Seaport Research Partners has recently raised Cleveland-Cliffs Inc (CLF) stock to Buy rating, as announced on August 27, 2024, according to Finviz. Earlier, on June 11, 2024, JP Morgan had reduced the stock from a Overweight to Neutral, setting a price target of $17 for CLF stock. Jefferies also initiated Buy rating with a price target of $22. Additionally, Wolfe Research reduced Underperform rating on April 9, 2024, with a target price of $18. Citigroup analysts, in their report published on March 13, 2024, also reduced Neutral rating and set a price target of $22 for Cleveland-Cliffs Inc’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.
Cleveland-Cliffs Inc (CLF) Stock Trading Recap
On Tuesday, Cleveland-Cliffs Inc (CLF) stock saw a decline, ending the day at $11.61 which represents a decrease of $-1.50 or -11.44% from the prior close of $13.11. The stock opened at $12.21 and touched a low of $11.39 during the day, reaching a high of $12.28. The volume of shares traded was 36.47 million exceeding the average volume of 11.91 million.
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CLF Stock Performance and Moving Averages
In recent trading, Cleveland-Cliffs Inc (CLF) stock price has shown some volatility, fluctuating -15.38% over the last five trades and -10.55% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by -32.93%, and it has plunged by -12.90% in the previous three months. Currently, CLF is trading at -11.81%, -8.14%, and -29.35% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
As of the latest trading close, CLF, a Basic Materials sector stock, is trading -49.46% below its 52-week high but remains 13.71% above its 52-week low. The Average True Range (ATR) (14 days) of 0.57 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.
Cleveland-Cliffs Inc’s Profitability and Valuation Ratios
Cleveland-Cliffs Inc’s profitability metrics reveal strong financial health. The company currently boasts an operating margin of 0.50% and a profit margin of -2.31%, with a gross margin of -32.93%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.
In terms of valuation, Cleveland-Cliffs Inc’s market capitalization stands at $5.43 billion. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. The forward P/E ratio, which uses projected earnings for the next financial year, is 26.79. Additionally, the Price-to-Sales Ratio is 0.27, reflecting the market’s valuation of the company’s sales, while the Price-to-Book Ratio is 0.76, comparing the market value to the company’s book value.
Understanding Insider Trading
Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 2.14% of Cleveland-Cliffs Inc (CLF)’s shares, while financial institutions hold 72.78%.
Notable insider trades include Taylor Douglas C, Director at Cleveland-Cliffs Inc (CLF), who sold 36000 shares on Jun 11 ’24, at $14.87 each, totaling $0.54 million. On Mar 13 ’24, GREEN SUSAN MIRANDA, Director, sold 6500 shares for $20.4 each, amounting to $0.13 million. Additionally, on Mar 06 ’24, Fedor Terry G. sold 27430 shares at $20.19 each, generating $0.55 million.