Cleveland-Cliffs Inc. (NYSE:CLF)’s traded shares stood at 7,582,833 during the last session, with the company’s beta value hitting 2.05. At the close of trading, the stock’s price was $9.27, to imply an increase of 4.22% or $0.38 in intraday trading. The CLF share’s 52-week high remains $9.5, putting it -2.48% down since that peak but still an impressive +71.63% since price per share fell to its 52-week low of $2.63. The company has a valuation of $3.7 Billion, with an average of 8Million shares in intraday trading volume over the past 10 days and average of 9.84 Million shares over the past 3 months.
Analysts have given a consensus recommendation of Overweight for Cleveland-Cliffs Inc. (CLF), translating to a mean rating of 2.9. Of 8 analyst(s) looking at the stock, none analyst(s) give CLF a Sell rating. None of those analysts rate the stock as Overweight while 5 advise Hold as 3 recommend it as a Buy. None analyst(s) have given it an Underweight rating. Estimates put the company’s earnings per share at $0.13.
Cleveland-Cliffs Inc. (NYSE:CLF) trade information
After registering a 4.22% upside on the day, Cleveland-Cliffs Inc. (CLF) has traded green over the past five days. The stock hit a weekly high of $9.50-2 this Friday, Nov 20, jumping 2.89% in its intraday price action. The 5-day price performance for the stock is 8.53%, and 18.57% over 30 days. With these gigs, the year-to-date price performance is 9.82%. Short interest in Cleveland-Cliffs Inc. (NYSE:CLF) saw shorts transact 63.93 Million shares and set a 6.5 days time to cover.
Analysts on Wall Street suggest a consensus price target of $8.19, implying a decline of-11.65% to the stock’s current value. The extremes give us $5.25 and $13 for target low and target high price respectively. As such, CLF is trading +40.24% off suggested target high and -43.37% from its likely low.
Cleveland-Cliffs Inc. (CLF) estimates and forecasts
Looking at statistics comparing Cleveland-Cliffs Inc. share performance against respective industry, we note that the company has underperformed competitors. Cleveland-Cliffs Inc. (CLF) shares are +89.96% up over the last 6 months, with its year-to-date growth rate lower than industry average at -152.68% against 14.7%. But the company is tempering its growth estimates for the 2020 fiscal year. Revenue is forecast to decline -48% this quarter before jumping 73.7% for the next one. The company projects its revenue will grow 152.2% compared to the previous financial year.
Forecast revenue for the current quarter as set by 1 analysts is $1.98 Billion. Meanwhile, for the quarter ending March 01, 2021, a total of 1 analyst(s) estimate revenue growth to $1.51 Billion. Earnings reports from the last fiscal year show that sales brought in $534.1 Million for this quarter and $324.5 Million the next quarter. In this case, analysts estimate current quarter sales to rise 271.6% before jumping 366.8% in the following quarter.
An assessment of the company’s 5-year growth patterns shows that annual earnings fell an estimated -32% for the past 5-year period. While 2020 is set for a -69.7% return in earnings, projections for the next 5 years are at -2.74% annually.
Cleveland-Cliffs Inc. (NYSE:CLF)’s Major holders
Cleveland-Cliffs Inc. insiders hold 1.56% of total outstanding shares, with institutional holders owning 70.72% of the shares at 71.84% float percentage. In total, 408 institutions holds shares in the company, led by Blackrock Inc. As of Sep 29 this year, the company held over 58.84 Million shares (or 14.74% of shares), all amounting to roughly $377.78 Million.
The next major institution holding the largest number of shares is Vanguard Group, Inc. (The) with 40.29 Million shares, or about 10.09% of shares outstanding. As of the market price on 44103, these shares were worth $258.67 Million.
We also have iShares Core S&P Smallcap ETF and Fidelity Low-Priced Stock Fund as the top two Mutual Funds with the largest holdings of the Cleveland-Cliffs Inc. (CLF) shares. Going by data provided on 44103, iShares Core S&P Smallcap ETF holds roughly 24,777,304 shares. This is just over 6.21% of the total shares, with a market valuation of $159.07 Million. Data from the same date shows that the other fund manager holds a little less at 11.99 Million, or 3% of the shares, all valued at about $62.1 Million.