Cleveland-Cliffs Inc. (NYSE: CLF)’s stock price has decreased by -0.28 compared to its previous closing price of 17.66. Despite this, the company has experienced a -14.43% fall in its stock price over the last five trading sessions. Barron’s reported on 02/14/23 that Steel Maker Cleveland-Cliffs Beats Wall Street Earnings Estimates. The Stock Falls.
Is It Worth Investing in Cleveland-Cliffs Inc. (NYSE: CLF) Right Now?
Cleveland-Cliffs Inc. (NYSE: CLF) has a higher price-to-earnings ratio of 7.01x compared to its average ratio, and the 36-month beta value for CLF is at 2.25. Analysts have varying views on the stock, with 6 analysts rating it as a “buy,” 0 rating it as “overweight,” 6 as “hold,” and 1 as “sell.”
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The average price suggested by analysts for CLF is $22.12, which is $3.72 above the current market price. The public float for CLF is 508.28M, and currently, shorts hold a 6.70% of that float. The average trading volume for CLF on March 17, 2023 was 11.14M shares.
CLF’s Market Performance
The stock of Cleveland-Cliffs Inc. (CLF) has seen a -14.43% decrease in the past week, with a -13.72% drop in the past month, and a 10.62% gain in the past quarter. The volatility ratio for the week is 6.24%, and the volatility levels for the past 30 days are at 4.33% for CLF. The simple moving average for the last 20 days is -13.89% for CLF stock, with a simple moving average of 1.45% for the last 200 days.
Analysts’ Opinion of CLF
Many brokerage firms have already submitted their reports for CLF stocks, with Exane BNP Paribas repeating the rating for CLF by listing it as a “Neutral.” The predicted price for CLF in the upcoming period, according to Exane BNP Paribas is $21 based on the research report published on January 25th of the current year 2023.
Morgan Stanley, on the other hand, stated in their research note that they expect to see CLF reach a price target of $26, previously predicting the price at $13.60. The rating they have provided for CLF stocks is “Overweight” according to the report published on January 12th, 2023.
BofA Securities gave a rating of “Neutral” to CLF, setting the target price at $19 in the report published on January 04th of the current year.
CLF Trading at -13.17% 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 -48.27% of loss for the given period.
Volatility was left at 4.33%, however, over the last 30 days, the volatility rate increased by 6.24%, as shares sank -14.01% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +4.88% upper at present.
During the last 5 trading sessions, CLF fell by -14.43%, which changed the moving average for the period of 200-days by -28.33% in comparison to the 20-day moving average, which settled at $20.31. In addition, Cleveland-Cliffs Inc. saw 9.31% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at CLF starting from Taylor Douglas C, who sale 42,000 shares at the price of $21.25 back on Mar 07. After this action, Taylor Douglas C now owns 118,469 shares of Cleveland-Cliffs Inc., valued at $892,576 using the latest closing price.
GREEN SUSAN MIRANDA, the Director of Cleveland-Cliffs Inc., sale 8,700 shares at $22.66 during a trade that took place back on Mar 03, which means that GREEN SUSAN MIRANDA is holding 87,353 shares at $197,145 based on the most recent closing price.
Stock Fundamentals for CLF
Current profitability levels for the company are sitting at:
- +7.46 for the present operating margin
- +9.84 for the gross margin
The net margin for Cleveland-Cliffs Inc. stands at +5.79. Equity return is now at value 19.20, with 6.80 for asset returns.
The liquidity ratio also appears to be rather interesting for investors as it stands at 2.09.
Conclusion
In conclusion, Cleveland-Cliffs Inc. (CLF) has had a mixed performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
