In yesterday’s Wall Street session, Cleveland-Cliffs Inc (NYSE:CLF) shares traded at $13.27, up 2.23% from the previous session.
CLF stock price is now 4.61% away from the 50-day moving average and -19.52% away from the 200-day moving average. The market capitalization of the company currently stands at $6.35B.
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 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 $1.71 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 $1.33 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 $10.21 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 $12.685 and a two-hundred day moving average price translates $16.48905 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.
