Cleveland-Cliffs Sees Composite Rating Move Up To 97

The IBD SmartSelect Composite Rating for Cleveland-Cliffs (CLF) increased from 84 to 97 Friday.


The revised score means the stock currently tops 97% of all other stocks in terms of key performance metrics and technical strength. History shows the top market performers tend to have a 95 or higher score as they launch their major moves.

Cleveland-Cliffs is not currently near a proper buy point. See if the stock goes on to form a new chart pattern and offer a new buying opportunity.

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One weak spot is the company’s 51 EPS Rating, which tracks quarterly and annual earnings-per-share growth. Look for that to improve to 80 or better to show it’s in the top 20% of all stocks.

Its Accumulation/Distribution Rating of B- shows moderate buying by institutional investors over the last 13 weeks.

The company reported a 775% increase in earnings for Q1. It has now posted accelerating EPS increases for three consecutive quarters. Revenue growth climbed 1,028%, up from 322% in the prior report. The company has now posted accelerating growth in each of the last three reports.

Cleveland-Cliffs earns the No. 4 rank among its peers in the Steel-Producers industry group. Nucor (NUE) is the top-ranked stock within the group.


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