Cleveland-Cliffs Inc (NYSE:CLF) shares traded 0.56% higher at $17.80 on Wall Street last session.
CLF stock price is now -11.80% away from the 50-day moving average and -0.65% away from the 200-day moving average. The market capitalization of the company currently stands at $8.46B.
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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, GONCALVES LOURENCO, Chairman, President & CEO bought 60,000 shares of the company’s stock on May 01 ’24. The stock was bought for $1,005,666 at an average price of $16.76. Upon completion of the transaction, the Chairman, President & CEO now directly owns 2,759,089 shares in the company, valued at $49.11 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 01 ’24, Director Bloom Ron A. bought 25,000 shares of the business’s stock. A total of $424,875 was incurred on buying the stock at an average price of $17.00. This leaves the insider owning 59,900 shares of the company worth $1.07 million. A total of 2.00% 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 $5.33B in revenue.
