10 Best Low Priced Stocks to Invest in Now

4. Cleveland-Cliffs Inc. (NYSE:CLF)

Number of Hedge Fund Investors: 40

Stock Price as of December 24: $9.46

Cleveland-Cliffs Inc. (NYSE:CLF) is a US-based vertically integrated steel manufacturing and mining company, specializing in producing flat-rolled steel, stainless steel, and other related products. The company owns and operates mines, pellet plants, and steel mills, which makes it a key player in the domestic steel industry. The company’s clients include automotive manufacturers, construction firms, and industrial customers.

Cleveland-Cliffs Inc. (NYSE:CLF) is actively pursuing several strategic initiatives to grow its business and enhance its market position. One of the most significant moves is the acquisition of Stelco, a leading steel producer in Canada. This acquisition, completed in November, has added significant flexibility to the company’s operations, particularly in serving non-automotive markets. Stelco’s lower fixed costs and nimble operations make it well-suited to thrive in both strong and weak market conditions, thereby diversifying Cleveland-Cliffs Inc.’s (NYSE:CLF)  revenue streams and improving its overall cost structure.

Cleveland-Cliffs Inc. (NYSE:CLF) is also investing in several strategic growth projects that are expected to drive future performance. These include efficiency projects at the Middletown and Butler plants, which have received Phase 1 funding approvals from the Department of Energy. These projects aim to enhance operational efficiency and reduce energy costs. Additionally, Cleveland-Cliffs Inc. (NYSE:CLF) is developing a transformer plant at Weirton, which is expected to begin production in late 2025 or early 2026. This plant will leverage the company’s internal supply of oriented electrical steels from its Butler, Pennsylvania plant, ensuring a stable and high-quality material source.