During the recent session, Cleveland-Cliffs Inc (NYSE:CLF)’s traded shares were 2.81 million, with the beta value of the company hitting 1.95. At the last check today, the stock’s price was $11.40, reflecting an intraday gain of 0.13% or $0.01. The 52-week high for the CLF share is $22.97, that puts it down -101.49 from that peak though still a striking 21.14% gain since the share price plummeted to a 52-week low of $8.99. The company’s market capitalization is $5.63B, and the average intraday trading volume over the past 10 days was 23.08 million shares, and the average trade volume was 15.48 million shares over the past three months.
Cleveland-Cliffs Inc (CLF) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 2.36. CLF has a Sell rating from 3 analyst(s) out of 15 analysts who have looked at this stock. 3 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 9 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -0.67.
Cleveland-Cliffs Inc (NYSE:CLF) trade information
Cleveland-Cliffs Inc (CLF) registered a 0.13% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 0.13% in intraday trading to $11.40, hitting a weekly high. The stock’s 5-day price performance is 13.60%, and it has moved by 11.38% in 30 days. Based on these gigs, the overall price performance for the year is -40.51%. The short interest in Cleveland-Cliffs Inc (NYSE:CLF) is 42.18 million shares and it means that shorts have 3.31 day(s) to cover.
The consensus price target of analysts on Wall Street is $13.75, which implies an increase of 17.09% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $11 and $16.5 respectively. As a result, CLF is trading at a discount of -44.74% off the target high and 3.51% off the low.
Cleveland-Cliffs Inc (CLF) estimates and forecasts
In the rating firms’ projections, revenue will decrease -12.86% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 4.31B as predicted by 2 analyst(s). Meanwhile, a consensus of 4 analyst(s) estimates revenue growth to 4.82B by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 5.11B and 5.2B respectively. In this case, analysts expect current quarter sales to shrink by -15.74% and then drop by -7.19% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -26.78%. While earnings are projected to return -151.65% in 2025, the next five years will return -10.28% per annum.
CLF Dividends
Cleveland-Cliffs Inc is due to release its next quarterly earnings in March. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. The average dividend yield of the company for the last 5 years is 4.7%.
Cleveland-Cliffs Inc (NYSE:CLF)’s Major holders
Cleveland-Cliffs Inc insiders own 1.78% of total outstanding shares while institutional holders control 65.86%, with the float percentage being 67.05%. BLACKROCK INC. is the largest shareholder of the company, while 750.0 institutions own stock in it. As of 2024-06-30, the company held over 51.42 million shares (or 10.4506% of all shares), a total value of $791.31 million in shares.
The next largest institutional holding, with 46.89 million shares, is of VANGUARD GROUP INC’s that is approximately 9.5312% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $721.69 million.
Also, the Mutual Funds coming in first place with the largest holdings of Cleveland-Cliffs Inc (CLF) shares are Pacer U.S. Cash Cows 100 ETF and iShares Core S&P Midcap ETF. Data provided on Oct 31, 2024 indicates that Pacer U.S. Cash Cows 100 ETF owns about 25.93 shares. This amounts to just over 5.25 percent of the company’s overall shares, with a $293.0 million market value. The same data shows that the other fund manager holds slightly less at 15.51, or about 3.14% of the stock, which is worth about $175.25 million.
