Market cap of Cleveland-Cliffs Inc. [CLF] reaches 8.50B – now what?

Cleveland-Cliffs Inc. [NYSE: CLF] slipped around -0.38 points on Friday, while shares priced at $16.11 at the close of the session, down -2.30%. The company report on December 22, 2022 that Cleveland-Cliffs Achieves Price Increases on Fixed-Price Contracts for 2023.


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Cleveland-Cliffs Inc. (NYSE: CLF) today announced the following updates on its latest commercial and operational developments.

The Company affirmed that, with a large portion of its fixed price contractual volumes already renewed in its most recent negotiating cycles, Cliffs will achieve higher annual fixed prices for steel in the calendar year 2023 compared to 2022. These improved annual fixed prices are independent of the Company’s recently announced price increases on spot steel sales.

Cleveland-Cliffs Inc. stock is now -26.00% down from its year-to-date (YTD) trading value. CLF Stock saw the intraday high of $16.4999 and lowest of $15.925 per share. The company’s 52-week high price is 34.04, which means current price is +36.24% above from all time high which was touched on 04/05/22.

Compared to the average trading volume of 13.26M shares, CLF reached a trading volume of 7479647 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 $17.26 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.

B. Riley Securities have made an estimate for Cleveland-Cliffs Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 23, 2022. While these analysts kept the previous recommendation, UBS raised their target price to Neutral. The new note on the price target was released on December 16, 2022, representing the official price target for Cleveland-Cliffs Inc. stock. Previously, the target price had yet another raise to $12, while Wolfe Research analysts kept a Underperform rating on CLF stock.

The Average True Range (ATR) for Cleveland-Cliffs Inc. is set at 0.82, 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 1.19, 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 4.00 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 -4.79. With this latest performance, CLF shares gained by 4.07% in over the last four-week period, additionally plugging by 2.22% over the last 6 months – not to mention a drop of -24.15% 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 53.06, with the RSI for the last a single of trading hit 52.27, and the three-weeks RSI is set at 52.87 for Cleveland-Cliffs Inc. [CLF]. The present Moving Average for the last 50 days of trading for this stock 15.06, while it was recorded at 16.61 for the last single week of trading, and 19.16 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 $5,443 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 $737.15 million in CLF stocks shares; and FMR LLC, currently with $365.76 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 February and at the time of the February reporting period, where 309 institutional holders increased their position in Cleveland-Cliffs Inc. [NYSE:CLF] by around 41,720,671 shares. Additionally, 270 investors decreased positions by around 21,437,813 shares, while 98 investors held positions by with 274,696,411 shares. The mentioned changes placed institutional holdings at 337,854,895 shares, according to the latest SEC report filing. CLF stock had 71 new institutional investments in for a total of 21,329,643 shares, while 85 institutional investors sold positions of 5,410,618 shares during the same period.

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