Cleveland-Cliffs Inc. (NYSE: CLF) is 11.47% higher on its value in year-to-date trading and has touched a low of $3.30 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 $16.57 in the last trading session, with the day’s loss setting it -0.34% off its average median price target of $19.50 for the next 12 months. It is also 26.53% off the consensus price target high of $22.09 offered by 6 analysts, but current levels are 9.83% higher than the price target low of $18.00 for the same period.
Currently trading at $16.23, the stock is 4.23% and 1.21% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 20.38 million and changing -2.05% at the moment leaves the stock 58.06% off its SMA200. CLF registered 327.11% gain for a year compared to 6-month gain of 176.02%. The firm has a 50-day simple moving average (SMA 50) of $15.92 and a 200-day simple moving average (SMA200) of $12.28.
The stock witnessed a 21.66% loss in the last 1 month and extending the period to 3 months gives it a 14.70%, and is 2.33% 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 8.14% over the week and 7.09% over the month.
Cleveland-Cliffs Inc. (CLF) has around 25000 employees, a market worth around $7.41B and $5.35B in sales. Fwd P/E is 11.24. Profit margin for the company is -2.30%. Distance from 52-week low is 391.82% and -13.53% from its 52-week high. The company has generated returns on investments over the last 12 months (1.30%).
Cleveland-Cliffs Inc. (CLF) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Cleveland-Cliffs Inc. (CLF) is a “Overweight”. 6 analysts offering their recommendations for the stock have an average rating of 2.30, where 2 rate it as a Hold and 0 think it is a “Overweight”. 4 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 $0.26 with sales reaching $4.14B over the same period.The EPS is expected to shrink by -131.30% this year, but quarterly earnings will post 223.60% year-over-year. Quarterly sales are estimated to grow 1,174.70% in year-over-year returns.
Cleveland-Cliffs Inc. (CLF) Top Institutional Holders
404 institutions hold shares in Cleveland-Cliffs Inc. (CLF), with 105.49M shares held by insiders accounting for 21.15% while institutional investors hold 89.55% of the company’s shares. The shares outstanding are 420.40M, and float is at 414.15M with Short Float at 10.43%. 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 12.20% of the CLF Shares outstanding. As of Dec 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 40.75 million shares valued at $593.39 million to account for 8.17% of the shares outstanding. The other top investors are FMR, LLC which holds 19.57 million shares representing 3.92% and valued at over $284.97 million, while Fisher Asset Management, LLC holds 3.44% of the shares totaling 17.17 million with a market value of $249.97 million.
Cleveland-Cliffs Inc. (CLF) Insider Activity
A total of 37 insider transactions have happened at Cleveland-Cliffs Inc. (CLF) in the last six months, with sales accounting for 10 and purchases happening 27 times. The most recent transaction is an insider purchase by Koci Keith ,the company’sEVP, Chief Financial Officer. SEC filings show that Koci Keith bought 15,000 shares of the company’s common stock on Mar 05 at a price of $13.45 per share for a total of $0.2 million. Following the purchase, the insider now owns 0.21 million shares.
Cleveland-Cliffs Inc. (CLF): Who are the competitors?
The company’s main competitors (and peers) include United States Steel Corporation (X) that is trading 307.96% up over the past 12 months and ArcelorMittal (MT) that is 210.06% higher over the same period. Vale S.A. (VALE) is 121.98% up on the 1-year trading charts. Short interest in the company’s stock has fallen -17.31% from the last report on Feb 11, 2021 to stand at a total of 50.68 million short shares sold with a short interest ratio of 1.83.