Cleveland-Cliffs Inc (NYSE:CLF)’s traded shares stood at 1.79 million during the latest session, with the company’s beta value hitting 1.92. At the last check today, the stock’s price was $12.05, to imply a decrease of -3.14% or -$0.39 in intraday trading. The CLF share’s 52-week high remains $22.97, putting it -90.62% down since that peak but still an impressive 15.27% since price per share fell to its 52-week low of $10.21. The company has a valuation of $5.95B, with an average of 11.48 million shares in intraday trading volume over the past 10 days and average of 13.17 million shares over the past 3 months.
Analysts have given a consensus recommendation of Buy for Cleveland-Cliffs Inc (CLF), translating to a mean rating of 2.46. Of 15 analyst(s) looking at the stock, 3 analyst(s) give CLF a Sell rating. 0 of those analysts rate the stock as Overweight while 3 advise Hold as 9 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 -0.44.
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Cleveland-Cliffs Inc (NYSE:CLF) trade information
After registering a -3.14% downside in the latest session, Cleveland-Cliffs Inc (CLF) has traded red over the past five days. The 5-day price performance for the stock is -0.74%, and 3.79% over 30 days. With these gigs, the year-to-date price performance is -40.99%. Short interest in Cleveland-Cliffs Inc (NYSE:CLF) saw shorts transact 42.42 million shares and set a 3.06 days time to cover.
The extremes give us $10.13 and $23 for target low and target high price respectively. As such, CLF has been trading -90.87% off suggested target high and 15.93% 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 -24.92% down over the last 6 months, with its year-to-date growth rate lower than industry average at -142.06% against 9.40%. The rating firms project that company’s revenue will shrink -11.98% compared to the previous financial year.
Revenue forecast for the current quarter as set by 6 analysts is 4.54B. Meanwhile, for the current quarter, a total of 5 analyst(s) estimate revenue growth to 4.99B.Earnings reports from the last fiscal year show that sales brought in 5.11B and 5.2B respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to fall -11.22% before dropping -4.10% in the following quarter.
CLF Dividends
Cleveland-Cliffs Inc has its next earnings report out in January. 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. The company’s average dividend yield trailing the past 5-year period is 4.7%.
Cleveland-Cliffs Inc (NYSE:CLF)’s Major holders
Cleveland-Cliffs Inc insiders hold 1.60% of total outstanding shares, with institutional holders owning 71.00% of the shares at 72.15% float percentage. In total, 71.00% institutions holds shares in the company, led by BLACKROCK INC. As of 2024-06-30, the company held over 51.42 million shares (or 10.4506% of shares), all amounting to roughly $791.31 million.
The next major institution holding the largest number of shares is VANGUARD GROUP INC with 46.89 million shares, or about 9.5312% of shares outstanding. As of the market price on 2024-06-30, these shares were worth $721.69 million.
We also have Pacer U.S. Cash Cows 100 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 Jul 31, 2024, Pacer U.S. Cash Cows 100 ETF holds roughly 22.87 shares. This is just over 4.63% of the total shares, with a market valuation of $273.4 million. Data from the same date shows that the other fund manager holds a little less at 14.66, or 2.97% of the shares, all valued at about 175.29 million.
