Cleveland-Cliffs Inc. [NYSE: CLF] loss -3.26% or -0.76 points to close at $22.58 with a heavy trading volume of 26728351 shares. The company report on August 30, 2021 that Cleveland-Cliffs Announces Executive Management Promotions.
Cleveland-Cliffs Inc. (NYSE: CLF) announced the promotion of three key leaders at the executive level, effective September 1, 2021. The announcement comes as Cliffs seeks to broaden its already robust raw material portfolio by expanding its scrap recycling presence, an activity that will fall under a newly created division named Cleveland-Cliffs Services. The ongoing steel business stays within Cleveland-Cliffs Steel, an already existing Cleveland-Cliffs Inc.’s division.
Clifford T. Smith, currently EVP, Chief Operating Officer, has been promoted to EVP & President, Cleveland-Cliffs Steel. He will continue to lead operations and commercial for all business segments including Steelmaking, Tooling and Stamping, and Tubular Components.
It opened the trading session at $23.54, the shares rose to $23.625 and dropped to $22.11, the range by which the price of stock traded the whole day. The daily chart for CLF points out that the company has recorded 32.12% gains over the past six months. However, it is still -312.04% lower than its most recent low trading price.
If we look at the average trading volume of 26.76M shares, CLF reached to a volume of 26728351 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 $29.59 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.
Morgan Stanley have made an estimate for Cleveland-Cliffs Inc. shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on August 11, 2021. While these analysts kept the previous recommendation, Argus raised their target price to Buy. The new note on the price target was released on July 08, 2021, representing the official price target for Cleveland-Cliffs Inc. stock. Previously, the target price had yet another raise to $39, while JP Morgan analysts kept a Overweight rating on CLF stock.
The Average True Range (ATR) for Cleveland-Cliffs Inc. is set at 1.11, with the Price to Sales ratio for CLF stock in the period of the last 12 months amounting to 0.87. The Price to Book ratio for the last quarter was 3.49, with the Price to Cash per share for the same quarter was set at 0.15.
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 -5.56. With this latest performance, CLF shares dropped by -12.21% in over the last four-week period, additionally plugging by 32.12% over the last 6 months – not to mention a rise of 271.38% 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 41.58, with the RSI for the last a single of trading hit 34.69, and the three-weeks RSI is set at 45.70 for Cleveland-Cliffs Inc. [CLF]. The present Moving Average for the last 50 days of trading for this stock 23.29, while it was recorded at 23.28 for the last single week of trading, and 18.75 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 0.80 and a Current Ratio set at 2.20.
Cleveland-Cliffs Inc. [CLF]: An earnings per share (EPS) analysis
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 $7,983 million, or 73.10% of CLF stock, in the hands of institutional investors. The top three institutional holders of CLF stocks are: VANGUARD GROUP INC with ownership of 42,028,209, which is approximately -0.739% of the company’s market cap and around 1.20% of the total institutional ownership; FMR LLC, holding 41,512,797 shares of the stock with an approximate value of $937.36 million in CLF stocks shares; and BLACKROCK INC., currently with $872.63 million in CLF stock with ownership of nearly -29.154% of the company’s market capitalization.
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 297 institutional holders increased their position in Cleveland-Cliffs Inc. [NYSE:CLF] by around 91,478,617 shares. Additionally, 184 investors decreased positions by around 64,758,210 shares, while 42 investors held positions by with 197,324,601 shares. The mentioned changes placed institutional holdings at 353,561,428 shares, according to the latest SEC report filing. CLF stock had 134 new institutional investments in for a total of 20,107,377 shares, while 56 institutional investors sold positions of 10,477,439 shares during the same period.