Cleveland-Cliffs Inc. (NYSE: CLF) is 16.90% higher on its value in year-to-date trading and has touched a low of $2.63 and a high of $18.77 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The CLF stock was last observed hovering at around $16.60 in the last trading session, with the day’s gains setting it 0.42% off its average median price target of $20.00 for the next 12 months. It is also 23.68% off the consensus price target high of $22.30 offered by 7 analysts, but current levels are -9.81% lower than the price target low of $15.50 for the same period.
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Currently trading at $17.02, the stock is 4.73% and 9.33% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 18.91 million and changing 2.53% at the moment leaves the stock 91.33% off its SMA200. CLF registered 136.72% gain for a year compared to 6-month gain of 165.52%. The firm has a 50-day simple moving average (SMA 50) of $16.64 and a 200-day simple moving average (SMA200) of $10.60.
The stock witnessed a -0.23% loss in the last 1 month and extending the period to 3 months gives it a 87.24%, and is 1.79% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.58% over the week and 5.64% over the month.
Cleveland-Cliffs Inc. (CLF) has around 2372 employees, a market worth around $8.28B and $3.63B in sales. Fwd P/E is 6.10. Profit margin for the company is -3.40%. Distance from 52-week low is 547.15% and -9.32% from its 52-week high. The company has generated returns on investments over the last 12 months (15.90%).
Cleveland-Cliffs Inc. (CLF) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Cleveland-Cliffs Inc. (CLF) is a “Overweight”. 7 analysts offering their recommendations for the stock have an average rating of 2.60, where 4 rate it as a Hold and 0 think it is a “Overweight”. 3 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Cleveland-Cliffs Inc. is expected to release its quarterly report on 04/29/2021 and quarterly earnings per share for the current quarter are estimated at $0.22 with sales reaching $2.34B over the same period.The EPS is expected to shrink by -69.70% this year, but quarterly earnings will post 172.30% year-over-year. Quarterly sales are estimated to grow 338.60% in year-over-year returns.
Cleveland-Cliffs Inc. (CLF) Top Institutional Holders
404 institutions hold shares in Cleveland-Cliffs Inc. (CLF), with 84.42M shares held by insiders accounting for 21.15% while institutional investors hold 89.55% of the company’s shares. The shares outstanding are 399.40M, and float is at 331.35M with Short Float at 15.55%. Institutions hold 70.62% of the Float.
The top institutional shareholder in the company is Blackrock Inc. with over 60.86 million shares valued at $886.08 million. The investor’s holdings represent 15.24% of the CLF Shares outstanding. As of Sep 29, 2020, the second largest holder is Vanguard Group, Inc. (The) with 40.29 million shares valued at $258.67 million to account for 10.09% of the shares outstanding. The other top investors are FMR, LLC which holds 19.57 million shares representing 4.90% and valued at over $284.97 million, while Fisher Asset Management, LLC holds 4.30% of the shares totaling 17.17 million with a market value of $249.97 million.
Cleveland-Cliffs Inc. (CLF) Insider Activity
A total of 26 insider transactions have happened at Cleveland-Cliffs Inc. (CLF) in the last six months, with sales accounting for 9 and purchases happening 17 times. The most recent transaction is an insider purchase by HARLAN M ANN, the company’s Director. SEC filings show that HARLAN M ANN bought 5,000 shares of the company’s common stock on Mar 13 at a price of $4.42 per share for a total of $22100.0. Following the purchase, the insider now owns 27090.0 shares.
Cleveland-Cliffs Inc. disclosed in a document filed with the SEC on Mar 12 that Koci Keith (EVP, Chief Financial Officer) bought a total of 25,000 shares of the company’s common stock. The trade occurred on Mar 12 and was made at $4.09 per share for $0.1 million. Following the transaction, the insider now directly holds 0.12 million shares of the CLF stock.
Still, SEC filings show that on Mar 12, Fisher Robert P Jr (Director) acquired 10,000 shares at an average price of $4.00 for $40000.0. The insider now directly holds 134,030 shares of Cleveland-Cliffs Inc. (CLF).
Cleveland-Cliffs Inc. (CLF): Who are the competitors?
The company’s main competitors (and peers) include United States Steel Corporation (X) that is trading 93.10% up over the past 12 months. Vale S.A. (VALE) is 56.41% up on the 1-year trading charts. Short interest in the company’s stock has fallen -11.34% from the last report on Dec 30, 2020 to stand at a total of 57.36 million short shares sold with a short interest ratio of 3.59.