Cleveland-Cliffs Inc. [NYSE: CLF] stock went on an upward path that rose over 2.77% on Monday, amounting to a one-week price decrease of less than -11.15%. The company report on April 28, 2021 that Cleveland-Cliffs Issues Its Sustainability Report 2020 Executive Summary.
Cleveland-Cliffs Inc. (NYSE: CLF) published its Sustainability Report 2020 Executive Summary highlighting the progress toward the achievement of its sustainability goals and reaffirming the company’s agenda to build a more sustainable steel company. Later in the second quarter, the Company will publish its full Sustainability Report 2020 consistent with Global Reporting Initiative (GRI) and Sustainability Accounting Standards Board (SASB) guidance.
Lourenco Goncalves, Chairman, President and Chief Executive Officer said, “Throughout our history, Cleveland-Cliffs has taken pride that we operate in a responsible, sustainable manner and act as a good neighbor within our local communities. As Cleveland-Cliffs expanded its business, our executive leadership team and I focused on developing an integrated, sustainable business model across the entire company. We have a responsibility to use our scale and influence as a leader in this industry to help tackle long-term challenges. Through best Environmental, Social and Governance (ESG) practices and a robust governance structure, we will continue to maintain the highest levels of ethics and integrity to act in the best interests of all our stakeholders.”.
Over the last 12 months, CLF stock rose by 296.58%. The one-year Cleveland-Cliffs Inc. stock forecast points to a potential upside of 21.79. The average equity rating for CLF stock is currently 2.40, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $9.45 billion, with 490.00 million shares outstanding and 455.03 million shares in the current float. Compared to the average trading volume of 23.73M shares, CLF stock reached a trading volume of 19906829 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $23.73 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 2.40. 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.
BofA Securities have made an estimate for Cleveland-Cliffs Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 17, 2021. While these analysts kept the previous recommendation, Credit Suisse raised their target price from $21 to $24. The new note on the price target was released on May 04, 2021, representing the official price target for Cleveland-Cliffs Inc. stock.
The Average True Range (ATR) for Cleveland-Cliffs Inc. is set at 1.30, with the Price to Sales ratio for CLF stock in the period of the last 12 months amounting to 1.05. The Price to Book ratio for the last quarter was 3.80, with the Price to Cash per share for the same quarter was set at 0.22.
CLF Stock Performance Analysis:
Cleveland-Cliffs Inc. [CLF] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.15. With this latest performance, CLF shares gained by 3.23% in over the last four-week period, additionally plugging by 108.77% over the last 6 months – not to mention a rise of 296.58% 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 47.45, with the RSI for the last a single of trading hit 43.64, and the three-weeks RSI is set at 49.72 for Cleveland-Cliffs Inc. [CLF]. The present Moving Average for the last 50 days of trading for this stock 18.17, while it was recorded at 18.86 for the last single week of trading, and 12.88 for the last 200 days.
Insight into Cleveland-Cliffs Inc. Fundamentals:
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 0.70 and a Current Ratio set at 2.00.
CLF Stock EPS
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%.
Cleveland-Cliffs Inc. [CLF] Insider Position Details
There are presently around $6,081 million, or 66.40% of CLF stock, in the hands of institutional investors. The top three institutional holders of CLF stocks are: BLACKROCK INC. with ownership of 54,549,450, which is approximately -10.364% of the company’s market cap and around 1.50% of the total institutional ownership; VANGUARD GROUP INC, holding 42,341,247 shares of the stock with an approximate value of $785.85 million in CLF stocks shares; and FMR LLC, currently with $545.93 million in CLF stock with ownership of nearly 50.287% 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 233 institutional holders increased their position in Cleveland-Cliffs Inc. [NYSE:CLF] by around 68,579,014 shares. Additionally, 161 investors decreased positions by around 37,763,419 shares, while 47 investors held positions by with 221,271,226 shares. The mentioned changes placed institutional holdings at 327,613,659 shares, according to the latest SEC report filing. CLF stock had 98 new institutional investments in for a total of 14,216,958 shares, while 51 institutional investors sold positions of 6,536,117 shares during the same period.