Are You Looking To Buy Cleveland-Cliffs Inc. (CLF)? First, Read This

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Cleveland-Cliffs Inc. (NYSE:CLF) finished Thursday with a subtraction of -$0.18 to close at $14.10, a downside of -1.26 percent. An average of 15,198,420 shares of common stock have been traded in the last five days. There was a fall of -$1.13 in the past week, and it reached a new high 14 times over the past 12 months. The last 20 days have seen an average of 14,218,995 shares traded, while the 50-day average volume stands at 14,093,614.

CLF stock has decreased by -21.14% in the last month. The company shares reached their 1-month lowest point of $13.97 on 09/22/22. With the stock rallying to its 52-week high on 04/05/22, shares of the company touched a low of $14.26 and a high of $34.04 in 52 weeks. It has reached a new high 12 times so far this year and lost -35.23% or -$7.67 in price. In spite of this, the price is down -58.58% from the 52-week high.


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Insider Transactions

11 days have passed since Cleveland-Cliffs Inc. (CLF) last reported insider trading activity. GREEN SUSAN MIRANDA, who is Director, most recently acquired $300 shares at $18.07 per share on Sep 12. In this transaction, the insider spent $5,421. Director, Taylor Douglas C, disposed of 21,850 shares at a price of $22.77 on Jun 08. The insider now owns more than $497,509 worth of shares. Prior to that, Director Taylor Douglas C went on to Sale 28,150 shares at $23.12 each on Jun 07. An amount of $650,918 was transacted.

Valuation Metrics

Cleveland-Cliffs Inc. (CLF) has a trailing price-to-earnings (P/E) ratio of 2.12. The stock’s beta is 2.24. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.31, the price-to-book (PB) ratio at 1.10, and the price-to-cash flow ratio at 2.33.

Financial Health

The quick ratio of Cleveland-Cliffs Inc. for the three months ended June 29 was 0.70, and the current ratio was 2.20, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.69 and a total debt to equity ratio of 0.00 for the quarter ending June 29. Its gross profit as reported stood at $4.53 billion compared to revenue of $20.44 billion.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Cleveland-Cliffs Inc.’s return on assets was 18.60%.

Earnings Surprise

For the three-month period that ended June 29, Cleveland-Cliffs Inc. had $4.67 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $596.0 million in the quarter, while revenues were shrunk -30.87%. The analyst consensus anticipated Cleveland-Cliffs Inc.’s latest quarter earnings to come in at $1.31 per share, but it turned out to be $1.13, a -13.70% surprise. For the quarter, EBITDA amounted to $1.06 billion. Shareholders own equity worth $517.3 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Cleveland-Cliffs Inc. (CLF) price momentum. RSI 9-day as of the close on 22 September was 23.96%, suggesting the stock is oversold, with historical volatility in this time frame at 37.45%.

As of today, CLF’s price is $14.59 -7.42% or -$1.13 from its 5-day moving average. CLF is currently trading -22.70% lower than its 20-day SMA and -44.68% lower than its 100-day SMA. However, the stock’s current price level is -9.38% below the SMA50 and -30.78% below the SMA200.

The stochastic %K and %D were 2.10% and 3.63%, respectively, and the average true range (ATR) was 0.84. With the 14-day stochastic at 2.65% and the average true range at 0.87, the RSI (14) stands at 30.80%. The stock has reached -1.06 on the 9-day MACD Oscillator while the 14-day reading was at -1.84.

Analyst Ratings

Wolfe Research downgraded Cleveland-Cliffs Inc. (NYSE: CLF) to a a Peer perform rating in its most recent analyst report. Previously, the stock was rated as an Outperform.

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