The stock price of Cleveland-Cliffs Inc (NYSE: CLF) has plunged by -0.76 when compared to previous closing price of 22.42, but the company has seen a -2.15% decline in its stock price over the last five trading sessions. InvestorPlace reported 2024-04-05 that It may not be much, but the Russell 2000 Index (RUT) is up 7% in 2024. The index still sits about 20% below the all-time high it reached in November 2021.
Is It Worth Investing in Cleveland-Cliffs Inc (NYSE: CLF) Right Now?
The price-to-earnings ratio for Cleveland-Cliffs Inc (NYSE: CLF) is 28.67x, which is above its average ratio. Moreover, the 36-month beta value for CLF is 2.03. Analysts have varying opinions on the stock, with 1 analysts rating it as a “buy,” 1 as “overweight,” 5 as “hold,” and 2 as “sell.”
The public float for CLF is 487.98M and currently, short sellers hold a 6.51% of that float. On April 08, 2024, CLF’s average trading volume was 8.64M shares.
CLF’s Market Performance
CLF stock saw an increase of -2.15% in the past week, with a monthly gain of 10.75% and a quarterly increase of 16.49%. The volatility ratio for the week is 2.14%, and the volatility levels for the last 30 days are 2.82% for Cleveland-Cliffs Inc (CLF). The simple moving average for the past 20 days is 4.49% for CLF’s stock, with a 26.83% simple moving average for the past 200 days.
Analysts’ Opinion of CLF
Many brokerage firms have already submitted their reports for CLF stocks, with Citigroup repeating the rating for CLF by listing it as a “Neutral.” The predicted price for CLF in the upcoming period, according to Citigroup is $22 based on the research report published on March 13, 2024 of the current year 2024.
Exane BNP Paribas, on the other hand, stated in their research note that they expect to see CLF reach a price target of $16.50. The rating they have provided for CLF stocks is “Underperform” according to the report published on February 28th, 2024.
Morgan Stanley gave a rating of “Equal-Weight” to CLF, setting the target price at $20 in the report published on February 15th of the current year.
CLF Trading at 8.99% 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 -3.13% of loss for the given period.
Volatility was left at 2.82%, however, over the last 30 days, the volatility rate increased by 2.14%, as shares surge +6.31% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +21.78% upper at present.
During the last 5 trading sessions, CLF fell by -2.15%, which changed the moving average for the period of 200-days by +35.34% in comparison to the 20-day moving average, which settled at $21.36. In addition, Cleveland-Cliffs Inc saw 8.96% 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 GREEN SUSAN MIRANDA, who sale 6,500 shares at the price of $20.40 back on Mar 13 ’24. After this action, GREEN SUSAN MIRANDA now owns 90,286 shares of Cleveland-Cliffs Inc, valued at $132,601 using the latest closing price.
Yocum Arlene M, the Director of Cleveland-Cliffs Inc, purchase 2,000 shares at $20.02 during a trade that took place back on Mar 06 ’24, which means that Yocum Arlene M is holding 94,887 shares at $40,050 based on the most recent closing price.
Stock Fundamentals for CLF
Current profitability levels for the company are sitting at:
- 0.03 for the present operating margin
- 0.06 for the gross margin
The net margin for Cleveland-Cliffs Inc stands at 0.02. The total capital return value is set at 0.05. Equity return is now at value 5.08, with 2.19 for asset returns.
Based on Cleveland-Cliffs Inc (CLF), the company’s capital structure generated 0.29 points at debt to capital in total, while cash flow to debt ratio is standing at 0.7. The debt to equity ratio resting at 0.41. The interest coverage ratio of the stock is 2.52.
Currently, EBITDA for the company is 2.0 billion with net debt to EBITDA at 1.47. When we switch over and look at the enterprise to sales, we see a ratio of 0.64. The receivables turnover for the company is 11.95for trailing twelve months and the total asset turnover is 1.25. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.89.
Conclusion
To wrap up, the performance of Cleveland-Cliffs Inc (CLF) has been better in recent times. The stock has received a mixed of “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
