Is Cleveland-Cliffs Inc (NYSE: CLF) Back In The Buying Zone?

Currently, there are 493.94M common shares owned by the public and among those 483.94M shares have been available to trade.

The company’s stock has a 5-day price change of -13.77% and -13.11% over the past three months. CLF shares are trading -50.00% year to date (YTD), with the 12-month market performance down to -43.53% lower. It has a 12-month low price of $10.21 and touched a high of $22.97 over the same period. CLF has an average intraday trading volume of 12.98 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 -14.33%, -18.76%, and -33.74% respectively.

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Institutional ownership of Cleveland-Cliffs Inc (NYSE: CLF) shares accounts for 70.35% of the company’s 493.94M shares outstanding.

It has a market capitalization of $4.70B and a beta (3y monthly) value of 1.92. The earnings-per-share (ttm) stands at -$0.96. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.94% over the week and 5.14% over the month.

Earnings per share for the fiscal year are expected to decrease by -160.45%, and 121.19% over the next financial year.

Looking at the support for the CLF, a number of firms have released research notes about the stock. Goldman stated their Buy rating for the stock in a research note on December 02, 2024, with the firm’s price target at $16. Seaport Research Partners coverage for the Cleveland-Cliffs Inc (CLF) stock in a research note released on August 27, 2024 offered a Buy rating with a price target of $16.50. JP Morgan was of a view on June 11, 2024 that the stock is Neutral, while Jefferies gave the stock Buy rating on May 20, 2024, issuing a price target of $22. Wolfe Research on their part issued Underperform rating on April 09, 2024.

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