In yesterday’s Wall Street session, Cleveland-Cliffs Inc (NYSE:CLF) shares traded at $16.90, down -6.42% from the previous session.
CLF stock price is now -18.65% away from the 50-day moving average and -5.55% away from the 200-day moving average. The market capitalization of the company currently stands at $8.04B.
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With the price target maintained at $18, Wolfe Research recently Downgraded its rating from Peer Perform to Underperform for Cleveland-Cliffs Inc (NYSE: CLF). On March 13, 2024, Citigroup Downgraded its previous ‘Buy’ rating to ‘Neutral’ on the stock keeping its target price maintained at $22, while ‘Exane BNP Paribas’ rates the stock as ‘Underperform’
In other news, GREEN SUSAN MIRANDA, Director sold 6,500 shares of the company’s stock on Mar 13 ’24. The stock was sold for $132,601 at an average price of $20.40. Upon completion of the transaction, the Director now directly owns 90,286 shares in the company, valued at $1.53 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 06 ’24, Director Yocum Arlene M bought 2,000 shares of the business’s stock. A total of $40,050 was incurred on buying the stock at an average price of $20.02. This leaves the insider owning 94,887 shares of the company worth $1.6 million. A total of 1.84% of the company’s stock is owned by insiders.
During the past 12 months, Cleveland-Cliffs Inc has had a low of $13.61 and a high of $22.97. As of last week, the company has a debt-to-equity ratio of 0.51, a current ratio of 1.90, and a quick ratio of 0.59.
According to the Steel Company, earnings per share came in at 0.67, missing analysts’ expectations of 0.69 by -0.02. This compares to -$0.11 EPS in the same period last year. The net profit margin was 1.78% and return on equity was 5.28% for CLF. The company reported revenue of $5.2 billion for the quarter, compared to $5.29 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -1.81 percent. For the current quarter, analysts expect CLF to generate $5.36B in revenue.
