Cleveland-Cliffs Inc. [CLF] is 29.86% higher this YTD. Is it still time to buy?

Cleveland-Cliffs Inc. [NYSE: CLF] traded at a high on 01/13/23, posting a 0.10 gain after which it closed the day’ session at $20.92. The company report on January 13, 2023 that Great Lakes Clean Hydrogen Coalition Encouraged to Submit Full Application by U.S. Department of Energy.


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The Great Lakes Clean Hydrogen coalition (GLCH) today announced it has received encouragement from the U.S. Department of Energy (DOE) to proceed with the development and submittal of their full hydrogen hub application.  The coalition, which is led by Linde (NYSE: LIN; FWB: LIN), Energy Harbor, Cleveland-Cliffs Inc. (NYSE: CLF), GE Aerospace and the University of Toledo, along with the Glass Manufacturing Industry Council (GMIC), was among 79 organizations submitting concept papers to the DOE for development consideration. The proposal, by GLCH, was selected as one of 33 projects encouraged to proceed to the full application process.

GLCH has proposed to develop low-carbon hydrogen via electrolysis based in Oak Harbor, Ohio at Davis-Besse Nuclear Power Station.  The facility proposes to distribute the hydrogen across the Great Lakes region by pipeline and road transportation..

The results of the trading session contributed to over 13588260 shares changing hands. Over the past one week, the price volatility of Cleveland-Cliffs Inc. stands at 3.84% while the volatility over the past one month is 4.78%.

The market cap for CLF stock reached $10.77 billion, with 516.00 million shares outstanding and 508.28 million shares in the current float. Compared to the average trading volume of 13.55M shares, CLF reached a trading volume of 13588260 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 $18.55 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 2.70. 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.

Morgan Stanley have made an estimate for Cleveland-Cliffs Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 12, 2023. While these analysts kept the previous recommendation, BofA Securities raised their target price to Neutral. The new note on the price target was released on January 04, 2023, representing the official price target for Cleveland-Cliffs Inc. stock. Previously, the target price had yet another raise from $26 to $27, while B. Riley Securities 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 0.46. The Price to Book ratio for the last quarter was 1.54, 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 5.07 with Quick ratio for the last quarter at 0.80.

How has CLF stock performed recently?

Cleveland-Cliffs Inc. [CLF] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 12.17. With this latest performance, CLF shares gained by 31.41% in over the last four-week period, additionally plugging by 39.56% over the last 6 months – not to mention a drop of -9.32% 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 74.37, with the RSI for the last a single of trading hit 80.37, and the three-weeks RSI is set at 69.57 for Cleveland-Cliffs Inc. [CLF]. The present Moving Average for the last 50 days of trading for this stock 15.83, while it was recorded at 19.61 for the last single week of trading, and 18.64 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.

Insider trade positions for Cleveland-Cliffs Inc. [CLF]

There are presently around $7,086 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 $957.25 million in CLF stocks shares; and FMR LLC, currently with $474.97 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 312 institutional holders increased their position in Cleveland-Cliffs Inc. [NYSE:CLF] by around 42,554,501 shares. Additionally, 261 investors decreased positions by around 21,060,220 shares, while 103 investors held positions by with 275,117,347 shares. The mentioned changes placed institutional holdings at 338,732,068 shares, according to the latest SEC report filing. CLF stock had 77 new institutional investments in for a total of 22,201,532 shares, while 78 institutional investors sold positions of 5,224,970 shares during the same period.

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