Steel Stocks Boosted by Trump: Cliffs Natural Resources Inc (CLF)
Shares of iron ore supplier Cliffs Natural Resources Inc (NYSE:CLF) are emerging from its five-month downtrend and have pushed above its 50-day moving average. Watch for a test of the 200-day average — up 10% from here — ahead of a return to the early March trading range near $9, which would be worth a near 30% gain for CLF.
The company will next report results on July 27 before the bell. Analysts are looking for earnings of 28 cents per share of CLF on revenues of $704.7 million. When the company last reported results on April 27, earnings of 16 cents per share missed estimates by 4 cents on a 51% increase in revenue from last year. Edge Pro subscribers are up 3% in the stock since adding a position earlier in the week.