Market Analysts see Cleveland-Cliffs Inc. [CLF] gaining to $14.30. Time to buy?

Cleveland-Cliffs Inc. [NYSE: CLF] price surged by 7.78 percent to reach at $1.18. The company report on October 12, 2022 that Cleveland-Cliffs Announces Ratification of New Labor Agreement with the USW Covering 12,000 Union Members.


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Cleveland-Cliffs Inc. (NYSE: CLF) announced today that its new labor agreement with the United Steelworkers (USW) has been ratified. The contract covers approximately 12,000 USW-represented employees at 13 operating locations, and has a 4-year duration from its starting date of September 1, 2022. Combined with the previously ratified labor agreement covering 2,000 USW-represented employees at the Company’s mining and pelletizing operations, Cliffs and the USW have concluded the renegotiating cycle with contracts valid through September of 2026.

Lourenco Goncalves, Chairman, President and CEO said, “Cleveland-Cliffs is a people oriented company. These labor agreements, covering more than half of our entire workforce, support that statement. Our workforce has made these past two years possible, including navigating a monumental transformation and growth, overcoming the challenges of a pandemic, and adapting to an ever-changing business climate. Going forward, we will continue to promote our employees’ well-being as the basis of our success, for the benefit of our clients and our long-term shareholders.”.

A sum of 15637865 shares traded at recent session while its average daily volume was at 13.31M shares. Cleveland-Cliffs Inc. shares reached a high of $16.4571 and dropped to a low of $15.17 until finishing in the latest session at $16.34.

The one-year CLF stock forecast points to a potential upside of 20.99. The average equity rating for CLF stock is currently 2.50, 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 $20.68 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 2.50. 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.

Exane BNP Paribas have made an estimate for Cleveland-Cliffs Inc. shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on October 18, 2022. The new note on the price target was released on January 11, 2022, representing the official price target for Cleveland-Cliffs Inc. stock. Previously, the target price had yet another raise to $30, while Wolfe Research analysts kept a Outperform rating on CLF stock. On October 06, 2021, analysts decreased their price target for CLF shares from 26 to 24.

The Average True Range (ATR) for Cleveland-Cliffs Inc. is set at 0.81, with the Price to Sales ratio for CLF stock in the period of the last 12 months amounting to 0.38. The Price to Book ratio for the last quarter was 1.27, with the Price to Cash per share for the same quarter was set at 0.09. Price to Free Cash Flow for CLF in the course of the last twelve months was 2.82 with Quick ratio for the last quarter at 0.70.

CLF Stock Performance Analysis:

Cleveland-Cliffs Inc. [CLF] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 13.08. With this latest performance, CLF shares gained by 15.89% in over the last four-week period, additionally sinking by -43.56% over the last 6 months – not to mention a drop of -22.78% 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 58.34, with the RSI for the last a single of trading hit 62.17, and the three-weeks RSI is set at 52.40 for Cleveland-Cliffs Inc. [CLF]. The present Moving Average for the last 50 days of trading for this stock 16.19, while it was recorded at 15.21 for the last single week of trading, and 20.60 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 +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.

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 $5,259 million, or 63.50% of CLF stock, in the hands of institutional investors. The top three institutional holders of CLF stocks are: BLACKROCK INC. with ownership of 53,000,707, which is approximately 34.843% of the company’s market cap and around 0.30% of the total institutional ownership; VANGUARD GROUP INC, holding 45,369,745 shares of the stock with an approximate value of $741.34 million in CLF stocks shares; and FMR LLC, currently with $365.88 million in CLF stock with ownership of nearly 5.087% of the company’s market capitalization.

Positions in Cleveland-Cliffs Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 331 institutional holders increased their position in Cleveland-Cliffs Inc. [NYSE:CLF] by around 52,828,901 shares. Additionally, 326 investors decreased positions by around 55,066,144 shares, while 84 investors held positions by with 213,944,297 shares. The mentioned changes placed institutional holdings at 321,839,342 shares, according to the latest SEC report filing. CLF stock had 102 new institutional investments in for a total of 7,855,382 shares, while 134 institutional investors sold positions of 24,609,968 shares during the same period.

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