Cleveland-Cliffs has received a consensus rating of Buy. The company's average rating score is 2.67, and is based on 8 buy ratings, 4 hold ratings, and no sell ratings.
What is the target price for CLF?
High $37.00
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Median $28.00
Low $23.00
Average $29.01
Current Price $17.14
How high can Cleveland-Cliffs stock go?
The CLF stock price can go up from 17.110 USD to 29.492 USD in one year.
Why is CLF tanking?
Cleveland-Cliffs stock (NYSE: CLF) dropped more than 8% over the last one week (five trading days). This was due to overall weakness in the steel market. With capacity utilization rising over the last few months as companies have been ramping up production to meet rising demand, supply of steel is likely to go up.
When it comes to Cleveland-Cliffs, Nasdaq advises that current investors should commit to the long haul. New investors may want to take a look at the company now while share prices are low. With sights set on innovation, sustainable growth, and a commitment to the environment, Cleveland-Cliffs is a company to watch.Dec 7, 2021
Rising steel prices buoyed by strong demand has propelled CLF stock gains of more than 76% this year at its peak during October.
Why is CLF stock falling?
The drop in CLF stock recently has been driven by the fall in iron ore prices. Efforts of decarbonization in China have led to the drop in iron ore prices. Additionally, the prices of steel are also likely to go down as Chinese steel supply is expected to rise in early 2022.
Is Cleveland-Cliffs a good buy?
Is Cleveland-Cliffs a good buy? Yes. Share prices are low right now and should go back up over time. Investors should treat this opportunity as a long-term investment.Dec 7, 2021