The stock of Cleveland-Cliffs Inc. (NYSE:CLF) last traded at $15.23, up 4.03% from the previous session.
Data from the available sources indicates that Cleveland-Cliffs Inc. (NYSE:CLF) is covered by 13 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $27.00 and a low of $17.00, we find $22.00. Given the previous closing price of $14.64, this indicates a potential upside of 50.27 percent. CLF stock price is now -10.53% away from the 50-day moving average and -11.00% away from the 200-day moving average. The market capitalization of the company currently stands at $7.80B.
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In total, 6 analysts have assigned it a hold rating, and 7 have given it a buy rating. Brokers who have rated the stock have averaged $22.14 as their price target over the next twelve months.
On January 25, 2023, Exane BNP Paribas Upgraded its previous ‘Underperform’ rating to ‘Neutral’ on the stock keeping its target price maintained at $21, while ‘Morgan Stanley’ rates the stock as ‘Overweight’.
In other news, MICHAEL RALPH S III, Director bought 10,000 shares of the company’s stock on May 02. The stock was bought for $149,592 at an average price of $14.96. Upon completion of the transaction, the Director now directly owns 171,840 shares in the company, valued at $2.62 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 01, EVP, CFO Goncalves Celso L Jr bought 6,500 shares of the business’s stock. A total of $98,697 was incurred on buying the stock at an average price of $15.18. This leaves the insider owning 237,727 shares of the company worth $3.62 million. Insiders disposed of 808,984 shares of company stock worth roughly $12.32 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CLF stock. A new stake in Cleveland-Cliffs Inc. shares was purchased by TWO SIGMA INVESTMENTS, LP during the first quarter worth $12,902,000. POINT72 MIDDLE EAST FZE invested $10,949,000 in shares of CLF during the first quarter. In the first quarter, PECONIC PARTNERS LLC acquired a new stake in Cleveland-Cliffs Inc. valued at approximately $7,615,000. EISLER CAPITAL (UK) LTD. acquired a new stake in CLF for approximately $6,972,000. DOUGLAS LANE & ASSOCIATES, LLC purchased a new stake in CLF valued at around $6,428,000 in the second quarter. In total, there are 803 active investors with 67.60% ownership of the company’s stock.
With an opening price of $14.88 on Wednesday morning, Cleveland-Cliffs Inc. (NYSE: CLF) set off the trading day. During the past 12 months, Cleveland-Cliffs Inc. has had a low of $11.82 and a high of $24.66. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 2.20, and a quick ratio of 0.70. The fifty day moving average price for CLF is $16.91 and a two-hundred day moving average price translates $17.10 for the stock.
The latest earnings results from Cleveland-Cliffs Inc. (NYSE: CLF) was released for Mar, 2023. According to the Steel Company, earnings per share came in at -$0.11, beating analysts’ expectations of -$0.19 by 0.08. This compares to $1.50 EPS in the same period last year. The net profit margin was 2.10% and return on equity was 6.60% for CLF. The company reported revenue of $5.29 billion for the quarter, compared to $5.96 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -11.08 percent. For the current quarter, analysts expect CLF to generate $5.82B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 04/15/2020. Investors who held shares on 04/03/2020 were paid a $0.06 dividend.
Cleveland-Cliffs Inc.(CLF) Company Profile
Cleveland-Cliffs Inc. operates as a flat-rolled steel producer in North America. The company offers hot-rolled, cold-rolled, electrogalvanized, hot-dip galvanized, galvannealed, aluminized, galvalume, enameling, and advanced high-strength steel products; stainless steel products; plates; and grain oriented and non-oriented electrical steel products. It also provides tubular components, including carbon steel, stainless steel, and electric resistance welded tubing. In addition, the company offers tinplate products, such as electrolytic tin coated and chrome coated sheet, and tin mill products; tooling and sampling; raw materials; ingots, rolled blooms, and cast blooms; and hot-briquetted iron products. Further, it owns five iron ore mines in Minnesota and Michigan. The company serves automotive, infrastructure and manufacturing, distributors and converters, and steel producers. Cleveland-Cliffs Inc. was formerly known as Cliffs Natural Resources Inc. and changed its name to Cleveland-Cliffs Inc. in August 2017. The company was founded in 1847 and is headquartered in Cleveland, Ohio.
