Here's Why Cleveland-Cliffs And US Steel Are Moving

Cleveland-Cliffs Inc CLF and United States Steel Corporation X shares are trading lower by 6% and 5%, respectively, Wednesday in sympathy with the broader market as investors weigh the Fed's April minutes. Inflation and concerns of future rate hikes have weighed on investor sentiment recently.

See also: Best Steel Stocks

Cleveland-Cliffs is an independent iron ore mining company in the United States and is a supplier of iron ore pellets to the North American steel industry from its mines and processing facilities located in Michigan and Minnesota.

The following are the most recent analyst rating updates for Cleveland-Cliffs.

Date Analyst Firm Current Rating, PT
2021-05-04 Credit Suisse Outperform, $24
2021-04-26 Keybanc Sector Weight, NA
2021-04-19 Exane BNP Paribas Neutral, $19.20
2021-04-12 Goldman Sachs Neutral, NA
2021-04-09 Goldman Sachs Neutral, $20
2021-03-08 Keybanc Overweight, NA

U.S. Steel operates primarily in the United States but also has steelmaking capacity in Slovakia.

The following are the most recent analyst rating updates for U.S. Steel.

Date Analyst Firm Current Rating, PT
2021-05-11 Morgan Stanley Overweight, $32
2021-05-04 Credit Suisse Outperform, $35
2021-04-09 Goldman Sachs Neutral, $25
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