Cleveland-Cliffs Inc. [NYSE: CLF] jumped around 1.48 points on Friday, while shares priced at $24.44 at the close of the session, up 6.45%. The company report on June 9, 2021 that Cleveland-Cliffs Holds Ribbon Cutting Ceremony at Direct Reduction Plant in Toledo.
Cleveland-Cliffs Inc. (NYSE: CLF) is celebrating the initial six months of continued operation and production of hot-briquetted iron (HBI) at the Company’s state-of-the art Direct Reduction plant in Toledo, Ohio. Cliffs’ Chairman, President and Chief Executive Officer Lourenco Goncalves will host Ohio Governor Mike DeWine for a ribbon cutting ceremony on site. The plant employs nearly 160 employees.
Cleveland-Cliffs will be live streaming the ribbon cutting event from the Direct Reduction facility, June 9, at 10:00 AM ET. The live broadcast is accessible via Cleveland-Cliffs’ YouTube channel at https://www.youtube.com/c/ClevelandCliffsInc or via a link on the homepage of Cleveland-Cliffs’ website at www.clevelandcliffs.com.
Cleveland-Cliffs Inc. stock is now 67.86% up from its year-to-date (YTD) trading value. CLF Stock saw the intraday high of $24.57 and lowest of $23.30 per share. The company’s 52-week high price is 24.77, which means current price is +91.39% above from all time high which was touched on 06/10/21.
Compared to the average trading volume of 23.38M shares, CLF reached a trading volume of 57499779 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 $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 1.43, with the Price to Sales ratio for CLF stock in the period of the last 12 months amounting to 1.27. The Price to Book ratio for the last quarter was 5.01, with the Price to Cash per share for the same quarter was set at 0.23.
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 23.00. With this latest performance, CLF shares gained by 22.38% in over the last four-week period, additionally plugging by 93.05% over the last 6 months – not to mention a rise of 336.43% 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 71.34, with the RSI for the last a single of trading hit 77.37, and the three-weeks RSI is set at 67.28 for Cleveland-Cliffs Inc. [CLF]. The present Moving Average for the last 50 days of trading for this stock 19.26, while it was recorded at 22.05 for the last single week of trading, and 13.82 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 +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.
Earnings analysis for Cleveland-Cliffs Inc. [CLF]
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%.
Insider trade positions for Cleveland-Cliffs Inc. [CLF]
There are presently around $8,007 million, or 66.30% 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 $1.03 billion in CLF stocks shares; and FMR LLC, currently with $718.89 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 235 institutional holders increased their position in Cleveland-Cliffs Inc. [NYSE:CLF] by around 68,592,775 shares. Additionally, 162 investors decreased positions by around 37,694,522 shares, while 45 investors held positions by with 221,318,673 shares. The mentioned changes placed institutional holdings at 327,605,970 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.