This largest manufacturer of iron-ore pellets in North America may see renewed interest due to steel tariffs.
Cleveland-Cliffs Inc. (CLF)
From Nate’s Notes
Though Cleveland-Cliffs Inc.’s (CLF) stock failed to get far above $9 before falling back below that level, I am very pleased to report that it has done a great job consolidating in the $8.50 range… and though there are never any guarantees, history suggests that if/when it does finally manage to clear that level on meaningful volume (and then hold the gains for a few days), it could be off to the races for the stock.
No, “iron ore” is nowhere near as exciting as biotechnology, for example, but for investors looking to add some diversification to their portfolios outside of the biotech and high-tech ideas that tend to dominate the newsletter, I believe Cleveland-Cliffs is a great way to go about it.
CLF is considered a strong buy under $7 and a buy under $10.
Nate Pile, Nate’s Notes, www.NotWallStreet.com, 707-433-7903, June 8, 2018