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NYSE:CLF

Cleveland-Cliffs - CLF Stock Forecast, Price & News

$19.47
+0.24 (+1.25%)
(As of 08/16/2022 09:53 AM ET)
Add
Compare
Today's Range
$19.35
$19.69
50-Day Range
$14.52
$23.91
52-Week Range
$14.31
$34.04
Volume
36,670 shs
Average Volume
15.11 million shs
Market Capitalization
$10.07 billion
P/E Ratio
2.93
Dividend Yield
N/A
Price Target
$27.92

Cleveland-Cliffs MarketRank™ Forecast

Analyst Rating
Moderate Buy
2.71 Rating Score
Upside/​Downside
45.2% Upside
$27.92 Price Target
Short Interest
Healthy
8.31% of Shares Sold Short
Dividend Strength
N/A
Sustainability
N/A
News Sentiment
0.36mentions of Cleveland-Cliffs in the last 14 days
Based on 4 Articles This Week
Insider Trading
Selling Shares
$650,828 Sold Last Quarter
Proj. Earnings Growth
-38.29%
From $4.91 to $3.03 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.68 out of 5 stars

Basic Materials Sector

30th out of 170 stocks

Metal Mining Industry

3rd out of 18 stocks

CLF stock logo

About Cleveland-Cliffs (NYSE:CLF) Stock

Cleveland-Cliffs is the largest flat-rolled steel company and the largest iron ore pellet producer in North America. The company is vertically integrated from mining through iron making, steelmaking, rolling, finishing and downstream with hot and cold stamping of steel parts and components. The company was formerly known as Cliffs Natural Resources Inc. and changed its name to Cleveland-Cliffs Inc. in August 2017. Cleveland-Cliffs Inc. was founded in 1847 and is headquartered in Cleveland, Ohio.

Cleveland-Cliffs Trading Down 2.2 %

Shares of Cleveland-Cliffs stock opened at $19.23 on Tuesday. The firm has a market capitalization of $9.95 billion, a PE ratio of 2.89 and a beta of 2.25. The company has a current ratio of 2.20, a quick ratio of 0.75 and a debt-to-equity ratio of 0.67. The firm's 50 day moving average is $17.15 and its 200 day moving average is $22.29. Cleveland-Cliffs has a 1 year low of $14.31 and a 1 year high of $34.04.

Cleveland-Cliffs (NYSE:CLF - Get Rating) last posted its quarterly earnings data on Friday, July 22nd. The mining company reported $1.13 EPS for the quarter, missing analysts' consensus estimates of $1.40 by ($0.27). Cleveland-Cliffs had a net margin of 15.07% and a return on equity of 64.45%. The firm had revenue of $6.34 billion during the quarter, compared to the consensus estimate of $6.13 billion. During the same period in the prior year, the company posted $1.46 earnings per share. The company's revenue for the quarter was up 25.6% compared to the same quarter last year. Equities research analysts forecast that Cleveland-Cliffs will post 4.91 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CLF. The Goldman Sachs Group cut their target price on shares of Cleveland-Cliffs from $26.00 to $24.00 in a research note on Tuesday, July 12th. Morgan Stanley cut their target price on shares of Cleveland-Cliffs from $16.00 to $14.50 and set an "equal weight" rating on the stock in a research report on Monday, July 25th. B. Riley reduced their price objective on shares of Cleveland-Cliffs from $47.00 to $39.00 and set a "buy" rating on the stock in a research note on Wednesday, July 6th. Credit Suisse Group dropped their price objective on Cleveland-Cliffs from $37.00 to $30.00 and set an "outperform" rating on the stock in a research note on Thursday, July 21st. Finally, Clarkson Capital restated a "buy" rating on shares of Cleveland-Cliffs in a report on Tuesday, June 14th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Cleveland-Cliffs has a consensus rating of "Moderate Buy" and a consensus target price of $27.92.

Insider Buying and Selling at Cleveland-Cliffs

In related news, Director Douglas C. Taylor sold 28,150 shares of the business's stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $23.12, for a total transaction of $650,828.00. Following the sale, the director now directly owns 156,974 shares in the company, valued at approximately $3,629,238.88. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.43% of the company's stock.

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CLF Stock News Headlines

Copper Exploration Heating Up
Canada is already known as a miner's paradise. But British Columbia (BC) is quietly becoming the new copper hotspot. That's because copper is critical to the world's shift to renewable energy. Biden earmarked $226 billion in new infrastructure projects all requiring copper.
Copper Exploration Heating Up
Canada is already known as a miner's paradise. But British Columbia (BC) is quietly becoming the new copper hotspot. That's because copper is critical to the world's shift to renewable energy. Biden earmarked $226 billion in new infrastructure projects all requiring copper.
Why I Own Cleveland-Cliffs Stock
See More Headlines
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CLF Company Calendar

Last Earnings
7/22/2022
Today
8/16/2022
Next Earnings (Estimated)
10/28/2022
Fiscal Year End
12/31/2022

Industry, Sector and Symbol

Industry
Metal mining
Sub-Industry
Steel
CUSIP
18683K10
Employees
26,000
Year Founded
1847

Price Target and Rating

Average Stock Price Forecast
$27.92
High Stock Price Forecast
$39.00
Low Stock Price Forecast
$14.50
Forecasted Upside/Downside
+43.4%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.71
Research Coverage
7 Analysts

Profitability

Net Income
$2.99 billion
Pretax Margin
19.18%

Debt

Sales & Book Value

Annual Sales
$20.44 billion
Cash Flow
$8.58 per share
Book Value
$11.55 per share

Miscellaneous

Free Float
509,901,000
Market Cap
$10.07 billion
Optionable
Optionable
Beta
2.25

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CLF Stock - Frequently Asked Questions

Should I buy or sell Cleveland-Cliffs stock right now?

