst estimates for a loss of 2 cents per share. Steel shipments totaled 4 million net tons in the second quarter. Cash flow from operations was $519 million during the quarter, while free cash flow came in at $362 million. Cleveland-Cliffs said it repurchased 7.5 million shares under its previously authorize
SC 13G - UNITED STATES STEEL CORP (0001163302) (Subject)
SC 13G/A - CLEVELAND-CLIFFS INC. (0000764065) (Subject)
SC 13G/A - UNITED STATES STEEL CORP (0001163302) (Subject)