Cleveland-Cliffs Inc (NYSE:CLF) shares traded -0.76% lower at $22.25 on Wall Street last session.
CLF stock price is now 8.99% away from the 50-day moving average and 26.83% away from the 200-day moving average. The market capitalization of the company currently stands at $11.09B.
With the price target maintained at $22, Citigroup recently Downgraded its rating from Buy to Neutral for Cleveland-Cliffs Inc (NYSE: CLF). On February 28, 2024, Exane BNP Paribas Downgraded its previous ‘Neutral’ rating to ‘Underperform’ on the stock keeping its target price maintained at $16.50, while ‘Morgan Stanley’ rates the stock as ‘Equal-Weight’
In other news, GREEN SUSAN MIRANDA, Director sold 6,500 shares of the company’s stock on Mar 13 ’24. The stock was sold for $132,601 at an average price of $20.40. Upon completion of the transaction, the Director now directly owns 90,286 shares in the company, valued at $2.01 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 06 ’24, Director Yocum Arlene M bought 2,000 shares of the business’s stock. A total of $40,050 was incurred on buying the stock at an average price of $20.02. This leaves the insider owning 94,887 shares of the company worth $2.11 million. A total of 2.07% of the company’s stock is owned by insiders.
During the past 12 months, Cleveland-Cliffs Inc has had a low of $13.61 and a high of $22.97. As of last week, the company has a debt-to-equity ratio of 0.46, a current ratio of 1.89, and a quick ratio of 0.62. The fifty day moving average price for CLF is $20.50 and a two-hundred day moving average price translates $17.57 for the stock.
The latest earnings results from Cleveland-Cliffs Inc (NYSE: CLF) was released for Dec, 2023. According to the Steel Company, earnings per share came in at -$0.05, beating analysts’ expectations of -$0.06 by 0.01. This compares to -$0.37 EPS in the same period last year. The net profit margin was 1.81% and return on equity was 5.08% for CLF. The company reported revenue of $5.11 billion for the quarter, compared to $5.04 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 1.35 percent. For the current quarter, analysts expect CLF to generate $5.36B in revenue.
