10 Best US Stocks Under $10 to Buy Right Now

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

Share Price as of March 24: $9.42

Number of Hedge Fund Holders: 49

Cleveland-Cliffs Inc. (NYSE:CLF) is a flat-rolled steel producer that supplies steel products across North America and internationally. These include hot-rolled, cold-rolled, and advanced high-strength steel. It also produces stainless steel, steel plates, and electrical steel, alongside raw materials like iron ore and coal.

In Q4 2024, the company’s Automotive Steel segment saw the lowest automotive shipments since the pandemic, which contributed to an $81 million adjusted EBITDA loss. However, early 2025 shows recovery with improved order books and pull rates. Automotive volumes are increasing from existing and new programs. The company believes quality and delivery outperform aggressive pricing long-term.

The company is also positioned to capitalize on the rising hot-rolled coil (HRC) steel prices. With the integration of Stelco, a $100 annual increase in HRC prices is projected to add ~$1 billion to the company’s yearly revenue. The Stelco integration refers to Cleveland-Cliffs Inc.’s (NYSE:CLF) acquisition and incorporation of Stelco’s operations into its existing business, which is a Canadian steel company. This aims to achieve cost synergies and optimize production.