Cleveland-Cliffs Inc. (NYSE:CLF) saw a downside of -2.15% to close Tuesday at $15.92 after subtracting -$0.35 on the day. The 5-day average trading volume is 7,668,240 shares of the company’s common stock. It has gained $17.52 in the past week and touched a new high 1 time within the past 5 days. An average of 8,285,080 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 8,189,458.
CLF’s 1-month performance is -3.16% or -$0.37 on its low of $15.45 reached on 08/08/23. The company’s shares have touched a 52-week low of $11.82 and high of $22.83, with the stock’s rally to the 52-week high happening on 03/03/23. YTD, CLF has lost -1.18% or -$0.19 and has reached a new high 14 times. However, the current price is down -30.27% from the 52-week high price.
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Insider Transactions
CLF stock investors last saw insider trading activity on May 02.Taylor Douglas C (Director) most recently sold 42,000 shares at $21.25 per share on Mar 07. This transaction cost the insider $892,576. Director, GREEN SUSAN MIRANDA, sold 8,700 shares at a price of $22.66 on Mar 03. Then, on Sep 12, Director GREEN SUSAN MIRANDA sold 300 shares at a price of $18.07 per share. This transaction amounted to $5,421.
Valuation Metrics
CLF stock has a beta of 2.21. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.38 while the price-to-book (PB) in the most recent quarter is 1.05, with the price to cash flow ratio at 7.74.
Cleveland-Cliffs Inc.’s quick ratio for the period ended June 29 was 0.70, with the current ratio over the same period at 2.10.. In terms of profitability, the gross margin trailing 12 months is 4.70%. The trailing 12-month EBITDA margin is 11.96% while for the period ending June 29, Cleveland-Cliffs Inc.’s operating margin was 2.10%. The firm’s gross profit as reported stood at $2.52 billion against revenue of $22.99 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income shrunk -71.76% to $347.0 million, while revenue of -$57.0 million was 116.43% off the previous quarter. Analysts expected CLF to announce $0.69 per share in earnings in its latest quarter, but it posted $0.67, representing a -2.90% surprise. EBITDA for the quarter stood at more than $730.0 million. CLF stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 10.26 billion, with total debt at $3.99 billion. Shareholders hold equity totaling $508.68 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 08 August was 35.90% to suggest the stock is trending Neutral, with historical volatility in this time period at 36.39%.
The stock’s 5-day moving average is $16.34, reflecting a -9.90% or -$1.75 change from its current price. CLF is currently trading -5.58% above its 20-day SMA, -9.85% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +11.41% and SMA200 by+7.42%.
Stochastic %K and %D was 15.16% and 21.26% and the average true range (ATR) pointed at 0.61. The RSI (14) points at 41.69%, while the 14-day stochastic is at 18.43% with the period’s ATR at 0.60. The stock’s 9-day MACD Oscillator is pointing at -0.69 and -0.68 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Cleveland-Cliffs Inc. (NYSE: CLF), JP Morgan launched coverage with a Neutral rating. Analysts offering their rating for CLF stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate CLF as a “sell,”, while 6 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 $17.00 and a high of $26.00, with their median price target at $19.00. Looking at these predictions, the average price target given by analysts is for Cleveland-Cliffs Inc. (CLF) stock is $20.31.
