Cleveland-Cliffs Inc (NYSE:CLF) has a beta value of 1.96 and has seen 16.48 million shares traded in the last trading session. The company, currently valued at $6.27B, closed the last trade at $13.11 per share which meant it lost -$0.16 on the day or -1.21% during that session. The CLF stock price is -75.21% off its 52-week high price of $22.97 and 22.12% above the 52-week low of $10.21. If we look at the company’s 10-day average daily trading volume, we find that it stood at 9.25 million shares traded. The 3-month trading volume is 11.83 million shares.
The consensus among analysts is that Cleveland-Cliffs Inc (CLF) is Buy stock at the moment, with a recommendation rating of 2.80. 3 analysts rate the stock as a Sell, while 0 rate it as Overweight. 3 out of 15 have rated it as a Hold, with 9 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -0.27.
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Cleveland-Cliffs Inc (NYSE:CLF) trade information
Sporting -1.21% in the red in last session, the stock has traded in the red over the last five days, with the highest price hit on recent trading when the CLF stock price touched $13.11 or saw a rise of 5.14%. Year-to-date, Cleveland-Cliffs Inc shares have moved -35.80%, while the 5-day performance has seen it change -4.10%. Over the past 30 days, the shares of Cleveland-Cliffs Inc (NYSE:CLF) have changed 0.85%. Short interest in the company has seen 41.51 million shares shorted with days to cover at 3.47.
Wall Street analysts have a consensus price target for the stock at $20.6, which means that the shares’ value could jump 36.36% from current levels. The projected low price target is $10.13 while the price target rests at a high of $25.0. In that case, then, we find that the current price level is -90.69% off the targeted high while a plunge would see the stock lose 22.73% from current levels.
Cleveland-Cliffs Inc (CLF) estimates and forecasts
Figures show that Cleveland-Cliffs Inc shares have underperformed across the wider relevant industry. The company’s shares have lost -23.78% over the past 6 months, with this year growth rate of -134.58%, compared to 14.00% for the industry. Revenue growth from the last financial year stood is estimated to be -9.90%.
6 analysts offering their estimates for the company have set an average revenue estimate of 4.77B for the current quarter. 6 have an estimated revenue figure of 4.75B for the next ending quarter. Year-ago sales stood 5.61B and 5.11B respectively for this quarter and the next, and analysts expect sales will shrink by -14.90% for the current quarter and -9.90% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -26.78% over the past 5 years.
CLF Dividends
Cleveland-Cliffs Inc is expected to release its next earnings report in December this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Cleveland-Cliffs Inc (NYSE:CLF)’s Major holders
Insiders own 1.61% of the company shares, while shares held by institutions stand at 69.95% with a share float percentage of 71.09%. Investors are also buoyed by the number of investors in a company, with Cleveland-Cliffs Inc having a total of 792.0 institutions that hold shares in the company. The top two institutional holders are BLACKROCK INC. with over 51.42 million shares worth more than $791.31 million. As of 2024-06-30, BLACKROCK INC. held 10.4506% of shares outstanding.
The other major institutional holder is VANGUARD GROUP INC, with the holding of over 46.89 million shares as of 2024-06-30. The firm’s total holdings are worth over $721.69 million and represent 9.5312% of shares outstanding.
