Cleveland-Cliffs Inc [CLF] stock prices are up 4.43% to $20.96 at the moment. An important factor to consider is whether the stock is rising or falling in short-term value. The CLF shares have gain 2.39% over the last week, with a monthly amount glided 5.49%, and seem to be holding up well over a long-time horizon.
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On 18, March 2024, Cleveland-Cliffs Announces Final Results of Tender Offer. In a post published today on Yahoo Finance, Cleveland-Cliffs Inc. (NYSE: CLF) announced today the expiration of and final results for its previously announced offer to purchase for cash (the “Tender Offer”) any and all of its outstanding 6.750% Senior Secured Notes due 2026 (the “Notes”). The Tender Offer expired at 5:00 p.m., New York City time, on March 13, 2024 (the “Expiration Time”).
From an analyst’s perspective:
Cleveland-Cliffs Inc [NYSE: CLF] stock has seen the most recent analyst activity on March 13, 2024, when Citigroup downgraded its rating to a Neutral but kept the price target unchanged to $22 for it. Previously, Exane BNP Paribas downgraded its rating to Underperform on February 28, 2024, and kept the price target unchanged to $16.50. On February 15, 2024, downgrade downgraded it’s rating to Equal-Weight and revised its price target to $20 on the stock. Argus downgraded its rating to a Hold. In a note dated September 25, 2023, Citigroup upgraded an Buy rating on this stock but restated the target price of $22.
The stock price of Cleveland-Cliffs Inc [CLF] has been fluctuating between $13.61 and $21.47 over the past year. Currently, Wall Street analysts expect the stock to reach $20.13 within the next 12 months. Cleveland-Cliffs Inc [NYSE: CLF] shares were valued at $20.96 at the most recent close of the market. An investor can expect a potential drop of -3.96% based on the average CLF price forecast.
Analyzing the CLF fundamentals
The Cleveland-Cliffs Inc [NYSE:CLF] reported sales of 22.00B for trailing twelve months, representing a surge of 1.35%. Gross Profit Margin for this corporation currently stands at 0.06% with Operating Profit Margin at 0.03%, Pretax Profit Margin comes in at 0.03%, and Net Profit Margin reading is 0.02%. To continue investigating profitability, this company’s Return on Assets is posted at 0.02, Equity is 0.05 and Total Capital is 0.05. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.41.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 20.23 points at the first support level, and at 19.51 for the second support level. However, for the 1st resistance point, the stock is sitting at 21.43, and for the 2nd resistance point, it is at 21.90.
Cleveland-Cliffs Inc [CLF] reported earnings per share of -$0.05 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$0.06/share, meaning a difference of $0.01 and a surprise factor of 16.70%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.52 per share as compared to estimates of $0.43 per share, a difference of $0.09 representing a surprise of 20.90%.
Ratios To Look Out For
It’s worth pointing out that Cleveland-Cliffs Inc [NYSE:CLF]’s Current Ratio is 1.89. On the other hand, the Quick Ratio is 0.62, and the Cash Ratio is 0.06. Considering the valuation of this stock, the price to sales ratio is 0.47, the price to book ratio is 1.34 and price to earnings (TTM) ratio is 27.01.
Transactions by insiders
Recent insider trading involved GREEN SUSAN MIRANDA, Director, that happened on Mar 13 ’24 when 6500.0 shares were sold. Director, Yocum Arlene M completed a deal on Mar 06 ’24 to buy 2000.0 shares. Meanwhile, Chairman, President & CEO GONCALVES LOURENCO sold 0.19 million shares on Mar 06 ’24.
