Cleveland-Cliffs Inc. [NYSE: CLF] gained 5.21% or 0.89 points to close at $17.98 with a heavy trading volume of 22920960 shares. The company report on April 22, 2021 that Cleveland-Cliffs Reports First-Quarter 2021 Results and Increases Guidance for Full-Year 2021 Adjusted EBITDA to $4 Billion.
Cleveland-Cliffs Inc. (NYSE: CLF) reported first-quarter results for the period ended March 31, 2021.
First-quarter 2021 consolidated revenues were $4.0 billion, compared to the prior-year first-quarter revenues of $359 million.
It opened the trading session at $17.30, the shares rose to $18.04 and dropped to $17.02, the range by which the price of stock traded the whole day. The daily chart for CLF points out that the company has recorded 125.03% gains over the past six months. However, it is still -388.59% lower than its most recent low trading price.
If we look at the average trading volume of 20.70M shares, CLF reached to a volume of 22920960 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $20.38 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 Neutral, with their previous recommendation back on April 19, 2021. While these analysts kept the previous recommendation, Goldman raised their target price to Neutral. The new note on the price target was released on April 09, 2021, representing the official price target for Cleveland-Cliffs Inc. stock.
The Average True Range (ATR) for Cleveland-Cliffs Inc. is set at 1.16, with the Price to Sales ratio for CLF stock in the period of the last 12 months amounting to 0.94. The Price to Book ratio for the last quarter was 3.75, with the Price to Cash per share for the same quarter was set at 0.24.
Trading performance analysis for CLF stock
Cleveland-Cliffs Inc. [CLF] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.06. With this latest performance, CLF shares gained by 23.07% in over the last four-week period, additionally plugging by 125.03% over the last 6 months – not to mention a rise of 358.67% 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 54.65, with the RSI for the last a single of trading hit 55.69, and the three-weeks RSI is set at 54.31 for Cleveland-Cliffs Inc. [CLF]. The present Moving Average for the last 50 days of trading for this stock 16.64, while it was recorded at 17.22 for the last single week of trading, and 11.43 for the last 200 days.
Cleveland-Cliffs Inc. [CLF]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Cleveland-Cliffs Inc. [CLF] shares currently have an operating margin of +3.00 and a Gross Margin at +6.98. Cleveland-Cliffs Inc.’s Net Margin is presently recorded at -2.35.
Return on Total Capital for CLF is now 2.72, given the latest momentum, and Return on Invested Capital for the company is -2.22. Return on Equity for this stock declined to -7.90, with Return on Assets sitting at -1.20. When it comes to the capital structure of this company, Cleveland-Cliffs Inc. [CLF] has a Total Debt to Total Equity ratio set at 217.31. Additionally, CLF Total Debt to Total Capital is recorded at 68.48, with Total Debt to Total Assets ending up at 35.71. Long-Term Debt to Equity for the company is recorded at 289.64, with the Long-Term Debt to Total Capital now at 66.84.
Reflecting on the efficiency of the workforce at the company, Cleveland-Cliffs Inc. [CLF] managed to generate an average of -$4,920 per employee. Receivables Turnover for the company is 7.78 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 0.50 and a Current Ratio set at 1.80.
Cleveland-Cliffs Inc. [CLF]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Cleveland-Cliffs Inc. posted -0.28/share EPS, while the average EPS was predicted by analysts to be reported at -0.5/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 44.00%. 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%.
An analysis of insider ownership at Cleveland-Cliffs Inc. [CLF]
There are presently around $5,352 million, or 60.40% 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 1.40% of the total institutional ownership; VANGUARD GROUP INC, holding 40,754,661 shares of the stock with an approximate value of $732.77 million in CLF stocks shares; and FMR LLC, currently with $351.91 million in CLF stock with ownership of nearly 31.466% of the company’s market capitalization.
Positions in Cleveland-Cliffs Inc. stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 174 institutional holders increased their position in Cleveland-Cliffs Inc. [NYSE:CLF] by around 45,867,186 shares. Additionally, 157 investors decreased positions by around 23,155,390 shares, while 58 investors held positions by with 228,654,969 shares. The mentioned changes placed institutional holdings at 297,677,545 shares, according to the latest SEC report filing. CLF stock had 81 new institutional investments in for a total of 19,042,391 shares, while 35 institutional investors sold positions of 5,338,707 shares during the same period.