5 Best Commodity Stocks To Buy Now

Page 1 of 5

In this article, we discuss the 5 best commodity stocks to buy now. If you want to read about some more commodity stocks to now, go directly to 11 Best Commodity Stocks To Buy Now.

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

Number of Hedge Fund Holders: 37  

Cleveland-Cliffs Inc. (NYSE:CLF) operates as a flat-rolled steel producer in North America. On October 25, Cleveland-Cliffs posted earnings for the third quarter of 2022, reporting earnings per share of $0.29, missing market estimates by $0.17. The revenue over the period was $5.65 billion, down 5.8% compared to the revenue over the same period last year and missing market estimates by $140 million.

On October 26, B. Riley analyst Lucas Pipes maintained a Buy rating on Cleveland-Cliffs Inc. (NYSE: CLF) stock and lowered the price target to $26 from $32, noting that the company continues to battle higher input costs in 2022, weighed against a declining steel price environment.

At the end of the third quarter of 2022, 37 hedge funds in the database of Insider Monkey held stakes worth $475.3 million in Cleveland-Cliffs Inc. (NYSE:CLF), compared to 29 in the preceding quarter worth $451 million. 

Page 1 of 5