Following A 4.64% Weekly Incline, Is It Still A Buy For Cleveland-Cliffs Inc. (NYSE: CLF)? – Marketing Sentinel
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Following A 4.64% Weekly Incline, Is It Still A Buy For Cleveland-Cliffs Inc. (NYSE: CLF)?

Cleveland-Cliffs Inc. (NYSE:CLF)’s traded shares stood at 5.23 million during the latest session, with the company’s beta value hitting 2.23. At the last check today, the stock’s price was $20.82, to imply an increase of 0.43% or $0.09 in intraday trading. The CLF share’s 52-week high remains $26.51, putting it -27.33% down since that peak but still an impressive 65.47% since price per share fell to its 52-week low of $7.19. The company has a valuation of $10.44B, with an average of 22.47 million shares in intraday trading volume over the past 10 days and average of 23.90 million shares over the past 3 months.

Analysts have given a consensus recommendation of an Overweight for Cleveland-Cliffs Inc. (CLF), translating to a mean rating of 2.30. Of 10 analyst(s) looking at the stock, 0 analyst(s) give CLF a Sell rating. 0 of those analysts rate the stock as Overweight while 4 advise Hold as 6 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at $2.16.

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Cleveland-Cliffs Inc. (NYSE:CLF) trade information

After registering a 0.43% upside in the latest session, Cleveland-Cliffs Inc. (CLF) has traded red over the past five days. The stock hit a weekly high of 21.14 this Thursday, 10/07/21, jumping 0.43% in its intraday price action. The 5-day price performance for the stock is 4.64%, and -10.57% over 30 days. With these gigs, the year-to-date price performance is 42.38%. Short interest in Cleveland-Cliffs Inc. (NYSE:CLF) saw shorts transact 45.0 million shares and set a 2.2 days time to cover.

Analysts on Wall Street suggest a consensus price target of $29.49, implying an increase of 29.4% to the stock’s recent value. The extremes give us $22.40 and $40.00 for target low and target high price respectively. As such, CLF has been trading -92.12% off suggested target high and -7.59% 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 outperformed competitors. Cleveland-Cliffs Inc. (CLF) shares are 16.26% up over the last 6 months, with its year-to-date growth rate higher than industry average at 3,470.59% against 20.80%. Revenue is forecast to grow 7,300.00% this quarter before jumping 5,525.00% for the next one. The rating firms project that company’s revenue will grow 280.00% compared to the previous financial year.

Revenue forecast for the current quarter as set by 5 analysts is $5.66 billion. Meanwhile, for the quarter ending Dec 2021, a total of 5 analyst(s) estimate revenue growth to $5.59 billion.Earnings reports from the last fiscal year show that sales brought in $1.65 billion and $2.26 billion respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 243.60% before jumping 147.60% in the following quarter.

An assessment of the company’s 5-year growth patterns shows that annual earnings shrunk an estimated -19.90% for the past 5-year period. While 2021 is set for a -131.30% return in earnings, projections for the next 5 years are at 27.43% annually.

CLF Dividends

Cleveland-Cliffs Inc. has its next earnings report out between October 21 and October 25. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Cleveland-Cliffs Inc. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

Cleveland-Cliffs Inc. (NYSE:CLF)’s Major holders

Cleveland-Cliffs Inc. insiders hold 8.93% of total outstanding shares, with institutional holders owning 73.10% of the shares at 80.27% float percentage. In total, 73.10% institutions holds shares in the company, led by Vanguard Group, Inc. (The). As of Jun 29, 2021, the company held over 42.03 million shares (or 8.41% of shares), all amounting to roughly $906.13 million.

The next major institution holding the largest number of shares is FMR, LLC with 41.51 million shares, or about 8.31% of shares outstanding. As of the market price on Jun 29, 2021, these shares were worth $895.02 million.

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We also have Vanguard Total Stock Market Index Fund and iShares Core S&P Midcap ETF as the top two Mutual Funds with the largest holdings of the Cleveland-Cliffs Inc. (CLF) shares. Going by data provided on Jun 29, 2021, Vanguard Total Stock Market Index Fund holds roughly 12.7 million shares. This is just over 2.54% of the total shares, with a market valuation of $273.79 million. Data from the same date shows that the other fund manager holds a little less at 12.35 million, or 2.47% of the shares, all valued at about 289.75 million.

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