In the last trading session, 16.43 million Cleveland-Cliffs Inc (NYSE:CLF) shares changed hands as the company’s beta touched 1.82. With the company’s per share price at $10.15 changed hands at -$0.24 or -2.31% during last session, the market valuation stood at $5.02B. CLF’s last price was a discount, traded about -126.31% off its 52-week high of $22.97. The share price had its 52-week low at $8.50, which suggests the last value was 16.26% up since then. When we look at Cleveland-Cliffs Inc’s average trading volume, we note the 10-day average is 24.98 million shares, with the 3-month average coming to 18.32 million.
Analysts gave the Cleveland-Cliffs Inc (CLF) stock a consensus recommendation rating of Buy, calculated at a mean rating of 2.36. If we narrow down to specifics, the data shows that 3 out of 15 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 3 recommended CLF as a Hold, 9 felt it is a Buy and 0 rated the stock as Underweight. Cleveland-Cliffs Inc’s EPS for the current quarter is expected to be -0.73.
Cleveland-Cliffs Inc (NYSE:CLF) trade information
Instantly CLF was in red as seen at the end of in last trading. With action 16.00%, the performance over the past five days has been green. The company’s shares are showing year-to-date upside of 7.98%, with the 5-day performance at 16.00% in the green. However, in the 30-day time frame, Cleveland-Cliffs Inc (NYSE:CLF) is -10.89% down. Looking at the short shares, we see there were 54.24 million shares sold at short interest cover period of 2.82 days.
The consensus price target for the stock as assigned by Wall Street analysts is 11, meaning bulls need an upside of 7.73% from its current market value. According to analyst projections, CLF’s forecast low is 11 with 11 as the target high. To hit the forecast high, the stock’s price needs a -8.37% plunge from its current level, while the stock would need to soar -8.37% for it to hit the projected low.
Cleveland-Cliffs Inc (CLF) estimates and forecasts
Year-over-year growth is forecast to reach 7.21% up from the last financial year.
Consensus estimates given by 6 financial analysts project the company’s revenue in the current quarter to hit an average of 4.73B. 6 analysts are of the opinion that Cleveland-Cliffs Inc’s revenue for the current quarter will be 5.31B. The company’s revenue for the corresponding quarters a year ago was 5.2B and 5.09B respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -9.06%. The estimates for the next quarter sales put growth at 4.27%.
The 2025 estimates are for Cleveland-Cliffs Inc earnings to increase by 45.39%.
CLF Dividends
Cleveland-Cliffs Inc is expected to release its next quarterly earnings report on 2025-Feb-23. During the past 5 years, the average dividend yield was 4.7 per year.
Cleveland-Cliffs Inc (NYSE:CLF)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 1.76% of Cleveland-Cliffs Inc shares while 73.93% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 75.25%. There are 73.93% institutions holding the Cleveland-Cliffs Inc stock share, with BLACKROCK INC. the top institutional holder. As of 2024-06-30, the company held 10.4506% of the shares, roughly 51.42 million CLF shares worth $791.31 million.
VANGUARD GROUP INC holds the second largest percentage of outstanding shares, with 9.5312% or 46.89 million shares worth $721.69 million as of 2024-06-30.
Among Mutual Funds, the top two as of Oct 31, 2024 were Pacer U.S. Cash Cows 100 ETF and iShares Core S&P Midcap ETF . With 25.93 shares estimated at $263.18 million under it, the former controlled 5.24% of total outstanding shares. On the other hand, iShares Core S&P Midcap ETF held about 3.19% of the shares, roughly 15.8 shares worth around $160.35 million.