7 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Cleveland-Cliffs in the last twelve months. There are currently 2 hold ratings and 5 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" CLF shares.
View CLF analyst ratings
or view top-rated stocks.

What is Cleveland-Cliffs' stock price forecast for 2022?

7 brokers have issued twelve-month target prices for Cleveland-Cliffs' shares. Their CLF share price forecasts range from $14.50 to $39.00. On average, they anticipate the company's stock price to reach $27.92 in the next twelve months. This suggests a possible upside of 45.2% from the stock's current price.
View analysts price targets for CLF
or view top-rated stocks among Wall Street analysts.

How have CLF shares performed in 2022?

Cleveland-Cliffs' stock was trading at $21.77 at the start of the year. Since then, CLF shares have decreased by 11.7% and is now trading at $19.23.
View the best growth stocks for 2022 here
.

Are investors shorting Cleveland-Cliffs?

Cleveland-Cliffs saw a drop in short interest in the month of July. As of July 31st, there was short interest totaling 42,970,000 shares, a drop of 7.5% from the July 15th total of 46,430,000 shares. Based on an average trading volume of 17,800,000 shares, the days-to-cover ratio is currently 2.4 days.
View Cleveland-Cliffs' Short Interest
.

When is Cleveland-Cliffs' next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Friday, October 28th 2022.
View our CLF earnings forecast
.

How were Cleveland-Cliffs' earnings last quarter?

Cleveland-Cliffs Inc. (NYSE:CLF) issued its quarterly earnings data on Friday, July, 22nd. The mining company reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.40 by $0.27. The mining company earned $6.34 billion during the quarter, compared to analysts' expectations of $6.13 billion. Cleveland-Cliffs had a net margin of 15.07% and a trailing twelve-month return on equity of 64.45%. The company's revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.46 EPS.

What is Lourenco Goncalves' approval rating as Cleveland-Cliffs' CEO?

38 employees have rated Cleveland-Cliffs Chief Executive Officer Lourenco Goncalves on Glassdoor.com. Lourenco Goncalves has an approval rating of 87% among the company's employees.

What other stocks do shareholders of Cleveland-Cliffs own?

Based on aggregate information from My MarketBeat watchlists, some companies that other Cleveland-Cliffs investors own include Freeport-McMoRan (FCX), Bank of America (BAC), Rite Aid (RAD), Advanced Micro Devices (AMD), Micron Technology (MU), General Electric (GE), AT&T (T), Ford Motor (F), Cisco Systems (CSCO) and Intel (INTC).

What is Cleveland-Cliffs' stock symbol?

Cleveland-Cliffs trades on the New York Stock Exchange (NYSE) under the ticker symbol "CLF."

Who are Cleveland-Cliffs' major shareholders?

Cleveland-Cliffs' stock is owned by a variety of institutional and retail investors. Top institutional investors include FMR LLC (4.33%), State Street Corp (4.06%), Northern Trust Corp (0.83%), Twin Tree Management LP (0.00%), Principal Financial Group Inc. (0.46%) and Swiss National Bank (0.44%). Insiders that own company stock include Celso L Goncalves Jr, Douglas C Taylor, Eric M Rychel, Janet L Miller, John T Baldwin, Keith Koci, Lourenco Goncalves, M Ann Harlan, Ralph S Michael III, Robert P Fisher Jr and Susan Miranda Green.
View institutional ownership trends
.

How do I buy shares of Cleveland-Cliffs?

Shares of CLF stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

What is Cleveland-Cliffs' stock price today?

One share of CLF stock can currently be purchased for approximately $19.23.

How much money does Cleveland-Cliffs make?

Cleveland-Cliffs (NYSE:CLF) has a market capitalization of $9.95 billion and generates $20.44 billion in revenue each year. The mining company earns $2.99 billion in net income (profit) each year or $6.65 on an earnings per share basis.

How many employees does Cleveland-Cliffs have?

The company employs 26,000 workers across the globe.

Does Cleveland-Cliffs have any subsidiaries?
The following companies are subsidiares of Cleveland-Cliffs: AK Steel, ArcelorMittal, Cliffs Mining Company, Cliffs Minnesota Mining Company, Cliffs TIOP Holding LLC, Cliffs TIOP II LLC, Cliffs TIOP Inc., Cliffs UTAC Holding LLC, Consolidated Thompson Iron Mines Limited, IronUnits LLC, Northshore Mining Company, PinnOak Resources, and The Cleveland-Cliffs Iron Company.
Read More
When was Cleveland-Cliffs founded?

Cleveland-Cliffs was founded in 1847.

How can I contact Cleveland-Cliffs?

Cleveland-Cliffs' mailing address is 200 PUBLIC SQUARE SUITE 3300, CLEVELAND OH, 44114. The official website for the company is www.clevelandcliffs.com. The mining company can be reached via phone at 216-694-5700, via email at paul.finan@clevelandcliffs.com, or via fax at 216-694-4880.

This page (NYSE:CLF) was last updated on 8/16/2022 by MarketBeat.com Staff

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