In yesterday’s Wall Street session, Cleveland-Cliffs Inc (NYSE:CLF) shares traded at $13.18, down -1.20% from the previous session.
CLF stock price is now -13.86% away from the 50-day moving average and -26.99% away from the 200-day moving average. The market capitalization of the company currently stands at $6.17B.
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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, BALDWIN JOHN T, Director bought 8,000 shares of the company’s stock on Aug 01 ’24. The stock was bought for $116,240 at an average price of $14.53. Upon completion of the transaction, the Director now directly owns 129,227 shares in the company, valued at $1.7 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 13 ’24, Director MICHAEL RALPH S III bought 20,000 shares of the business’s stock. A total of $294,800 was incurred on buying the stock at an average price of $14.74. This leaves the insider owning 199,519 shares of the company worth $2.63 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 $13.06 and a high of $22.97. As of last week, the company has a debt-to-equity ratio of 0.49, a current ratio of 1.87, and a quick ratio of 0.60. The fifty day moving average price for CLF is $15.2288 and a two-hundred day moving average price translates $18.04695 for the stock.
The latest earnings results from Cleveland-Cliffs Inc (NYSE: CLF) was released for 2024-06-30. The net profit margin was 0.21% and return on equity was 0.59% for CLF. The company reported revenue of $5.09 billion for the quarter, compared to $5.98 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -14.91 percent.
