Cleveland-Cliffs Inc (CLF) Volatility Spurs A Quest For Clarity

Currently, there are 504.89M common shares owned by the public and among those 495.09M shares have been available to trade.

Insiders at the company have transacted a total of 35 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 30 of these insider trades were purchases, accounting for 716,244 shares. Insider sales of the common stock occurred on 5 occasions, with total insider shares sold totaling 51,769 shares.

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However, the script later moved the day high at 20.02, up 2.85%. The company’s stock has a 5-day price change of -2.31% and 18.91% over the past three months. CLF shares are trading -2.69% year to date (YTD), with the 12-month market performance down to -1.68% lower. It has a 12-month low price of $13.61 and touched a high of $22.83 over the same period. CLF has an average intraday trading volume of 1.26 shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 5.10%, 4.91%, and 20.50% respectively.

Institutional ownership of Cleveland-Cliffs Inc (NYSE: CLF) shares accounts for 67.35% of the company’s 504.89M shares outstanding.

It has a market capitalization of $10.03B and a beta (3y monthly) value of 2.02. The stock’s trailing 12-month PE ratio is 25.60, while the earnings-per-share (ttm) stands at $0.78. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.40% over the week and 3.19% over the month.

Analysts forecast that Cleveland-Cliffs Inc (CLF) will achieve an EPS of $0.37 for the current quarter, $0.67 for the next quarter and $2.15 for 2025. The lowest estimate earnings-per-share for the quarter is $0.24 while analysts give the company a high EPS estimate of $0.48. Comparatively, EPS for the current quarter was -$0.11 a year ago. Earnings per share for the fiscal year are expected to increase by 60.60%, and -0.03% over the next financial year.

Looking at the support for the CLF, a number of firms have released research notes about the stock. JP Morgan stated their Overweight rating for the stock in a research note on February 09, 2024, with the firm’s price target at $24.

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