Cleveland-Cliffs Inc. [CLF] Stock trading around $15.16 per share: What’s Next?

Cleveland-Cliffs Inc. [NYSE: CLF] slipped around -0.35 points on Tuesday, while shares priced at $15.16 at the close of the session, down -2.26%. The company report on August 29, 2023 at 9:55 PM that Cleveland-Cliffs and the United Steelworkers Reach Tentative Labor Agreement for Northshore Mining Operations.

Cleveland-Cliffs Inc. (NYSE: CLF) announced today that it has reached a tentative agreement with the United Steelworkers (USW) on a new 3-year labor agreement. The new contract will cover approximately 430 USW-represented workers at Cliffs’ Northshore Mine in Minnesota.

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Lourenco Goncalves, Chairman, President and CEO, stated, “The United Steelworkers have demonstrated their unwavering support of Cleveland-Cliffs throughout the years, and this new labor agreement for Northshore further strengthens our collaborative partnership. We look forward to working together with our new USW partners at Northshore and continuing to build a strong workforce for our present and future competitiveness.”.

Cleveland-Cliffs Inc. stock is now -5.90% down from its year-to-date (YTD) trading value. CLF Stock saw the intraday high of $15.49 and lowest of $15.11 per share. The company’s 52-week high price is 22.83, which means current price is +11.39% above from all time high which was touched on 03/03/23.

Compared to the average trading volume of 9.24M shares, CLF reached a trading volume of 6600309 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 $19.18 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 2.40. 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.

JP Morgan have made an estimate for Cleveland-Cliffs Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on May 23, 2023.

The Average True Range (ATR) for Cleveland-Cliffs Inc. is set at 0.53, with the Price to Sales ratio for CLF stock in the period of the last 12 months amounting to 0.35. The Price to Book ratio for the last quarter was 1.00, with the Price to Cash per share for the same quarter was set at 0.07. Price to Free Cash Flow for CLF in the course of the last twelve months was 7.05 with Quick ratio for the last quarter at 0.70.

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 3.20. With this latest performance, CLF shares dropped by -6.13% in over the last four-week period, additionally sinking by -30.55% over the last 6 months – not to mention a drop of -8.73% 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 46.11, with the RSI for the last a single of trading hit 47.54, and the three-weeks RSI is set at 45.97 for Cleveland-Cliffs Inc. [CLF]. The present Moving Average for the last 50 days of trading for this stock 16.09, while it was recorded at 15.26 for the last single week of trading, and 17.09 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 +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 0.70 and a Current Ratio set at 2.10.

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

The top three institutional holders of CLF stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in CLF stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in CLF stock with ownership which is approximately 5.7381%.

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