Cleveland-Cliffs Inc. [CLF] Stock trading around $19.87 per share: What’s Next?

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Cleveland-Cliffs Inc. [NYSE: CLF] loss -0.65% or -0.13 points to close at $19.87 with a heavy trading volume of 12827451 shares. The company report on May 27, 2021 that Cleveland-Cliffs to Fully Redeem 5.75% Senior Notes due 2025.

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Cleveland-Cliffs Inc. (NYSE: CLF) announced that it intends to redeem the entirety of its $396 million aggregate principal amount of outstanding 5.75% Senior Unsecured Guaranteed Notes due March 2025. Pursuant to the terms of the Notes and the Indenture governing the Notes, the Company expects the total payment to holders of the Notes including the redemption premium to be approximately $407 million, plus accrued and unpaid interest to the redemption date, which is expected to be on or before June 30, 2021. The Notes will be redeemed with available liquidity.

Lourenco Goncalves, Cliffs’ Chairman, President and Chief Executive Officer said, “Our business continues to generate consistent and strong cash flow, and we anticipate this trend to continue for the foreseeable future. With that, we don’t need to wait any longer to accelerate our deleveraging plan. The redemption of these notes using available liquidity, nearly four years ahead of their maturity date, represents the first step in our mission to achieve zero net debt. Going forward, deleveraging will remain our top priority.”.

It opened the trading session at $20.23, the shares rose to $20.37 and dropped to $19.8374, the range by which the price of stock traded the whole day. The daily chart for CLF points out that the company has recorded 59.47% gains over the past six months. However, it is still -303.86% lower than its most recent low trading price.

If we look at the average trading volume of 21.72M shares, CLF reached to a volume of 12827451 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 $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 1.12, with the Price to Sales ratio for CLF stock in the period of the last 12 months amounting to 1.10. The Price to Book ratio for the last quarter was 4.07, with the Price to Cash per share for the same quarter was set at 0.22.

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 -1.63. With this latest performance, CLF shares dropped by -1.63% in over the last four-week period, additionally plugging by 59.47% over the last 6 months – not to mention a rise of 235.08% 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 53.64, with the RSI for the last a single of trading hit 53.34, and the three-weeks RSI is set at 53.95 for Cleveland-Cliffs Inc. [CLF]. The present Moving Average for the last 50 days of trading for this stock 18.77, while it was recorded at 20.12 for the last single week of trading, and 13.42 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 0.70 and a Current Ratio set at 2.00.

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 $6,510 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 $841.32 million in CLF stocks shares; and FMR LLC, currently with $584.47 million in CLF stock with ownership of nearly 50.287% 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 April and at the time of the April reporting period, where 235 institutional holders increased their position in Cleveland-Cliffs Inc. [NYSE:CLF] by around 68,592,775 shares. Additionally, 161 investors decreased positions by around 37,693,522 shares, while 46 investors held positions by with 221,320,673 shares. The mentioned changes placed institutional holdings at 327,606,970 shares, according to the latest SEC report filing. CLF stock had 99 new institutional investments in for a total of 14,229,169 shares, while 51 institutional investors sold positions of 6,536,117 shares during the same period.

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