Cleveland-Cliffs Inc. (CLF): What the Financials Tell Us

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Cleveland-Cliffs Inc. (NYSE:CLF) saw a downside of -1.72% to close Monday at $20.61 after subtracting -$0.36 on the day. The 5-day average trading volume is 10,849,320 shares of the company’s common stock. It has gained $21.56 in the past week and touched a new high 1 time within the past 5 days. An average of 12,726,790 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 12,223,692.

CLF’s 1-month performance is 43.22% or $3.71 on its low of $15.93 reached on 12/30/22. The company’s shares have touched a 52-week low of $11.82 and high of $34.04, with the stock’s rally to the 52-week high happening on 01/17/23. YTD, CLF has achieved 27.93% or $4.50 and has reached a new high 9 times. However, the current price is down -39.45% from the 52-week high price.

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Insider Transactions

CLF stock investors last saw insider trading activity on Sep 12.GREEN SUSAN MIRANDA (Director) most recently sold 300 shares at $18.07 per share on Sep 12. This transaction cost the insider $5,421. Director, Taylor Douglas C, sold 21,850 shares at a price of $22.77 on Jun 08. Then, on Jun 07, Director Taylor Douglas C sold 28,150 shares at a price of $23.12 per share. This transaction amounted to $650,918.

Valuation Metrics

CLF stock has a beta of 2.19. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.44 while the price-to-book (PB) in the most recent quarter is 1.52, with the price to cash flow ratio at 4.86.

Cleveland-Cliffs Inc.’s quick ratio for the period ended September 29 was 0.80, with the current ratio over the same period at 2.30. In terms of profitability, the gross margin trailing 12 months is 16.50%. The firm’s gross profit as reported stood at $4.53 billion against revenue of $20.44 billion.

Earnings Surprise

For the quarterly period ending September 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income shrunk -738.16% to $152.0 million, while revenue of $596.0 million was -292.11% off the previous quarter. Analysts expected CLF to announce $0.55 per share in earnings in its latest quarter, but it posted $0.29, representing a -47.30% surprise. EBITDA for the quarter stood at more than $424.0 million. CLF stock balance sheet for the quarter ending September 29 shows that total liabilities totaled 12.42 billion, with total debt at $4.47 billion. Shareholders hold equity totaling $515.3 million.

Let’s look briefly at Cleveland-Cliffs Inc. (CLF) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 23 January was 68.34% to suggest the stock is trending Neutral, with historical volatility in this time period at 46.93%.

The stock’s 5-day moving average is $20.72, reflecting a -1.48% or -$0.31 change from its current price. CLF is currently trading +36.22% above its 20-day SMA, +11.11% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +48.27% and SMA200 by-36.66%.

Stochastic %K and %D was 83.50% and 84.19% and the average true range (ATR) pointed at 0.84. The RSI (14) points at 67.63%, while the 14-day stochastic is at 81.90% with the period’s ATR at 0.85. The stock’s 9-day MACD Oscillator is pointing at 0.27 and 1.23 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Cleveland-Cliffs Inc. (NYSE: CLF), Morgan Stanley upgraded it to an Overweight rating. They previously had an Equal-weight rating on the stock. Analysts offering their rating for CLF stock have a consensus rating for the stock as Overweight. Currently, 2 brokerage advisors rate CLF as a “sell,”, while 5 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 6 have offered a “buy” rating.

What is CLF’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $13.00 and a high of $27.00, with their median price target at $18.00. Looking at these predictions, the average price target given by analysts is for Cleveland-Cliffs Inc. (CLF) stock is $19.56.

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