– Sectors – Cleveland Cliffs (CLF)

March 28, 2024

We Upgrade Cleveland Cliffs to BUY from SELL on: “Trump Put” + “Biden Put” + Rotation Out of Tech into Value = Smooth Sailing Looking Forward

By Gordon L. Johnson II

Is Cleveland Cliffs Really a BUY Here? With the S&P 500 up +10.0% year-to-date (“YTD”), vs. CLF being up +8.4% over the same timeframe (i.e., CLF has underperformed), not to mention the QQQs being up…

February 6, 2024

US HRC Steel Prices Appear Set to Have a “Humpty Alexander Dumpty”-Like Fall… Which is Not Priced Into CLF’s Shares; PT to $11.41/shr

By Gordon L. Johnson II

Looking Past Last Year’s Delayed Recession, the Real Thing Appears Set to Take Hold in 2024. While steel industry CEO’s have maintained a positive bias thru 4Q23 earnings reporting season, contrary to the belief of…

December 5, 2023

Is the Recent Surge in US HRC Spot Prices the Biggest “Head Fake” Since, Well, This Time Last Yr (Setting US Steel Stocks up for a Big Early ’24 Fall), or is it the “Real Deal”?

By Gordon L. Johnson II

The Spread Between US HRC Spot Prices and Foreign HRC Spot Prices Has Exploded Higher Recently; is it Justified? As detailed below (Ex. 1), since 10/13/23, US HRC spot prices have surged +$335/s. ton, vs….

August 14, 2023

US Steel Rejects Cleveland Cliffs’ Takeover Offer After the Latter Refuses to Engage in the Necessary/Customary Processes to Assess Valuation & Regulatory Issues – GLJ’s Take

By Gordon L. Johnson II

Cliff’s Offers to Pay a 42% Premium for US Steel, Effectively Crediting the Company for its “Best for All®” Strategy Before it’s Been Fully Executed (a huge plus for US Steel’s shareholders). Last night, we…

July 27, 2022