Cleveland-Cliffs Inc. (CLF) shares are experiencing an uptick today following a positive initiation by Goldman Sachs. The investment bank started coverage on Cleveland-Cliffs with a bullish outlook, which has likely contributed to the stock's upward momentum. This endorsement from a major financial institution can often lead to increased investor confidence and buying activity, as it suggests a favorable view of the company's future prospects.
Additionally, Cleveland-Cliffs' recent strategic moves, such as its partnership with EDP Renewables for a long-term power purchase agreement, may also be bolstering investor sentiment. This agreement aligns with Cleveland-Cliffs' commitment to reducing greenhouse gas emissions and advancing its sustainability goals, which could be appealing to environmentally conscious investors.
Cleveland-Cliffs Inc. (CLF) is currently trading at $12.87, reflecting a 3.33% increase from its previous close of $12.45. The stock opened at $12.80 and has seen a slight rise of 0.51% from the opening price.