Cleveland-Cliffs Inc. [CLF] Revenue clocked in at $9.04 billion, up 36.88% YTD: What’s Next?

Cleveland-Cliffs Inc. [NYSE: CLF] price plunged by -7.82 percent to reach at -$1.69. The company report on July 16, 2021 that Cleveland-Cliffs Issues Its Comprehensive Sustainability Report for 2020.

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Cleveland-Cliffs Inc. (NYSE: CLF) announced the release of its full Sustainability Report 2020. In response to feedback from many of its stakeholders, Cleveland-Cliffs developed its Sustainability Report 2020 with reference to the widely-used Global Reporting Initiative’s (GRI) comprehensive sustainability reporting framework and Sustainability Accounting Standards Board (SASB) standards. The GRI framework encourages greater transparency from organizations through standardized principles and indicators for tracking and reporting on environmental, social and governance (ESG) performance.

Lourenco Goncalves, Cleveland-Cliffs’ Chairman, President and Chief Executive Officer said, “Throughout our history, Cleveland-Cliffs has taken pride that we operate in a responsible, sustainable manner. We mine iron ore where our employees live, and we produce steel in close proximity to big cities. Among all things, our ability to attract new employees and even our license to continue to exist are fully correlated to our success in being a good neighbor within our local communities.” Mr. Goncalves added, “As we transformed our business in 2020, we developed an integrated, sustainable business model which we believe is the real benchmark in steel production, for the United States and for the rest of the world. That includes natural gas based Direct Reduction; sinter-free blast furnaces using pre-reduced iron as feedstock, along with customized pellets; and, last but not least, Electric Arc Furnaces free from the vast amounts of dirty pig iron originating from highly polluting countries, so common in other EAF operations in the United States.” Mr. Goncalves concluded, “As the largest flat-rolled steel company in North America, we are integral to rebuilding a manufacturing economy in our country that provides good-paying, sustainable jobs for more than 25,000 people, among them nearly 20,000 union jobs. On behalf of the men and women that make Cleveland-Cliffs a great success story, we re-affirm our commitment to sustainability and responsible stewardship, for and for future generations.”.

A sum of 31847736 shares traded at recent session while its average daily volume was at 27.87M shares. Cleveland-Cliffs Inc. shares reached a high of $21.69 and dropped to a low of $19.88 until finishing in the latest session at $19.93.

The one-year CLF stock forecast points to a potential upside of 23.11. The average equity rating for CLF stock is currently 2.30, trading closer to a bullish pattern in the stock market.

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 $25.92 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 2.30. 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.

Argus have made an estimate for Cleveland-Cliffs Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 08, 2021. While these analysts kept the previous recommendation, JP Morgan raised their target price to Overweight. The new note on the price target was released on June 16, 2021, representing the official price target for Cleveland-Cliffs Inc. stock. Previously, the target price had yet another raise to $25, while BofA Securities analysts kept a Buy rating on CLF stock. On May 04, 2021, analysts increased their price target for CLF shares from 21 to 24.

The Average True Range (ATR) for Cleveland-Cliffs Inc. is set at 1.39, with the Price to Sales ratio for CLF stock in the period of the last 12 months amounting to 1.19. The Price to Book ratio for the last quarter was 4.08, with the Price to Cash per share for the same quarter was set at 0.20.

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 -11.66. With this latest performance, CLF shares dropped by -12.05% in over the last four-week period, additionally plugging by 9.81% over the last 6 months – not to mention a rise of 242.44% 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 42.52, with the RSI for the last a single of trading hit 36.67, and the three-weeks RSI is set at 45.95 for Cleveland-Cliffs Inc. [CLF]. The present Moving Average for the last 50 days of trading for this stock 20.88, while it was recorded at 21.85 for the last single week of trading, and 15.64 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

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 $6,526 million, or 66.50% 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 $843.86 million in CLF stocks shares; and FMR LLC, currently with $586.23 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 July and at the time of the July reporting period, where 245 institutional holders increased their position in Cleveland-Cliffs Inc. [NYSE:CLF] by around 68,045,692 shares. Additionally, 158 investors decreased positions by around 37,421,118 shares, while 44 investors held positions by with 221,973,375 shares. The mentioned changes placed institutional holdings at 327,440,185 shares, according to the latest SEC report filing. CLF stock had 102 new institutional investments in for a total of 13,912,577 shares, while 51 institutional investors sold positions of 6,592,094 shares during the same period.

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