Cleveland-Cliffs Inc (NYSE:CLF) shares traded -2.51% lower at $15.17 on Wall Street last session.
CLF stock price is now -5.96% away from the 50-day moving average and -16.19% away from the 200-day moving average. The market capitalization of the company currently stands at $7.21B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
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 $3.03 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 $1.84 million. A total of 2.10% 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 $16.0004 and a two-hundred day moving average price translates $18.2374 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.
