In the latest trading session, 6.19 million Cleveland-Cliffs Inc (NYSE:CLF) shares changed hands as the company’s beta touched 1.97. With the company’s most recent per share price at $7.41 changing hands around $0.07 or 1.02% at last look, the market valuation stands at $3.67B. CLF’s current price is a discount, trading about -205.94% off its 52-week high of $22.67. The share price had its 52-week low at $6.17, which suggests the last value was 16.73% up since then. When we look at Cleveland-Cliffs Inc’s average trading volume, we note the 10-day average is 28.0 million shares, with the 3-month average coming to 20.25 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 -0.78.
Cleveland-Cliffs Inc (NYSE:CLF) trade information
Instantly CLF is in green as seen in intraday trades today. With action -8.46%, the performance over the past five days has been red. The company’s shares are showing year-to-date downside of -21.12%, with the 5-day performance at -8.46% in the red. However, in the 30-day time frame, Cleveland-Cliffs Inc (NYSE:CLF) is -15.26% down. Looking at the short shares, we see there were 58.28 million shares sold at short interest cover period of 2.67 days.
The consensus price target for the stock as assigned by Wall Street analysts is 11, meaning bulls need an upside of 32.64% from its recent 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 -48.45% plunge from its current level, while the stock would need to soar -48.45% for it to hit the projected low.
Cleveland-Cliffs Inc (CLF) estimates and forecasts
Year-over-year growth is forecast to reach 5.41% up from the last financial year.
Consensus estimates given by 7 financial analysts project the company’s revenue in the current quarter to hit an average of 4.64B. 7 analysts are of the opinion that Cleveland-Cliffs Inc’s revenue for the current quarter will be 5.15B. 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 -10.72%. The estimates for the next quarter sales put growth at 1.17%.
The 2025 estimates are for Cleveland-Cliffs Inc earnings to increase by 19.24%.
Cleveland-Cliffs Inc (NYSE:CLF)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 1.63% of Cleveland-Cliffs Inc shares while 73.90% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 75.13%. There are 73.90% institutions holding the Cleveland-Cliffs Inc stock share, with BLACKROCK INC. the top institutional holder. As of 2024-06-30, the company held 10.8704% 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 Feb 28, 2025 were iShares Trust-iShares Core S&P Mid-Cap ETF and VANGUARD INDEX FUNDS-Vanguard Total Stock Market Index Fund. With 15.74 shares estimated at $115.52 million under it, the former controlled 3.18% of total outstanding shares. On the other hand, VANGUARD INDEX FUNDS-Vanguard Total Stock Market Index Fund held about 3.15% of the shares, roughly 15.57 shares worth around $114.28 million.
