As of Thursday close, Cleveland-Cliffs Inc.’s (NYSE:CLF) stock was down -$0.37, moving down -2.45 percent to $14.74. The average number of shares traded per day over the past five days has been 21,716,740 shares. 2 times new highs have been achieved over the past 5 days, with a $0.04 gain in that time frame. In the last twenty days, the average volume was 12,904,595, while in the previous 50 days, it was 9,351,798.
Since last month, CLF stock retreated -11.95%. Shares of the company fell to $14.49 on 08/14/23, the lowest level in the past month. A 52-week high of $22.83 was reached on 03/03/23 after having rallying from a 52-week low of $11.82. Since the beginning of this year, CLF’s stock price has dropped by -8.50% or -$1.37, and marked a new high 14 times. However, the stock has declined by -35.44% since its 52-week high.
CLF stock investors should be aware that Cleveland-Cliffs Inc. (CLF) stock had its last reported insider trading activity 108 days ago on May 02. MICHAEL RALPH S III, the Director of the company, purchased of 10,000 shares for $14.96 on May 02. It resulted in a $149,592 investment by the insider. Goncalves Celso L Jr added 6,500 shares at an average price of $15.18 on May 01. The insider now owns 237,727 shares following the transaction. On Apr 28, Director Yocum Arlene M bought 1,500 shares at $15.14 apiece. The transaction was valued at $22,703.
Valuation Metrics
Right now, Cleveland-Cliffs Inc. (CLF) has a P/E ratio of about 33.58. The stock’s beta is 2.22. Besides these, the trailing price-to-sales (P/S) ratio of 0.34, the price-to-book (PB) ratio of 0.97, and the price-to-cash flow ratio of 6.95 may also be considered.
The latest dividend of $0.06 per share was paid out, remained unchanged from last year’s $0.06. On Friday May 31 2019, a $0.01 dividend increase was announced.
Financial Health
In the three months ended June 29, Cleveland-Cliffs Inc.’s quick ratio stood at 0.70, while its current ratio was 2.10, showing that the company is not able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.51, and the total debt-to-equity ratio was 0.51. On the profitability front, the trailing twelve-month gross margin is 4.70% percent. In the year ended June 29, EBITDA margin amounted to 11.96%, whereas operating margins totaled 2.10%. Based on annual data, CLF earned $2.52 billion in gross profit and brought in $22.99 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 11.80%. Return on equity (ROE) for the past 12 months was 3.00%.
In Cleveland-Cliffs Inc.’s quarter-end financial report for June 29, it reported total debt of $3.96 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. CLF’s revenue fell -5.9% to $5.29 billion during the quarter, while net income inched up to $5.98 billion. While analysts expected Cleveland-Cliffs Inc. to report $0.69 quarterly earnings, the actual figure was $0.67 per share, beating the consensus estimate by -2.90%. During the quarter, the company generated $730.0 million in EBITDA. The liabilities of Cleveland-Cliffs Inc. were 10.26 billion at the end of its most recent quarter ended June 29, and its total debt was $3.99 billion. The value of shareholders’ equity is $508.68 million.
Technical Picture
This quick technical analysis looks at Cleveland-Cliffs Inc.’s (CLF) price momentum. With a historical volatility rate of 58.98%, the RSI 9-day stood at 34.59% on 17 August.
With respect to its five-day moving average, the current Cleveland-Cliffs Inc. price is up by +0.27% percent or $0.04. At present, CLF shares trade -10.67% below its 20-day simple moving average and -15.43% percent below its 100-day simple moving average. However, the stock is currently trading approximately -6.35% below its SMA50 and +9.59% above its SMA200.
Stochastic coefficient K was 20.08% and Stochastic coefficient D was 27.07%, while ATR was 0.71. Given the Stochastic reading of 7.76% for the 14-day period, the RSI (14) reading has been calculated as 37.78%. As of today, the MACD Oscillator reading stands at -0.26, while the 14-day reading stands at -0.82.
Analyst Ratings
JP Morgan launched its rating on Cleveland-Cliffs Inc. (NYSE: CLF) to a Neutral in a note to investors on May 23, 2023. Cleveland-Cliffs Inc. (CLF) has been rated Overweight by analysts. According to 1 brokerage firm, CLF is a sell, and 4 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Cleveland-Cliffs Inc. stock as buy, with 4 recommending it as overweight.
With a median target price of $18.00, the current consensus forecast for the stock is $13.44 – $26.00. Based on these forecasts, analysts predict Cleveland-Cliffs Inc. (CLF) will achieve an average price target of $18.25.
