Cleveland-Cliffs Inc [NYSE: CLF] stock went on an upward path that rose over 1.40% on Monday, amounting to a one-week price increase of more than 7.29%. The company report on October 31, 2023 at 7:00 AM that Cleveland-Cliffs Announces Price Increase for Hot Rolled, Cold Rolled and Coated Steel Products.
Cleveland-Cliffs Inc. (NYSE: CLF) today announced that it is increasing current spot market base prices for all carbon hot rolled, cold rolled and coated steel products, effective immediately with all new orders. Cliffs’ minimum base price for hot rolled steel is now $900 per net ton.
Over the last 12 months, CLF stock rose by 46.25%. The one-year Cleveland-Cliffs Inc stock forecast points to a potential upside of 9.35. The average equity rating for CLF stock is currently 2.09, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $8.76 billion, with 513.34 million shares outstanding and 495.19 million shares in the current float. Compared to the average trading volume of 10.92M shares, CLF stock reached a trading volume of 9656909 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $19.15 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 2.09. 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.
Citigroup have made an estimate for Cleveland-Cliffs Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 25, 2023.
The Average True Range (ATR) for Cleveland-Cliffs Inc is set at 0.57, 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 1.09, with the Price to Cash per share for the same quarter was set at 0.06. Price to Free Cash Flow for CLF in the course of the last twelve months was 6.28 with Quick ratio for the last quarter at 0.71.
CLF Stock Performance Analysis:
Cleveland-Cliffs Inc [CLF] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.29. With this latest performance, CLF shares gained by 12.00% in over the last four-week period, additionally plugging by 14.97% over the last 6 months – not to mention a rise of 46.25% 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 69.42, with the RSI for the last a single of trading hit 75.64, and the three-weeks RSI is set at 64.73 for Cleveland-Cliffs Inc [CLF]. The present Moving Average for the last 50 days of trading for this stock 15.22, while it was recorded at 17.04 for the last single week of trading, and 16.76 for the last 200 days.
Insight into Cleveland-Cliffs Inc 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 0.71 and a Current Ratio set at 2.11.
Cleveland-Cliffs Inc [CLF] Institutonal Ownership Details
The top three institutional holders of CLF stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in CLF stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in CLF stock with ownership which is approximately 5.7994%.