The stock of Cleveland-Cliffs Inc (NYSE:CLF) last traded at $11.26, down -1.23% from the previous session.
CLF stock price is now -20.62% away from the 50-day moving average and -36.30% away from the 200-day moving average. The market capitalization of the company currently stands at $5.27B.
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With the price target maintained at $16.50, Seaport Research Partners recently Upgraded its rating from Neutral to Buy for Cleveland-Cliffs Inc (NYSE: CLF). On June 11, 2024, JP Morgan Downgraded its previous ‘Overweight’ rating to ‘Neutral’ on the stock reducing its target price from $23 to quote $17, while ‘Jefferies’ rates the stock as ‘Buy’
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 $1.46 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 11 ’24, Director Taylor Douglas C sold 36,000 shares of the business’s stock. A total of $535,223 was realized by selling the stock at an average price of $14.87. This leaves the insider owning 100,536 shares of the company worth $1.13 million. A total of 2.14% of the company’s stock is owned by insiders.
During the past 12 months, Cleveland-Cliffs Inc has had a low of $11.02 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 $14.1104 and a two-hundred day moving average price translates $17.6483 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. For the current quarter, analysts expect CLF to generate $4.88B in revenue.
