Cleveland-Cliffs Inc (NYSE: CLF) is 8.96% higher on its value in year-to-date trading and has touched a low of $13.61 and a high of $22.97 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 $22.42 in the last trading session, with the day’s loss setting it -0.17%.
Currently trading at $22.25, the stock is 4.49% and 8.99% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 5.26 million and changing -0.76% at the moment leaves the stock 26.83% off its SMA200. CLF registered 27.22% gain for a year compared to 6-month gain of 46.48%. The firm has a 50-day simple moving average (SMA 50) of $0.61 and a 200-day simple moving average (SMA200) of $7.27.
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The stock witnessed a 10.75% loss in the last 1 month and extending the period to 3 months gives it a 16.49%, and is -2.15% down 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 2.14% over the week and 2.82% over the month.
Cleveland-Cliffs Inc (CLF) has around 28000 employees, a market worth around $11.09B and $22.00B in sales. Current P/E ratio is 28.67 and Fwd P/E is 11.61. Profit margin for the company is 1.81%. Distance from 52-week low is 63.48% and -3.13% from its 52-week high. The company has generated returns on investments over the last 12 months (3.50%).
Cleveland-Cliffs Inc quarterly earnings per share for the current quarter are estimated at $0.25 with sales reaching $5.36B over the same period.The EPS is expected to grow by 29.84% this year, but quarterly earnings will post -2.70% year-over-year. Quarterly sales are estimated to grow 1.30% in year-over-year returns.
Cleveland-Cliffs Inc (CLF) Top Institutional Holders
823 institutions hold shares in Cleveland-Cliffs Inc (CLF), with institutional investors hold 73.71% of the company’s shares. The shares outstanding are 504.89M, and float is at 487.98M with Short Float at 6.51%. Institutions hold 72.44% of the Float.
The top institutional shareholder in the company is Vanguard Group Inc with over 50.82 million shares valued at $851.78 million. The investor’s holdings represent 9.99% of the CLF Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 50.25 million shares valued at $842.19 million to account for 9.88% of the shares outstanding. The other top investors are State Street Corporation which holds 21.77 million shares representing 4.28% and valued at over $364.93 million, while Fisher Asset Management, LLC holds 1.57% of the shares totaling 7.99 million with a market value of $133.95 million.
Cleveland-Cliffs Inc (CLF) Insider Activity
The most recent transaction is an insider sale by GREEN SUSAN MIRANDA,the company’sDirector. SEC filings show that GREEN SUSAN MIRANDA sold 6,500 shares of the company’s common stock on Mar 13 ’24 at a price of $20.40 per share for a total of $0.13 million. Following the sale, the insider now owns 90286.0 shares.
Cleveland-Cliffs Inc disclosed in a document filed with the SEC on Mar 06 ’24 that Yocum Arlene M (Director) bought a total of 2,000 shares of the company’s common stock. The trade occurred on Mar 06 ’24 and was made at $20.02 per share for $40050.0. Following the transaction, the insider now directly holds 94887.0 shares of the CLF stock.
Still, SEC filings show that on Mar 06 ’24, GONCALVES LOURENCO (Chairman, President & CEO) disposed off 187,136 shares at an average price of $20.19 for $3.78 million. The insider now directly holds 2,699,089 shares of Cleveland-Cliffs Inc (CLF).
