Cleveland-Cliffs Inc [NYSE: CLF] closed the trading session at $21.91. The company report on April 4, 2024 at 10:37 AM that Cleveland-Cliffs Applauds DOE’s Final Transformer Efficiency Standard Rule.
Cleveland-Cliffs Inc. (NYSE: CLF) today applauded the Department of Energy’s (DOE) final transformer efficiency standard rule that will provide for the continued utilization of Grain-Oriented Electrical Steel (GOES) in virtually all of Cliffs’ current distribution transformer end markets.
With this revised rule, the DOE acknowledged the fundamental importance of GOES and the essential role played by Cleveland-Cliffs steel plants in Butler, PA and Zanesville, OH in effectively sustaining the functionality of the U.S. electric grid. Cleveland-Cliffs and the United Auto Workers (UAW) worked collaboratively to educate the DOE on the shortcomings of the originally proposed distribution transformer rule and the danger of relying on Amorphous Metal, which is produced in very limited volumes and exclusively from imported materials.
The stocks have a year to date performance of 7.30 percent and weekly performance of -2.10 percent. The stock has been moved at 41.35 percent over the last six months. The stock has performed 4.38 percent around the most recent 30 days and changed 13.64 percent over the most recent 3-months.
If compared to the average trading volume of 8.46M shares, CLF reached to a volume of 10849771 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 $22.13 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 2.67. 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 Underperform, with their previous recommendation back on Apr-10-24. The new note on the price target was released on March 13, 2024, representing the official price target for Cleveland-Cliffs Inc stock. Previously, the target price had yet another raise to $16.50, while Exane BNP Paribas analysts kept a Underperform rating on CLF stock. On February 15, 2024, analysts decreased their price target for CLF shares from 21.50 to 20.
The Average True Range (ATR) for Cleveland-Cliffs Inc is set at 0.59, with the Price to Sales ratio for CLF stock in the period of the last 12 months amounting to 0.50. The Price to Book ratio for the last quarter was 1.40, with the Price to Cash per share for the same quarter was set at 0.40. Price to Free Cash Flow for CLF in the course of the last twelve months was 6.88 with Quick ratio for the last quarter at 0.62.
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 -2.10. With this latest performance, CLF shares gained by 4.38% in over the last four-week period, additionally plugging by 41.35% over the last 6 months – not to mention a rise of 26.94% 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 55.56, with the RSI for the last a single of trading hit 51.62, and the three-weeks RSI is set at 56.94 for Cleveland-Cliffs Inc [CLF]. The present Moving Average for the last 50 days of trading for this stock 20.65, while it was recorded at 22.37 for the last single week of trading, and 17.63 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 0.62 and a Current Ratio set at 1.89.
Earnings per share (EPS) analysis for Cleveland-Cliffs Inc [CLF] stock
With the latest financial reports released by the company, Cleveland-Cliffs Inc posted -0.11/share EPS, while the average EPS was predicted by analysts to be reported at -0.19/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 42.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CLF.
Cleveland-Cliffs Inc [CLF]: Institutional Ownership
The top three institutional holders of CLF stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in CLF stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in CLF stock with ownership which is approximately 5.8386%.
