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Is a Correction Looming Ahead for Cleveland-Cliffs Inc. (CLF)

Cleveland-Cliffs Inc. (NYSE:CLF) went up by 1.99% from its latest closing price compared to the recent 1-year high of $34.04. The company’s stock price has collected 3.99% of gains in the last five trading sessions. The Wall Street Journal reported on 10/30/22 that Steel Companies’ Profits Hurt by Falling Prices

Is It Worth Investing in Cleveland-Cliffs Inc. (NYSE :CLF) Right Now?

Cleveland-Cliffs Inc. (NYSE:CLF) scored a price-to-earnings ratio above its average ratio, recording 3.45 x from its present earnings ratio. Plus, the 36-month beta value for CLF is at 2.16. Opinions of the stock are interesting as 5 analysts out of 11 who provided ratings for Cleveland-Cliffs Inc. declared the stock was a “buy,” while 0 rated the stock as “overweight,” 4 rated it as “hold,” and 2 as “sell.”

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CLF currently public float of 508.28M and currently shorts hold a 9.11% ratio of that float. Today, the average trading volume of CLF was 14.00M shares.

CLF’s Market Performance

CLF stocks went up by 3.99% for the week, with a monthly jump of 11.19% and a quarterly performance of -18.00%, while its annual performance rate touched -29.99%. The volatility ratio for the week stands at 5.82% while the volatility levels for the past 30 days are set at 5.50% for Cleveland-Cliffs Inc. The simple moving average for the period of the last 20 days is 13.07% for CLF stocks with a simple moving average of -20.53% for the last 200 days.

Analysts’ Opinion of CLF

Many brokerage firms have already submitted their reports for CLF stocks, with Wolfe Research repeating the rating for CLF by listing it as a “Underperform.” The predicted price for CLF in the upcoming period, according to Wolfe Research is $12 based on the research report published on November 02nd of the current year 2022.

Exane BNP Paribas, on the other hand, stated in their research note that they expect to see CLF reach a price target of $14.30. The rating they have provided for CLF stocks is “Underperform” according to the report published on October 18th, 2022.

Wolfe Research gave a rating of “Peer Perform” to CLF, setting the target price at $23 in the report published on January 11th of the current year.

CLF Trading at 9.90% from the 50-Day Moving Average

After a stumble in the market that brought CLF to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -53.29% of loss for the given period.

Volatility was left at 5.50%, however, over the last 30 days, the volatility rate increased by 5.82%, as shares surge +7.72% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +3.58% upper at present.

During the last 5 trading sessions, CLF rose by +3.99%, which changed the moving average for the period of 200-days by -19.98% in comparison to the 20-day moving average, which settled at $14.12. In addition, Cleveland-Cliffs Inc. saw -26.96% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at CLF starting from GREEN SUSAN MIRANDA, who sale 300 shares at the price of $18.07 back on Sep 12. After this action, GREEN SUSAN MIRANDA now owns 96,053 shares of Cleveland-Cliffs Inc., valued at $5,421 using the latest closing price.

Miller Janet L, the Director of Cleveland-Cliffs Inc., purchase 1,425 shares at $17.45 during a trade that took place back on Sep 08, which means that Miller Janet L is holding 80,606 shares at $24,865 based on the most recent closing price.

Stock Fundamentals for CLF

Current profitability levels for the company are sitting at:

  • +20.36 for the present operating margin
  • +21.88 for the gross margin

The net margin for Cleveland-Cliffs Inc. stands at +14.60. Equity return is now at value 38.20, with 12.40 for asset returns.

The liquidity ratio also appears to be rather interesting for investors as it stands at 2.15.

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