Cleveland-Cliffs Inc. [CLF] Is Currently 2.01 below its 200 Period Moving Avg: What Does This Mean?

Cleveland-Cliffs Inc. [NYSE: CLF] closed the trading session at $17.26. The company report on April 5, 2023 that Cleveland-Cliffs to Announce First-Quarter 2023 Earnings Results on April 24 and Host Conference Call on April 25.

Cleveland-Cliffs Inc. (NYSE: CLF) will announce its first-quarter 2023 earnings results after the U.S. market close on Monday, April 24, 2023.

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The Company invites interested parties to listen to a live broadcast of a conference call with securities analysts and institutional investors to discuss the results on Tuesday, April 25, 2023, at 10:00 am ET. The call can be accessed at and will also be archived and available for replay at that address.

The stocks have a year to date performance of 7.14 percent and weekly performance of -4.59 percent. The stock has been moved at 12.01 percent over the last six months. The stock has performed -18.78 percent around the most recent 30 days and changed -1.93 percent over the most recent 3-months.

If compared to the average trading volume of 10.36M shares, CLF reached to a volume of 9012602 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $22.26 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 2.40. 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 0.79, 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 1.14, 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 5.89 with Quick ratio for the last quarter at 0.60.

CLF stock trade performance evaluation

Cleveland-Cliffs Inc. [CLF] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.59. With this latest performance, CLF shares dropped by -18.78% in over the last four-week period, additionally plugging by 12.01% over the last 6 months – not to mention a drop of -46.96% 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 38.63, with the RSI for the last a single of trading hit 37.26, and the three-weeks RSI is set at 40.89 for Cleveland-Cliffs Inc. [CLF]. The present Moving Average for the last 50 days of trading for this stock 19.70, while it was recorded at 17.68 for the last single week of trading, and 17.12 for the last 200 days.

Cleveland-Cliffs Inc. [CLF]: An insightful look at the core fundamentals

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.

Cleveland-Cliffs Inc. [CLF]: Insider Ownership positions

There are presently around $5,892 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 $867.35 million in CLF stocks shares; and STATE STREET CORP, currently with $400.64 million in CLF stock with ownership of nearly 12.6% of the company’s market capitalization.

300 institutional holders increased their position in Cleveland-Cliffs Inc. [NYSE:CLF] by around 31,291,781 shares. Additionally, 294 investors decreased positions by around 30,786,427 shares, while 97 investors held positions by with 279,278,406 shares. The mentioned changes placed institutional holdings at 341,356,614 shares, according to the latest SEC report filing. CLF stock had 102 new institutional investments in for a total of 12,237,409 shares, while 75 institutional investors sold positions of 4,908,925 shares during the same period.


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