Cleveland-Cliffs Inc [NYSE: CLF] stock went on an upward path that rose over 0.95% on Monday, amounting to a one-week price decrease of less than -0.24%.
Over the last 12 months, CLF stock dropped by -13.84%. The one-year Cleveland-Cliffs Inc stock forecast points to a potential upside of 20.03. The average equity rating for CLF stock is currently 3.00, trading closer to a bullish pattern in the stock market.
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The market cap for the stock reached $5.94 billion, with 504.89 million shares outstanding and 457.66 million shares in the current float. Compared to the average trading volume of 9.30M shares, CLF stock reached a trading volume of 9528591 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 $15.88 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 3.00. 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 June 11, 2024. While these analysts kept the previous recommendation, Jefferies raised their target price to Buy. The new note on the price target was released on May 20, 2024, representing the official price target for Cleveland-Cliffs Inc stock. Previously, the target price had yet another raise to $18, while Wolfe Research analysts kept a Underperform rating on CLF stock.
The Average True Range (ATR) for Cleveland-Cliffs Inc is set at 0.51, with the Price to Sales ratio for CLF stock in the period of the last 12 months amounting to 0.28. The Price to Book ratio for the last quarter was 0.84, with the Price to Cash per share for the same quarter was set at 0.24. Price to Free Cash Flow for CLF in the course of the last twelve months was 4.31 with Quick ratio for the last quarter at 0.60.
CLF Stock Performance Analysis:
Cleveland-Cliffs Inc [CLF] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.24. With this latest performance, CLF shares dropped by -16.28% in over the last four-week period, additionally sinking by -36.08% over the last 6 months – not to mention a drop of -13.84% 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 31.84, with the RSI for the last a single of trading hit 30.42, and the three-weeks RSI is set at 33.35 for Cleveland-Cliffs Inc [CLF]. The present Moving Average for the last 50 days of trading for this stock 14.75, while it was recorded at 12.70 for the last single week of trading, and 17.94 for the last 200 days.
Insight into Cleveland-Cliffs Inc Fundamentals:
Cleveland-Cliffs Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 1.87.
Cleveland-Cliffs Inc [CLF] Institutonal Ownership Details
The top three institutional holders of CLF stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.5034%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $178.43 billion in CLF stocks shares; and BERKSHIRE HATHAWAY INC, currently with $135.36 billion in CLF stock with ownership which is approximately 5.1238%.
