Cleveland-Cliffs Inc (NYSE:CLF) finished Wednesday with an addition of $0.48 to close at $15.18, an upside of 3.27 percent. An average of 11,094,420 shares of common stock have been traded in the last five days. There was a gain of $0.75 in the past week, and it reached a new high 27 times over the past 12 months. The last 20 days have seen an average of 9,817,940 shares traded, while the 50-day average volume stands at 10,862,090.
CLF stock has increased by 3.34% in the last month. The company shares reached their 1-month lowest point of $13.84 on 09/18/23. With the stock rallying to its 52-week high on 03/03/23, shares of the company touched a low of $11.82 and a high of $22.83 in 52 weeks. It has reached a new high 14 times so far this year and lost -5.77% or -$0.93 in price. In spite of this, the price is down -33.51% from the 52-week high.
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Insider Transactions
CLF stock investors should be aware that Cleveland-Cliffs Inc (CLF) stock had its last reported insider trading activity 205 days ago on May 02. In this transaction, the insider spent $892,576. Director, GREEN SUSAN MIRANDA, disposed of 8,700 shares at a price of $22.66 on Mar 03. The insider now owns more than $197,145 worth of shares.
Valuation Metrics
Cleveland-Cliffs Inc (CLF) has a trailing price-to-earnings (P/E) ratio of 34.47. The stock’s beta is 2.20. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.35, the price-to-book (PB) ratio at 0.99, and the price-to-cash flow ratio at 7.16.
Financial Health
The quick ratio of Cleveland-Cliffs Inc for the three months ended June 29 was 0.72, and the current ratio was 2.10, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.51 and a total debt to equity ratio of 0.51 for the quarter ending June 29. Its gross profit as reported stood at $2.52 billion compared to revenue of $22.99 billion.
Earnings Surprise
For the three-month period that ended June 29, Cleveland-Cliffs Inc had $3.96 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 $347.0 million in the quarter, while revenues were shrunk -71.76%. The analyst consensus anticipated Cleveland-Cliffs Inc’s latest quarter earnings to come in at $0.69 per share, but it turned out to be $0.67, a -2.90% surprise. For the quarter, EBITDA amounted to $730.0 million. Shareholders own equity worth $508.68 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 27 September was 60.31%, suggesting the stock is Neutral, with historical volatility in this time frame at 41.30%.
As of today, CLF’s price is $14.64 +5.20% or $0.75 from its 5-day moving average. CLF is currently trading -0.78% lower than its 20-day SMA and +6.45% higher than its 100-day SMA. However, the stock’s current price level is -10.18% below the SMA50 and -6.06% below the SMA200.
The stochastic %K and %D were 78.12% and 58.73%, respectively, and the average true range (ATR) was 0.47. With the 14-day stochastic at 94.37% and the average true range at 0.48, the RSI (14) stands at 54.71%. The stock has reached 0.45 on the 9-day MACD Oscillator while the 14-day reading was at 0.53.
Analyst Ratings
Citigroup upgraded Cleveland-Cliffs Inc (NYSE: CLF) to a a Buy rating in its most recent analyst report. Previously, the stock was rated as a Neutral. The consensus rating for Cleveland-Cliffs Inc (CLF) among analysts is Overweight. According to current brokerage recommendations, 1 brokerage firm advise that investors sell CLF, while 4 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 6 others rate it as a “buy”.
What is CLF’s price target for the next 12 months?
Analysts predict a range of price targets between $13.44 and $25.00, with a median target of $19.00. Taking a look at these predictions, the average price target given by analysts for Cleveland-Cliffs Inc (CLF) stock is $18.86.
