The stock of Cleveland-Cliffs Inc. (NYSE:CLF) increased by $1.29 on Monday to finish at $15.98, up 8.78 percent. The last five days have seen an average of 18,447,939 shares of common stock traded. 14 times new highs were reached in the current year, with a fall of -$0.13. The average number of shares traded over the last 20 days was 11,277,820, while the average volume over the last 50 days totaled 8,867,772.
CLF stock dropped -4.65% since last month. On 08/14/23, the company’s shares reached a one-month low of $14.49. The stock touched a high of $22.83 on 03/03/23, after rallying from a low of $11.82 in 52 weeks. The price of CLF stock has declined by -0.81% or -$0.13 this year, reaching a new high 14 times. Still, the stock price is down -30.00% from the 52-week high.
Insider Transactions
CLF stock investors should be aware that Cleveland-Cliffs Inc. (CLF) stock had its last reported insider trading activity 105 days ago on May 02. On May 02, Director MICHAEL RALPH S III acquired 10,000 shares at $14.96 each. This transaction resulted in the insider spending $149,592. On May 01, Goncalves Celso L Jr added 6,500 shares at a price of US$15.18. After the transaction, the insider now owns 237,727 shares. Director Yocum Arlene M had earlier bought 1,500 shares on Apr 28 for $15.14 a share. The transaction was completed for $22,703.
Valuation Metrics
Cleveland-Cliffs Inc. (CLF) has a trailing price-to-earnings (P/E) ratio of 36.40. Beta for the stock is 2.23. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 0.37, the price-to-book (PB) ratio of 1.05, and the price-to-cash flow ratio of 7.54.
Company paid $0.06 per share in dividends, remained unchanged from $0.06 last year.
Financial Health
For the three months ended June 29, Cleveland-Cliffs Inc.’s quick ratio was 0.70, while its current ratio was 2.10, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.51, and the total debt to equity ratio is 0.51. As far as profitability goes, gross margin for the trailing twelve months is 4.70% percent. Cleveland-Cliffs Inc.’s operating margin stood at 2.10% for the same period. Based on annual data, it had gross profit of $2.52 billion and revenue of $22.99 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 1.20%. There was a 11.80% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 3.00%.
Earnings Surprise
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 $5.98 billion, while revenues fell by -5.9% to $5.29 billion. It was predicted that Cleveland-Cliffs Inc.’s quarterly earnings would be $0.67, but it ended up being $0.69, beating the consensus by -2.90%. EBITDA was $730.0 million for the quarter. At the end of Cleveland-Cliffs Inc.’s most recent quarter ended June 29, its liabilities totaled 10.26 billion, while its total debt was $3.99 billion. Equity owned by shareholders amounts to $508.68 million.
Technical Picture
Here’s a quick look at Cleveland-Cliffs Inc.’s (CLF) price momentum from a technical perspective. As of 14 August, the RSI 9-day stood at 47.79%, suggesting the stock is Neutral, with a 62.81% historical volatility rate.
The stochastic %K and %D were 17.34% and 9.58% respectively, while the average true range (ATR) was 0.73. Based on the 14-day stochastic reading of 46.27%, the RSI (14) reading is 47.25%. On the 9-day MACD Oscillator, the stock is at -0.73, and the 14-day reading is at -1.27.
Analyst Ratings
In its analyst report released on May 23, 2023, JP Morgan began covering Cleveland-Cliffs Inc. (NYSE: CLF). The stock was rated as a Neutral by the brokerage firm. Analysts have assigned Cleveland-Cliffs Inc. (CLF) an Overweight rating. CLF is a stock that is recommended for selling by 0 brokerage firms, while 6 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 4 others recommend it as a buy.
