14.1 C
New York
Saturday, September 25, 2021

Here is why CLF stock rallied on Tuesday, March 30, 2021

Cleveland-Cliffs Inc. (CLF) stock performed well on march 30, 2021. It gained 12.95% on Tuesday in both sessions.


3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free

Sponsored


CLF share prices have increased by 17.20% over the past week, but are up 26.21% over prices posted in the last quarter. Going further back, the stock’s price has tanked 162.80% over the last 6 months but is up 18.41% in year-to-date trading.

Let’s have a look at the recent news about CLF stock.

Scheduling the first-quarter 2021 earnings announcement

On March 30, 2021, Cleveland-Cliffs said that it will announce its first-quarter 2021 earnings results before the U.S. market opens on Thursday, April 22, 2021.

The CLF is expecting

  • Adjusted EBITDA of approximately $500 million for the 1Q of 2021.
  • Adjusted EBITDA of approximately $1.2 billion for the 2Q of 2021.
  • Adjusted EBITDA of approximately $3.5 billion for the full-year 2021.

Previous financial results

On February 25, 2021, Cleveland-Cliffs reported fourth-quarter and full-year results for the period ended December 31, 2020.

Fourth-quarter financial highlights

  • CLF consolidated revenue for the reported quarter was $2.3 billion, compared to prior-year fourth-quarter revenues of $534 million.
  • CLF reported net income of $74 million or $0.14 per diluted share, compared to net income of $63 million, or $0.23 per diluted share, for the fourth quarter in 2019.
  • Adjusted EBITDA1 was $286 million for the reported quarter, compared to $111 million in the fourth quarter of 2019.

Full-Year Financial highlights

  • Full-year 2020 CLF revenues were $5.4 billion, compared to the prior year’s revenues of $2.0 billion.
  • CLF suffered a net loss of $81 million in the year 2020, compared to 2019 net income of $293 million.
  • Adjusted EBITDA was $353 million for the full-year 2020, compared to $525 million in 2019.

About CLF

Cleveland-Cliffs Inc was founded in 1847 as a mine operator. Cleveland-Cliffs has been traditionally recognized as the largest and oldest independent iron ore mining company in the United States. Today, Cleveland-Cliffs is the largest flat-rolled steel company and the largest iron ore pellet producer in North America.

CLF stock is lead by Lourenco Goncalves who is Chairman, President, and Chief Executive Officer of Cleveland-Cliffs since August 2014.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest Articles

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Get Notified Of Insider Trades, Analyst Upgrades & Downgrades, Earnings Updates & Best Stocks To Trade Every Single Morning

100% free. stop anytime no spam

Get The Best Stocks To Trade Every Day!

Join now to get the Newsheater.com pre-market morning brief 100% free

We do not sell or share your information with anyone.