Cleveland-Cliffs Inc. [CLF] Revenue clocked in at $3.63 billion, up 19.44% YTD: What’s Next?

Cleveland-Cliffs Inc. [NYSE: CLF] traded at a high on 02/22/21, posting a 2.17 gain after which it closed the day’ session at $17.39. The company report on February 10, 2021 that Cleveland-Cliffs Announces Pricing of Senior Unsecured Guaranteed Notes Issued at Par, $500 million of 4.625% Notes due 2029 and $500 million of 4.875% Notes due 2031.

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Cleveland-Cliffs Inc. (NYSE: CLF) announced that it has priced $500 million aggregate principal amount of Senior Unsecured Guaranteed Notes due 2029 (the “2029 Notes”) and $500 million aggregate principal amount of Senior Unsecured Guaranteed Notes due 2031 (the “2031 Notes” and, together with the 2029 Notes, the “Notes”) in an offering that is exempt from the registration requirements of the Securities Act of 1933 (the “Securities Act”). The 2029 Notes will bear interest at an annual rate of 4.625 percent and will be issued at a price of 100 percent of face value. The 2031 Notes will bear interest at an annual rate of 4.875 percent and will be issued at a price of 100 percent of face value. The Notes will be guaranteed on a senior unsecured basis by the Company’s material direct and indirect wholly-owned domestic subsidiaries, other than certain excluded subsidiaries. The offering is expected to close on February 17, 2021, subject to the satisfaction of customary closing conditions.

The Company intends to use the net proceeds from the offering of the Notes to (i) redeem all of its outstanding 4.875% Senior Secured Notes due 2024 and 6.375% Senior Guaranteed Notes due 2025 and certain notes issued by Cleveland-Cliffs Steel Corporation (f/k/a AK Steel Corporation), including its 7.625% Senior Notes due 2021, 7.50% Senior Notes due 2023 and 6.375% Senior Notes due 2025 and (ii) reduce borrowings under the Company’s existing asset-based revolving credit facility. This news release does not constitute a notice of redemption with respect to any of the notes listed herein.

The results of the trading session contributed to over 24375382 shares changing hands. Over the past one week, the price volatility of Cleveland-Cliffs Inc. stands at 5.45% while the volatility over the past one month is 5.71%.

The market cap for CLF stock reached $8.46 billion, with 399.40 million shares outstanding and 331.35 million shares in the current float. Compared to the average trading volume of 14.94M shares, CLF reached a trading volume of 24375382 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Cleveland-Cliffs Inc. [CLF]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CLF shares is $19.26 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CLF stock is a recommendation set at 2.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Exane BNP Paribas have made an estimate for Cleveland-Cliffs Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on January 19, 2021. The new note on the price target was released on November 20, 2020, representing the official price target for Cleveland-Cliffs Inc. stock. Previously, the target price had yet another raise to $4.50, while Credit Suisse analysts kept a Neutral rating on CLF stock.

The Average True Range (ATR) for Cleveland-Cliffs Inc. is set at 0.98, with the Price to Sales ratio for CLF stock in the period of the last 12 months amounting to 2.33. The Price to Book ratio for the last quarter was 8.57, with the Price to Cash per share for the same quarter was set at 0.12.

How has CLF stock performed recently?

Cleveland-Cliffs Inc. [CLF] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.76. With this latest performance, CLF shares gained by 6.56% in over the last four-week period, additionally plugging by 171.72% over the last 6 months – not to mention a rise of 145.28% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CLF stock in for the last two-week period is set at 57.86, with the RSI for the last a single of trading hit 59.20, and the three-weeks RSI is set at 58.09 for Cleveland-Cliffs Inc. [CLF]. The present Moving Average for the last 50 days of trading for this stock 15.74, while it was recorded at 17.06 for the last single week of trading, and 9.02 for the last 200 days.

Cleveland-Cliffs Inc. [CLF]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Cleveland-Cliffs Inc. [CLF] shares currently have an operating margin of +21.40 and a Gross Margin at +28.79. Cleveland-Cliffs Inc.’s Net Margin is presently recorded at +14.86.

Return on Total Capital for CLF is now 17.01, given the latest momentum, and Return on Invested Capital for the company is 11.81. Return on Equity for this stock inclined to 75.31, with Return on Assets sitting at 7.54. When it comes to the capital structure of this company, Cleveland-Cliffs Inc. [CLF] has a Total Debt to Total Equity ratio set at 590.61. Additionally, CLF Total Debt to Total Capital is recorded at 85.52, with Total Debt to Total Assets ending up at 57.84. Long-Term Debt to Equity for the company is recorded at 590.61, with the Long-Term Debt to Total Capital now at 85.52.

Reflecting on the efficiency of the workforce at the company, Cleveland-Cliffs Inc. [CLF] managed to generate an average of $124,157 per employee. Receivables Turnover for the company is 7.98 with a Total Asset Turnover recorded at a value of 0.51.Cleveland-Cliffs Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 2.20.

Earnings analysis for Cleveland-Cliffs Inc. [CLF]

With the latest financial reports released by the company, Cleveland-Cliffs Inc. posted 0.25/share EPS, while the average EPS was predicted by analysts to be reported at 0.24/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 4.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CLF. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Cleveland-Cliffs Inc. go to 27.43%.

Insider trade positions for Cleveland-Cliffs Inc. [CLF]

There are presently around $5,070 million, or 58.20% of CLF stock, in the hands of institutional investors. The top three institutional holders of CLF stocks are: BLACKROCK INC. with ownership of 60,856,942, which is approximately 3.42% of the company’s market cap and around 1.30% of the total institutional ownership; VANGUARD GROUP INC, holding 40,754,661 shares of the stock with an approximate value of $708.72 million in CLF stocks shares; and FMR LLC, currently with $340.36 million in CLF stock with ownership of nearly 31.466% of the company’s market capitalization.

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Positions in Cleveland-Cliffs Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 168 institutional holders increased their position in Cleveland-Cliffs Inc. [NYSE:CLF] by around 44,170,911 shares. Additionally, 159 investors decreased positions by around 23,014,086 shares, while 58 investors held positions by with 224,364,199 shares. The mentioned changes placed institutional holdings at 291,549,196 shares, according to the latest SEC report filing. CLF stock had 78 new institutional investments in for a total of 17,784,630 shares, while 36 institutional investors sold positions of 5,459,061 shares during the same period.

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