The stock price of Cleveland-Cliffs Inc (NYSE: CLF) has surged by 3.46 when compared to previous closing price of 12.70, but the company has seen a 1.08% gain in its stock price over the last five trading sessions. businesswire.com reported 2024-10-10 that CLEVELAND–(BUSINESS WIRE)–Cleveland-Cliffs Inc. (NYSE: CLF) will announce its third-quarter 2024 earnings results after the U.S. market close on Monday, November 4, 2024. The Company invites interested parties to listen to a live broadcast of a conference call with securities analysts and institutional investors to discuss the results on Tuesday, November 5, 2024, at 8:30 am ET. The call can be accessed at www.clevelandcliffs.com and will also be archived and available for replay at that addr.
Is It Worth Investing in Cleveland-Cliffs Inc (NYSE: CLF) Right Now?
Cleveland-Cliffs Inc (NYSE: CLF) has a price-to-earnings ratio that is above its average at 164.87x. The stock has a 36-month beta value of 1.97. Opinions on the stock are mixed, with 1 analysts rating it as a “buy,” 1 as “overweight,” 5 as “hold,” and 2 as “sell.”
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The public float for CLF is 458.04M, and at present, short sellers hold a 10.51% of that float. On October 14, 2024, the average trading volume of CLF was 11.98M shares.
CLF’s Market Performance
CLF’s stock has seen a 1.08% increase for the week, with a 15.77% rise in the past month and a -18.94% fall in the past quarter. The volatility ratio for the week is 3.30%, and the volatility levels for the past 30 days are at 3.45% for Cleveland-Cliffs Inc The simple moving average for the past 20 days is 5.20% for CLF’s stock, with a -22.36% simple moving average for the past 200 days.
Analysts’ Opinion of CLF
Many brokerage firms have already submitted their reports for CLF stocks, with Seaport Research Partners repeating the rating for CLF by listing it as a “Buy.” The predicted price for CLF in the upcoming period, according to Seaport Research Partners is $16.50 based on the research report published on August 27, 2024 of the current year 2024.
JP Morgan, on the other hand, stated in their research note that they expect to see CLF reach a price target of $17, previously predicting the price at $23. The rating they have provided for CLF stocks is “Neutral” according to the report published on June 11th, 2024.
Jefferies gave a rating of “Buy” to CLF, setting the target price at $22 in the report published on May 20th of the current year.
CLF Trading at 4.42% 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 -42.79% of loss for the given period.
Volatility was left at 3.45%, however, over the last 30 days, the volatility rate increased by 3.30%, as shares surge +10.33% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -10.25% lower at present.
During the last 5 trading sessions, CLF rose by +1.08%, which changed the moving average for the period of 200-days by -37.01% in comparison to the 20-day moving average, which settled at $12.49. In addition, Cleveland-Cliffs Inc saw -35.65% 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 BALDWIN JOHN T, who purchase 8,000 shares at the price of $14.53 back on Aug 01 ’24. After this action, BALDWIN JOHN T now owns 129,227 shares of Cleveland-Cliffs Inc, valued at $116,240 using the latest closing price.
Taylor Douglas C, the Director of Cleveland-Cliffs Inc, sale 36,000 shares at $14.87 during a trade that took place back on Jun 11 ’24, which means that Taylor Douglas C is holding 100,536 shares at $535,223 based on the most recent closing price.
Stock Fundamentals for CLF
Current profitability levels for the company are sitting at:
- 0.02 for the present operating margin
- 0.06 for the gross margin
The net margin for Cleveland-Cliffs Inc stands at 0.0. The total capital return value is set at 0.04. Equity return is now at value 0.59, with 0.25 for asset returns.
Based on Cleveland-Cliffs Inc (CLF), the company’s capital structure generated 0.33 points at debt to capital in total, while cash flow to debt ratio is standing at 0.59. The debt to equity ratio resting at 0.5. The interest coverage ratio of the stock is 1.96.
Currently, EBITDA for the company is 2.0 billion with net debt to EBITDA at 1.99. When we switch over and look at the enterprise to sales, we see a ratio of 0.45. The receivables turnover for the company is 11.85for trailing twelve months and the total asset turnover is 1.24. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.87.
Conclusion
To sum up, Cleveland-Cliffs Inc (CLF) has seen a mixed performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as 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.
