Jim Cramer Couldn't Stop Gushing About Cleveland-Cliffs' (CLF) Rare Earth Announcement

We recently published Jim Cramer Discussed These 13 Stocks & Shared Major Warning For Rare Earth Stocks. Cleveland-Cliffs Inc. (NYSE:CLF) is one of the stocks Jim Cramer recently discussed.

Cleveland-Cliffs Inc. (NYSE:CLF)’s third-quarter earnings saw its shares gain more than 20%. The firm is a steel company, but the shares moved in response to a surprising announcement related to rare earth metals by the firm’s CEO. Cramer commented on the development:

“It’s very exciting. Lorenzo Goncalves saying some really amazing things about the new trade environment. The United States is the most attractive steel market in the world. And it’s because of the Trump administration. They’re enforcing the trade environment, enforcing meaning so you can’t dump here. And David, get this, right out of nowhere, at the end, Mr. Goncalves concluded, beyond steel making, the renewed importance of rare earth, rare earth, rare earth, has driven us to refocus on the potential opportunity in our upstream mining assets. They have looked at their ore bodies and tailings basins, and they think they may have something. One in Michigan and one in Minnesota. That’s, those are mines. They’re already mining.”

While we acknowledge the potential of CLF as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.