The stock of Cleveland-Cliffs Inc. (NYSE:CLF) increased by increased by $2.69 on Friday to finish at $23.85, up 12.71 percent. The last five days have seen an average of 28,418,480 shares of common stock traded. 17 times new highs were reached in the current year, with a gain of $9.29. The average number of shares traded over the last 20 days was 21,749,135, while the average volume over the last 50 days totaled 22,286,010.
CLF stock appreciated 14.44% since last month. On 10/01/21, the company’s shares reached a one-month low of $19.14. The stock touched a high of $26.51 on 08/13/21, after rallying from a low of $7.59 in 52 weeks. The price of CLF stock has risen by 63.80% or $9.29 this year, reaching a new high 17 times. Still, the stock price is down -10.03% from the 52-week high.
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There have been 136 days since Cleveland-Cliffs Inc. (CLF) last reported insider trading activity on Jun 11. On Jun 11, Director BALDWIN JOHN T sold 7,200 shares at $23.75 each. This transaction resulted in the insider making $171,007. On Jun 10, BALDWIN JOHN T sold 12,800 shares at a price of US$23.38. After the transaction, the insider now owns 120,927 shares. Director GREEN SUSAN MIRANDA had earlier sold 18,000 shares on May 18 for $20.39 a share. The transaction was completed for $366,975.
Cleveland-Cliffs Inc. (CLF) has a trailing price-to-earnings (P/E) ratio of 15.60. This level actually compares unfavorably with the industry at large, as the PE for the Steel industry stands at about 5.88. Further, its PE also compares unfavorably with the Basic Materials sector’s trailing 12 months PE ratio, which comes in at 13.81 right now. The PE ratio of Cleveland-Cliffs Inc. has varied between 99.29 and 1.747 in the last five years. Beta for the stock is 2.19. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 0.81, the price-to-book (PB) ratio of 3.69.
Cleveland-Cliffs Inc.’s dividend is $0.24 per share per year. On Apr. 15, the company paid $0.06 per share in dividends, remained unchanged from $0.06 last year. A $0.01 dividend increase was reported on Friday May 31 2019.
For the three months ended June 29, Cleveland-Cliffs Inc.’s quick ratio was 0.80, while its current ratio was 2.20, indicating its inability to pay off its debt. As far as profitability goes, gross margin for the trailing twelve months is 14.70% percent. Cleveland-Cliffs Inc.’s EBITDA margin for the year ended June 29 was 8.89%, whereas its operating margin stood at 1.30% for the same period. Based on annual data, it had gross profit of $252.0 million and revenue of $5.35 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. CLF’s return on assets (ROA) during the last 12 months has been -0.20%. There was a 1.30% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -1.40%. ROE has averaged 24.01 in the past year for the broader industry.
According to Cleveland-Cliffs Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $5.04 billion, while revenues rose by 78.34% to $4.05 billion. It was predicted that Cleveland-Cliffs Inc.’s quarterly earnings would be $1.33, but it ended up being $1.52, beating the consensus by -12.50%. EBITDA was $1.31 billion for the quarter. At the end of Cleveland-Cliffs Inc.’s most recent quarter ended June 29, its liabilities totaled 14.21 billion, while its total debt was $5.37 billion. Equity owned by shareholders amounts to $499.74 million.
Here’s a quick look at Cleveland-Cliffs Inc.’s (CLF) price momentum from a technical perspective. As of 22 October, the RSI 9-day stood at 72.16%, suggesting the stock is Overbought, with a 64.73% historical volatility rate.
The stochastic %K and %D were 79.09% and 73.03% respectively, while the average true range (ATR) was 1.13. Based on the 14-day stochastic reading of 94.44%, the RSI (14) reading is 64.72%. On the 9-day MACD Oscillator, the stock is at 0.53, and the 14-day reading is at 0.88.
In its most recent analyst report, Goldman raised its rating on Cleveland-Cliffs Inc. (NYSE: CLF) to a Buy. Prior to this, analysts firm rated the stock as a Neutral. Analysts have assigned Cleveland-Cliffs Inc. (CLF) an Overweight rating. CLF is a stock that is recommended for selling by 0 brokerage firms, while 4 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 6 others recommend it as a buy.
What is CLF’s price target for the next 12 months?
The current consensus forecast for the stock is between $21.00 and $38.00, with a median target price of $24.00. In analyzing these forecasts, the average price target given by analysts for Cleveland-Cliffs Inc. (CLF) is $28.30.