Wolfe Research slashes price target on Cleveland-Cliffs Inc. [CLF] – find out why.


Cleveland-Cliffs Inc. [NYSE: CLF] gained 4.48% or 0.76 points to close at $17.71 with a heavy trading volume of 13227204 shares. The company report on July 22, 2022 that Cleveland-Cliffs Reports Second-Quarter 2022 Results.

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Second-quarter revenue of $6.3 billion.

It opened the trading session at $17.19, the shares rose to $17.75 and dropped to $16.93, the range by which the price of stock traded the whole day. The daily chart for CLF points out that the company has recorded 9.25% gains over the past six months. However, it is still -23.76% lower than its most recent low trading price.

If we look at the average trading volume of 18.25M shares, CLF reached to a volume of 13227204 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 $22.43 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 0.89, with the Price to Sales ratio for CLF stock in the period of the last 12 months amounting to 0.36. The Price to Book ratio for the last quarter was 1.38, with the Price to Cash per share for the same quarter was set at 0.10. Price to Free Cash Flow for CLF in the course of the last twelve months was 2.71 with Quick ratio for the last quarter at 0.70.

Trading performance analysis for CLF stock

Cleveland-Cliffs Inc. [CLF] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 13.38. With this latest performance, CLF shares gained by 13.16% in over the last four-week period, additionally plugging by 9.25% over the last 6 months – not to mention a drop of -28.76% 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 55.99, with the RSI for the last a single of trading hit 63.90, and the three-weeks RSI is set at 50.47 for Cleveland-Cliffs Inc. [CLF]. The present Moving Average for the last 50 days of trading for this stock 18.37, while it was recorded at 16.84 for the last single week of trading, and 22.13 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 +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 0.70 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 $5,635 million, or 62.80% 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 $696.1 million in CLF stocks shares; and FMR LLC, currently with $377.36 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 July and at the time of the July reporting period, where 384 institutional holders increased their position in Cleveland-Cliffs Inc. [NYSE:CLF] by around 66,149,058 shares. Additionally, 278 investors decreased positions by around 49,505,012 shares, while 74 investors held positions by with 202,523,861 shares. The mentioned changes placed institutional holdings at 318,177,931 shares, according to the latest SEC report filing. CLF stock had 158 new institutional investments in for a total of 24,898,691 shares, while 89 institutional investors sold positions of 14,447,370 shares during the same period.