Cleveland-Cliffs Inc (NYSE:CLF) shares traded 1.56% higher at $15.63 on Wall Street last session.
CLF stock price is now -6.57% away from the 50-day moving average and -13.34% away from the 200-day moving average. The market capitalization of the company currently stands at $7.43B.
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With the price target reduced from $23 to $17, JP Morgan Downgraded its rating from Overweight to Neutral for Cleveland-Cliffs Inc (NYSE: CLF). On May 20, 2024, Jefferies recently initiated its ‘Buy’ rating on the stock quoting a target price of $22, while ‘Wolfe Research’ rates the stock as ‘Underperform’
In other news, MICHAEL RALPH S III, Director bought 20,000 shares of the company’s stock on Jun 13 ’24. The stock was bought for $294,800 at an average price of $14.74. Upon completion of the transaction, the Director now directly owns 199,519 shares in the company, valued at $3.12 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 13 ’24, Director BALDWIN JOHN T bought 7,500 shares of the business’s stock. A total of $110,272 was incurred on buying the stock at an average price of $14.70. This leaves the insider owning 121,227 shares of the company worth $1.89 million. A total of 2.01% of the company’s stock is owned by insiders.
During the past 12 months, Cleveland-Cliffs Inc has had a low of $13.84 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. The fifty day moving average price for CLF is $16.6254 and a two-hundred day moving average price translates $18.0412 for the stock.
The latest earnings results from Cleveland-Cliffs Inc (NYSE: CLF) was released for 2024-03-31. 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.
