Cleveland-Cliffs Stock Soars 8.51%, Hits Intraday High of $14.15

Cleveland-Cliffs, Inc., a small-cap player in the ferrous metals industry, has experienced a significant uptick in its stock performance today, gaining 8.51% and reaching an intraday high of USD 14.15. This surge stands in stark contrast to the S&P 500, which has seen a decline of 0.38% on the same day.
Over the past week, Cleveland-Cliffs has shown a robust performance with an increase of 11.74%, and its monthly performance reflects a notable rise of 26.13%. Year-to-date, the stock has surged by 47.87%, outperforming the S&P 500's 14.16% gain. However, it is important to note that the company has faced challenges, reporting negative results for the last four consecutive quarters, including a pre-tax profit of USD -493 million, which represents a decline of 43.11%.

Despite the recent gains, Cleveland-Cliffs has struggled with consistent underperformance against the S&P 500 over the past three years, with a return of -6.27% compared to the benchmark's 84.48%. The company's financial metrics, including a return on equity of -24.13% and a debt-to-equity ratio of 1.32, indicate ongoing financial pressures.