Cleveland-Cliffs Inc. (CLF, Financial), a key player in the North American steel and iron ore industry, experienced a notable stock price surge of 5.01%. The stock is currently trading at $12.48 per share with a trading volume of 6.33 million shares, a turnover rate of 1.28%, and a price fluctuation of 5.68%.
Recent financial reports reveal the company generated revenue of $4.569 billion, but faced a net loss of $242 million, equating to an earnings per share of -$0.52 and a gross profit of -$66 million. The price-to-earnings ratio stands at -13.26.
Among 12 financial institutions rating the stock, 42% recommend buying, 42% suggest holding, and 16% advise selling. Within the steel industry, which saw an overall increase of 0.22%, Cleveland-Cliffs, Friedman Industries Inc., and Metallus Inc. experienced significant gains. Cleveland-Cliffs, U.S. Steel, and General Stainless & Alloy Products were notably active, with turnover rates of 1.28%, 1.01%, and 0.59% respectively. Stocks with high volatility included Inno Holdings Inc., Zhengkang International, and Cleveland-Cliffs, with fluctuations of 9.29%, 7.68%, and 5.68%.
Cleveland-Cliffs operates as a vertically integrated producer, offering a comprehensive range of flat steel products. The company is organized into four operating segments: Steelmaking, Tubular, Tooling and Stamping, and European Operations, with the Steelmaking segment being the primary focus. It serves various markets, with a significant portion of its revenue derived from the U.S., particularly supplying the North American automotive industry.
