In the past week, CLF stock has gone down by -1.57%, with a monthly decline of -21.50% and a quarterly plunge of -13.47%. The volatility ratio for the week is 3.31%, and the volatility levels for the last 30 days are 3.31% for Cleveland-Cliffs Inc. The simple moving average for the past 20 days is -12.12% for CLF’s stock, with a -1.65% simple moving average for the past 200 days.
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 23.45x compared to its average ratio, The 36-month beta value for CLF is at 2.09. Analysts have varying views on the stock, with 1 analysts rating it as a “buy,” 1 rating it as “overweight,” 5 as “hold,” and 2 as “sell.”
The public float for CLF is 465.95M, and currently, shorts hold a 6.07% of that float. The average trading volume for CLF on May 06, 2024 was 8.79M shares.
CLF) stock’s latest price update
The stock price of Cleveland-Cliffs Inc (NYSE: CLF) has jumped by 1.85 compared to previous close of 17.28. Despite this, the company has seen a fall of -1.57% in its stock price over the last five trading days. Zacks Investment Research reported 2024-05-02 that Cleveland-Cliffs (CLF) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
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 $18 based on the research report published on April 09, 2024 of the current year 2024.
Citigroup, on the other hand, stated in their research note that they expect to see CLF reach a price target of $22. The rating they have provided for CLF stocks is “Neutral” according to the report published on March 13th, 2024.
Exane BNP Paribas gave a rating of “Underperform” to CLF, setting the target price at $16.50 in the report published on February 28th of the current year.
CLF Trading at -14.61% 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 -23.38% of loss for the given period.
Volatility was left at 3.31%, however, over the last 30 days, the volatility rate increased by 3.31%, as shares sank -20.90% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -12.13% lower at present.
During the last 5 trading sessions, CLF fell by -1.57%, which changed the moving average for the period of 200-days by +5.14% in comparison to the 20-day moving average, which settled at $19.80. In addition, Cleveland-Cliffs Inc saw -13.81% 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 GONCALVES LOURENCO, who purchase 60,000 shares at the price of $16.76 back on May 01 ’24. After this action, GONCALVES LOURENCO now owns 2,759,089 shares of Cleveland-Cliffs Inc, valued at $1,005,666 using the latest closing price.
Bloom Ron A., the Director of Cleveland-Cliffs Inc, purchase 25,000 shares at $17.00 during a trade that took place back on May 01 ’24, which means that Bloom Ron A. is holding 59,900 shares at $424,875 based on the most recent closing price.
Stock Fundamentals for CLF
Current profitability levels for the company are sitting at:
- 0.04 for the present operating margin
- 0.07 for the gross margin
The net margin for Cleveland-Cliffs Inc stands at 0.02. The total capital return value is set at 0.06. Equity return is now at value 5.28, with 2.17 for asset returns.
Based on Cleveland-Cliffs Inc (CLF), the company’s capital structure generated 0.34 points at debt to capital in total, while cash flow to debt ratio is standing at 0.65. The debt to equity ratio resting at 0.52. The interest coverage ratio of the stock is 3.25.
Currently, EBITDA for the company is 2.0 billion with net debt to EBITDA at 1.69. When we switch over and look at the enterprise to sales, we see a ratio of 0.55. The receivables turnover for the company is 11.72for trailing twelve months and the total asset turnover is 1.27. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.90.
Conclusion
In conclusion, Cleveland-Cliffs Inc (CLF) has had a bad 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.
