Cleveland-Cliffs Inc. [NYSE: CLF] traded at a high on 07/23/21, posting a 2.42 gain after which it closed the day’ session at $21.58. The company report on July 22, 2021 that Cleveland-Cliffs Reports Record Second-Quarter 2021 Results.
Record quarterly revenue of $5.0 billion.
Record quarterly net income of $795 million.
The results of the trading session contributed to over 22473772 shares changing hands. Over the past one week, the price volatility of Cleveland-Cliffs Inc. stands at 6.50% while the volatility over the past one month is 5.67%.
The market cap for CLF stock reached $10.52 billion, with 490.00 million shares outstanding and 455.04 million shares in the current float. Compared to the average trading volume of 28.96M shares, CLF reached a trading volume of 22473772 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 $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 1.29, with the Price to Sales ratio for CLF stock in the period of the last 12 months amounting to 0.81. The Price to Book ratio for the last quarter was 4.42, 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 8.28. With this latest performance, CLF shares gained by 2.08% in over the last four-week period, additionally plugging by 31.59% over the last 6 months – not to mention a rise of 275.30% 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 52.28, with the RSI for the last a single of trading hit 53.43, and the three-weeks RSI is set at 52.30 for Cleveland-Cliffs Inc. [CLF]. The present Moving Average for the last 50 days of trading for this stock 20.87, while it was recorded at 20.63 for the last single week of trading, and 15.98 for the last 200 days.
Cleveland-Cliffs Inc. [CLF]: Deeper insight into the fundamentals
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]
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 $7,076 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 $913.72 million in CLF stocks shares; and FMR LLC, currently with $634.77 million in CLF stock with ownership of nearly 50.287% of the company’s market capitalization.
250 institutional holders increased their position in Cleveland-Cliffs Inc. [NYSE:CLF] by around 67,899,653 shares. Additionally, 159 investors decreased positions by around 37,572,096 shares, while 43 investors held positions by with 222,437,243 shares. The mentioned changes placed institutional holdings at 327,908,992 shares, according to the latest SEC report filing. CLF stock had 101 new institutional investments in for a total of 13,421,371 shares, while 52 institutional investors sold positions of 6,773,874 shares during the same period.