Recently, the stock again popped up on our scanner.
Cliffs is the oldest iron ore company founded in 1847
We did hear a rumor of a possible buyout / merger and even the potential for the company to go Private. If either of these rumors pan out, we think the stock is worth at minimum, $20 all day long!
Currently the stock is trading at an extreme discount to the industry. In fact, J.P. Morgan just raised the price target to $17.00 due to the high demand for Cliffs Iron Ore.
The stock should be trading around $15.00 right now and upwards of $18 to $20 after the next report.
At current levels, Cliffs is a GIFT!
We are currently only holding CLIFFS and 4 other positions. Everything else we've posted and sold has produced us great returns.
Our track record within TradingView speaks loud and clear!
Position: 5 Million Shares
Average Cost: $9.75