5 Stocks Racking Up Monster Gains

In this article, we deep dive into the 5 Stocks Racking Up Monster Gains. For a deeper discussion and an extended list, please see 10 Stocks Racking Up Monster Gains.

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

Shares of Cleveland-Cliffs jumped by 8.71 percent on Monday to finish at $10.61 apiece, as investors loaded portfolios in high-growth industries, with optimism supported by the US and Iran’s plan to end the war.

Cleveland-Cliffs Inc. (NYSE:CLF)—a US-based steel producer—has been attracting investor attention recently, supported by its efforts to diversify into the rare earths sector.

Last year, Cleveland-Cliffs Inc. (NYSE:CLF) announced that it officially kicked off efforts to expand beyond steelmaking and into rare earth mining, with the potential of two mining sites in Michigan and Minnesota being explored at present.

“If successful, it would align Cleveland-Cliffs with the broader national strategy for critical material independence, similar to what we achieved in steel. American manufacturing shouldn’t rely on China or any foreign nation for essential minerals, and Cliffs intends to be part of the solution,” Goncalves said.

Rare earth mining is one of the highly-prioritized industries identified by President Donald Trump, in line with his goals to reduce the United States’ reliance on China for rare earths.

In other news, Cleveland-Cliffs Inc. (NYSE:CLF) said last week that it narrowed its net loss attributable to shareholders by 52.4 percent to $237 million from $498 million in the same period last year. Revenues increased by 6 percent to $4.9 billion from $4.6 billion year-on-year.