Cleveland-Cliffs Inc. [CLF] Revenue clocked in at $22.35 billion, up 5.56% YTD: What’s Next?


Cleveland-Cliffs Inc. [NYSE: CLF] closed the trading session at $22.98 on 06/03/22. The day’s price range saw the stock hit a low of $22.5735, while the highest price level was $23.29. The company report on May 23, 2022 that Cleveland-Cliffs Ranked 171 on Fortune 500 list for 2022.

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Cleveland-Cliffs Inc. (NYSE: CLF) announced today that it was named to the Fortune 500 list for the first time since its transformation from a mining company to become the largest flat-rolled steel company and the largest supplier of steel to the automotive industry in North America. Cleveland-Cliffs’ 2021 revenue of $20.4 billion earned Cleveland-Cliffs the ranking of 171 on the list for 2022, surpassing its previous highest ranking ever of 366 in 2012. The Fortune 500 list ranks companies that are incorporated and operate in the U.S. by total revenues for their respective fiscal years.

Lourenco Goncalves, Cleveland-Cliffs’ Chairman, President, and CEO said, “Our inclusion on this year’s Fortune list of companies — particularly our position well within the 200 largest ones — is another demonstration of our remarkable transformation. Despite all the challenges imposed by the COVID-19 pandemic and the long lasting consequences to supply chains still affecting our clients as of today, we grew tenfold in just two years, from $2 billion in revenues in 2019 to over $20 billion in revenues in 2021.” Mr. Goncalves added: “We have an incredible workforce of 26,000 employees, with almost 20,000 of them represented by Unions. We thank each one of our employees and the support from our Union partners for making our vision a reality in a such short period of time.”.

The stocks have a year to date performance of 5.56 percent and weekly performance of -2.05 percent. The stock has been moved at 14.16 percent over the last six months. The stock has performed -14.92 percent around the most recent 30 days and changed -11.45 percent over the most recent 3-months.

If compared to the average trading volume of 21.60M shares, CLF reached to a volume of 12371962 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $32.76 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 2.20. 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.

Wolfe Research have made an estimate for Cleveland-Cliffs Inc. shares, keeping their opinion on the stock as Peer Perform, with their previous recommendation back on January 11, 2022. While these analysts kept the previous recommendation, Wolfe Research raised their target price to Outperform. The new note on the price target was released on November 17, 2021, representing the official price target for Cleveland-Cliffs Inc. stock. Previously, the target price had yet another drop from $26 to $24, while Goldman kept a Buy rating on CLF stock.

The Average True Range (ATR) for Cleveland-Cliffs Inc. is set at 1.33, with the Price to Sales ratio for CLF stock in the period of the last 12 months amounting to 0.55. The Price to Book ratio for the last quarter was 1.89, with the Price to Cash per share for the same quarter was set at 0.07. Price to Free Cash Flow for CLF in the course of the last twelve months was 4.27 with Quick ratio for the last quarter at 0.80.

CLF stock trade performance evaluation

Cleveland-Cliffs Inc. [CLF] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.05. With this latest performance, CLF shares dropped by -14.92% in over the last four-week period, additionally plugging by 14.16% over the last 6 months – not to mention a rise of 15.65% 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 44.30, with the RSI for the last a single of trading hit 46.27, and the three-weeks RSI is set at 44.13 for Cleveland-Cliffs Inc. [CLF]. The present Moving Average for the last 50 days of trading for this stock 27.02, while it was recorded at 23.54 for the last single week of trading, and 23.12 for the last 200 days.

Cleveland-Cliffs Inc. [CLF]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Cleveland-Cliffs Inc. [CLF] shares currently have an operating margin of +20.36 and a Gross Margin at +21.88. Cleveland-Cliffs Inc.’s Net Margin is presently recorded at +14.60.

Return on Equity for this stock inclined to 72.40, with Return on Assets sitting at 16.70.

Cleveland-Cliffs Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 2.30.

Earnings per share (EPS) analysis for Cleveland-Cliffs Inc. [CLF] stock

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 Ownership positions

There are presently around $7,405 million, or 61.30% of CLF stock, in the hands of institutional investors. The top three institutional holders of CLF stocks are: VANGUARD GROUP INC with ownership of 44,506,741, which is approximately 5.389% of the company’s market cap and around 1.70% of the total institutional ownership; BLACKROCK INC., holding 39,305,375 shares of the stock with an approximate value of $903.24 million in CLF stocks shares; and FMR LLC, currently with $489.65 million in CLF stock with ownership of nearly -12.049% 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 387 institutional holders increased their position in Cleveland-Cliffs Inc. [NYSE:CLF] by around 69,326,543 shares. Additionally, 280 investors decreased positions by around 43,739,319 shares, while 68 investors held positions by with 209,177,374 shares. The mentioned changes placed institutional holdings at 322,243,236 shares, according to the latest SEC report filing. CLF stock had 170 new institutional investments in for a total of 26,203,795 shares, while 85 institutional investors sold positions of 8,134,116 shares during the same period.