Cleveland-Cliffs Inc. [CLF] Is Currently -2.85 below its 200 Period Moving Avg: What Does This Mean?

Cleveland-Cliffs Inc. [NYSE: CLF] traded at a low on 11/18/22, posting a -2.85 loss after which it closed the day’ session at $14.33. The company report on October 25, 2022 that Cleveland-Cliffs Reports Third-Quarter 2022 Results and Announces $1.8 Billion Reduction in Net Pension/OPEB Liabilities.

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Third-quarter revenue of $5.7 billion.

The results of the trading session contributed to over 9159947 shares changing hands. Over the past one week, the price volatility of Cleveland-Cliffs Inc. stands at 4.78% while the volatility over the past one month is 5.61%.

The market cap for CLF stock reached $7.60 billion, with 516.00 million shares outstanding and 508.28 million shares in the current float. Compared to the average trading volume of 13.84M shares, CLF reached a trading volume of 9159947 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 $17.18 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 2.80. 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 Underperform, with their previous recommendation back on November 02, 2022. The new note on the price target was released on October 18, 2022, representing the official price target for Cleveland-Cliffs Inc. stock. Previously, the target price had yet another raise to $23, while Wolfe Research analysts kept a Peer Perform rating on CLF stock.

The Average True Range (ATR) for Cleveland-Cliffs Inc. is set at 0.88, with the Price to Sales ratio for CLF stock in the period of the last 12 months amounting to 0.33. The Price to Book ratio for the last quarter was 1.06, with the Price to Cash per share for the same quarter was set at 0.11. Price to Free Cash Flow for CLF in the course of the last twelve months was 3.58 with Quick ratio for the last quarter at 0.80.

How has CLF stock performed recently?

Cleveland-Cliffs Inc. [CLF] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.16. With this latest performance, CLF shares dropped by -5.47% in over the last four-week period, additionally sinking by -34.24% over the last 6 months – not to mention a drop of -33.29% 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 49.23, with the RSI for the last a single of trading hit 49.29, and the three-weeks RSI is set at 48.48 for Cleveland-Cliffs Inc. [CLF]. The present Moving Average for the last 50 days of trading for this stock 14.55, while it was recorded at 15.07 for the last single week of trading, and 20.04 for the last 200 days.

Cleveland-Cliffs Inc. [CLF]: Deeper insight into the 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 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 $4,908 million, or 67.60% of CLF stock, in the hands of institutional investors. The top three institutional holders of CLF stocks are: BLACKROCK INC. with ownership of 54,108,703, which is approximately 2.091% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 45,757,539 shares of the stock with an approximate value of $655.71 million in CLF stocks shares; and FMR LLC, currently with $325.35 million in CLF stock with ownership of nearly 1.397% 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 312 institutional holders increased their position in Cleveland-Cliffs Inc. [NYSE:CLF] by around 42,466,164 shares. Additionally, 275 investors decreased positions by around 21,707,331 shares, while 97 investors held positions by with 278,334,340 shares. The mentioned changes placed institutional holdings at 342,507,835 shares, according to the latest SEC report filing. CLF stock had 72 new institutional investments in for a total of 21,521,454 shares, while 86 institutional investors sold positions of 5,637,618 shares during the same period.


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