Cleveland-Cliffs Inc. (NYSE:CLF)’s traded shares stood at 20.92 million during the last session, with the company’s beta value hitting 2.25. At the close of trading, the stock’s price was $17.36, to imply a decrease of -1.42% or -$0.25 in intraday trading. The CLF share’s 52-week high remains $34.04, putting it -96.08% down since that peak but still an impressive 31.91% since price per share fell to its 52-week low of $11.82. The company has a valuation of $9.49B, with an average of 10.22 million shares in intraday trading volume over the past 10 days and average of 10.83 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 2.50. Of 13 analyst(s) looking at the stock, 1 analyst(s) give CLF a Sell rating. 0 of those analysts rate the stock as Overweight while 6 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 -$0.29.
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Cleveland-Cliffs Inc. (NYSE:CLF) trade information
After registering a -1.42% downside in the last session, Cleveland-Cliffs Inc. (CLF) has traded red over the past five days. The stock hit a weekly high of 19.80 this Friday, 03/17/23, dropping -1.42% in its intraday price action. The 5-day price performance for the stock is -10.38%, and -15.23% over 30 days. With these gigs, the year-to-date price performance is 7.76%. Short interest in Cleveland-Cliffs Inc. (NYSE:CLF) saw shorts transact 35.52 million shares and set a 3.08 days time to cover.
Analysts on Wall Street suggest a consensus price target of $22.12, implying an increase of 21.52% to the stock’s current value. The extremes give us $15.00 and $26.00 for target low and target high price respectively. As such, CLF has been trading -49.77% off suggested target high and 13.59% 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 underperformed competitors. Cleveland-Cliffs Inc. (CLF) shares are 13.99% up over the last 6 months, with its year-to-date growth rate lower than industry average at -41.97% against 14.10%. Revenue is forecast to shrink -117.20% this quarter before falling -98.00% for the next one. The rating firms project that company’s revenue will grow 12.90% compared to the previous financial year.
Revenue forecast for the current quarter as set by 7 analysts is $5.19 billion. Meanwhile, for the quarter ending Mar 2023, a total of 5 analyst(s) estimate revenue growth to $4.99 billion.Earnings reports from the last fiscal year show that sales brought in $5.35 billion and $5.96 billion respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to fall -2.90% before dropping -16.30% in the following quarter.
Cleveland-Cliffs Inc. has its next earnings report out between April 20 and April 24. 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 1.41% of total outstanding shares, with institutional holders owning 67.19% of the shares at 68.15% float percentage. In total, 67.19% institutions holds shares in the company, led by Blackrock Inc. As of Sep 29, 2022, the company held over 54.11 million shares (or 10.50% of shares), all amounting to roughly $728.84 million.
The next major institution holding the largest number of shares is Vanguard Group, Inc. (The) with 45.76 million shares, or about 8.88% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $616.35 million.
We also have iShares Core S&P Midcap ETF and Vanguard Total Stock Market Index Fund as the top two Mutual Funds with the largest holdings of the Cleveland-Cliffs Inc. (CLF) shares. Going by data provided on Dec 30, 2022, iShares Core S&P Midcap ETF holds roughly 15.91 million shares. This is just over 3.09% of the total shares, with a market valuation of $256.26 million. Data from the same date shows that the other fund manager holds a little less at 13.82 million, or 2.68% of the shares, all valued at about 186.14 million.