Currently, there are 504.89M common shares owned by the public and among those 488.64M shares have been available to trade.
Insiders at the company have transacted a total of 27 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 22 of these insider trades were purchases, accounting for 199,416 shares. Insider sales of the common stock occurred on 5 occasions, with total insider shares sold totaling 51,769 shares.
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The company’s stock has a 5-day price change of 5.77% and 23.42% over the past three months. CLF shares are trading 1.42% year to date (YTD), with the 12-month market performance up to 5.02% higher. 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 9.55 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.56%, 6.46%, and 23.64% respectively.
Institutional ownership of Cleveland-Cliffs Inc (NYSE: CLF) shares accounts for 68.29% of the company’s 504.89M shares outstanding.
It has a market capitalization of $10.32B and a beta (3y monthly) value of 2.01. The stock’s trailing 12-month PE ratio is 26.68, 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 1.94% over the week and 3.06% over the month.
Analysts forecast that Cleveland-Cliffs Inc (CLF) will achieve an EPS of $0.32 for the current quarter, $0.67 for the next quarter and $2.25 for 2025. The lowest estimate earnings-per-share for the quarter is $0.14 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 51.82%, and 8.08% over the next financial year.
Looking at the support for the CLF, a number of firms have released research notes about the stock. Morgan Stanley stated their Equal-Weight rating for the stock in a research note on February 15, 2024, with the firm’s price target at $21.50-$20. JP Morgan coverage for the Cleveland-Cliffs Inc (CLF) stock in a research note released on February 09, 2024 offered a Overweight rating with a price target of $24. Argus was of a view on February 08, 2024 that the stock is Hold, while JP Morgan gave the stock Overweight rating on January 12, 2024, issuing a price target of $19- $23. Citigroup on their part issued Buy rating on September 25, 2023.
