why Cleveland-Cliffs Inc. [CLF] is a Good Choice for Investors After New Price Target of $21.96

Cleveland-Cliffs Inc. [NYSE: CLF] loss -1.25% or -0.22 points to close at $17.43 with a heavy trading volume of 9561676 shares. The company report on March 15, 2023 that Cleveland-Cliffs and Its Employees Donate to Address Food Insecurity in more than 45 Communities Across North America.

Cleveland-Cliffs Inc. (NYSE: CLF) announced today that it continues to address food insecurity as one of its key areas of social responsibility. The Company held its third annual Souper Bowl Food Drive across all of its operations earlier this year and collected 240,000 pounds of non-perishable food items. In conjunction with the food donations, Cleveland-Cliffs and The Cleveland-Cliffs Foundation have also made cash contributions totaling $500,000 to more than 48 food distribution organizations in the local communities where the Company operates throughout the United States and Canada. The $500,000 donated by Cleveland-Cliffs and The Cleveland-Cliffs Foundation is estimated to provide more than 5.2 million meals, which is based on guidance from hunger relief organizations in the United States.

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Cleveland-Cliffs’ Chairman, President and Chief Executive Officer, Lourenco Goncalves, said, “We recognize that food insecurity remains a common concern in communities across the United States. As a leader in the North American steel industry and a prominent employer in the regions where we operate, we believe that Cleveland-Cliffs has an important role to play in addressing this need. Cleveland-Cliffs has shown its commitment to address the problem by donating more than $2.5 million over the past three years to organizations working with individuals and families who are food insecure. In addition to the efforts of the Company itself, our employees have once again shown their generosity by donating a remarkable 240,000 pounds of non-perishable food items during our annual food drive.”.

It opened the trading session at $17.20, the shares rose to $17.57 and dropped to $17.015, the range by which the price of stock traded the whole day. The daily chart for CLF points out that the company has recorded 23.62% gains over the past six months. However, it is still -47.46% lower than its most recent low trading price.

If we look at the average trading volume of 10.61M shares, CLF reached to a volume of 9561676 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 $21.96 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 2.40. 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 March 20, 2023. The new note on the price target was released on January 25, 2023, representing the official price target for Cleveland-Cliffs Inc. stock. Previously, the target price had yet another raise from $13.60 to $26, while Morgan Stanley kept a Overweight 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 0.40. The Price to Book ratio for the last quarter was 1.15, with the Price to Cash per share for the same quarter was set at 0.05. Price to Free Cash Flow for CLF in the course of the last twelve months was 6.14 with Quick ratio for the last quarter at 0.60.

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 0.40. With this latest performance, CLF shares dropped by -13.41% in over the last four-week period, additionally plugging by 23.62% over the last 6 months – not to mention a drop of -40.23% 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 35.83, with the RSI for the last a single of trading hit 32.11, and the three-weeks RSI is set at 39.62 for Cleveland-Cliffs Inc. [CLF]. The present Moving Average for the last 50 days of trading for this stock 20.23, while it was recorded at 17.82 for the last single week of trading, and 17.15 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 +7.46 and a Gross Margin at +9.84. Cleveland-Cliffs Inc.’s Net Margin is presently recorded at +5.79.

Return on Total Capital for CLF is now 14.11, given the latest momentum, and Return on Invested Capital for the company is 11.34. Return on Equity for this stock inclined to 20.06, with Return on Assets sitting at 7.06. When it comes to the capital structure of this company, Cleveland-Cliffs Inc. [CLF] has a Total Debt to Total Equity ratio set at 60.35. Additionally, CLF Total Debt to Total Capital is recorded at 37.64, with Total Debt to Total Assets ending up at 25.07. Long-Term Debt to Equity for the company is recorded at 58.61, with the Long-Term Debt to Total Capital now at 36.55.

Reflecting on the efficiency of the workforce at the company, Cleveland-Cliffs Inc. [CLF] managed to generate an average of $49,333 per employee. Receivables Turnover for the company is 11.18 with a Total Asset Turnover recorded at a value of 1.22.Cleveland-Cliffs Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 2.10.

An analysis of insider ownership at Cleveland-Cliffs Inc. [CLF]

There are presently around $5,972 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 54,412,072, which is approximately 0.561% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 50,252,165 shares of the stock with an approximate value of $875.89 million in CLF stocks shares; and STATE STREET CORP, currently with $404.59 million in CLF stock with ownership of nearly 12.6% of the company’s market capitalization.

Positions in Cleveland-Cliffs Inc. stocks held by institutional investors increased at the end of Monday and at the time of the Monday reporting period, where 308 institutional holders increased their position in Cleveland-Cliffs Inc. [NYSE:CLF] by around 32,012,209 shares. Additionally, 297 investors decreased positions by around 32,432,167 shares, while 97 investors held positions by with 278,165,629 shares. The mentioned changes placed institutional holdings at 342,610,005 shares, according to the latest SEC report filing. CLF stock had 108 new institutional investments in for a total of 12,865,981 shares, while 76 institutional investors sold positions of 6,179,240 shares during the same period.


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