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NYSE:CLF

Cleveland-Cliffs - CLF Stock Forecast, Price & News

$17.79
-0.66 (-3.58%)
(As of 08/19/2022 12:00 AM ET)
Add
Compare
Today's Range
$17.68
$18.13
50-Day Range
$14.52
$19.75
52-Week Range
$14.31
$34.04
Volume
8.39 million shs
Average Volume
20.08 million shs
Market Capitalization
$9.20 billion
P/E Ratio
2.68
Dividend Yield
N/A
Price Target
$27.92

Cleveland-Cliffs MarketRank™ Forecast

Analyst Rating
Moderate Buy
2.71 Rating Score
Upside/​Downside
56.9% Upside
$27.92 Price Target
Short Interest
Healthy
8.31% of Shares Sold Short
Dividend Strength
N/A
Sustainability
N/A
News Sentiment
0.63mentions of Cleveland-Cliffs in the last 14 days
Based on 12 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.

2.85 out of 5 stars

Basic Materials Sector

26th out of 167 stocks

Metal Mining Industry

4th out of 19 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.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CLF shares. The Goldman Sachs Group dropped their price objective on Cleveland-Cliffs from $26.00 to $24.00 in a report on Tuesday, July 12th. B. Riley reduced their price target on Cleveland-Cliffs from $47.00 to $39.00 and set a "buy" rating for the company in a research report on Wednesday, July 6th. Credit Suisse Group cut their price objective on Cleveland-Cliffs from $37.00 to $30.00 and set an "outperform" rating for the company in a research report on Thursday, July 21st. JPMorgan Chase & Co. lowered their price objective on Cleveland-Cliffs from $43.00 to $37.00 in a research note on Tuesday, June 14th. Finally, Morgan Stanley lowered their price objective on Cleveland-Cliffs from $16.00 to $14.50 and set an "equal weight" rating on the stock in a research note on Monday, July 25th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $27.92.

Cleveland-Cliffs Price Performance

Shares of CLF Stock traded down $0.58 during trading hours on Friday, reaching $17.87. The company's stock had a trading volume of 236,424 shares, compared to its average volume of 14,516,242. The firm's 50 day simple moving average is $16.94 and its 200-day simple moving average is $22.26. The company has a market capitalization of $9.24 billion, a price-to-earnings ratio of 2.77 and a beta of 2.24. Cleveland-Cliffs has a fifty-two week low of $14.31 and a fifty-two week high of $34.04. The company has a quick ratio of 0.75, a current ratio of 2.20 and a debt-to-equity ratio of 0.67.

Cleveland-Cliffs (NYSE:CLF - Get Rating) last issued 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 return on equity of 64.45% and a net margin of 15.07%. The company had revenue of $6.34 billion for the quarter, compared to the consensus estimate of $6.13 billion. During the same period in the prior year, the firm posted $1.46 earnings per share. The business's revenue for the quarter was up 25.6% on a year-over-year basis. Sell-side analysts forecast that Cleveland-Cliffs will post 4.91 earnings per share for the current year.

Insider Transactions at Cleveland-Cliffs

In other news, CFO Celso L. Goncalves, Jr. bought 5,000 shares of the company's stock in a transaction dated Tuesday, August 16th. The stock was bought at an average cost of $19.36 per share, for a total transaction of $96,800.00. Following the completion of the acquisition, the chief financial officer now owns 148,285 shares in the company, valued at approximately $2,870,797.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Douglas C. Taylor sold 28,150 shares of the company's stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $23.12, for a total transaction of $650,828.00. Following the transaction, the director now directly owns 156,974 shares in the company, valued at approximately $3,629,238.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Celso L. Goncalves, Jr. acquired 5,000 shares of the stock in a transaction on Tuesday, August 16th. The stock was bought at an average cost of $19.36 per share, with a total value of $96,800.00. Following the completion of the transaction, the chief financial officer now owns 148,285 shares in the company, valued at $2,870,797.60. The disclosure for this purchase can be found here. Insiders own 1.43% of the company's stock.

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CLF Company Calendar

Last Earnings
7/22/2022
Today
8/19/2022
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
+56.9%
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
$8.35 per share
Book Value
$13.52 per share

Miscellaneous

Free Float
509,901,000
Market Cap
$9.20 billion
Optionable
Optionable
Beta
2.24

Social Links


Key Executives

  • Mr. C. Lourenco GoncalvesMr. C. Lourenco Goncalves (Age 60)
    Chairman, Pres & CEO
  • Mr. Timothy K. Flanagan (Age 40)
    Exec. VP & CFO
  • Mr. Clifford T. Smith (Age 58)
    Exec. VP of Bus. Devel.
  • Mr. Terry G. Fedor (Age 53)
    Exec. VP of United States Iron Ore
  • Mr. R. Christopher Cebula (Age 47)
    VP, Corp. Controller & Chief Accounting Officer













CLF Stock - Frequently Asked Questions

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

7 Wall Street research 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 research 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 analysts have issued 1 year price targets for Cleveland-Cliffs' shares. Their CLF share price forecasts range from $14.50 to $39.00. On average, they expect the company's share price to reach $27.92 in the next year. This suggests a possible upside of 56.9% 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 on January 1st, 2022. Since then, CLF stock has decreased by 18.3% and is now trading at $17.79.
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 daily 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) posted its earnings results on Friday, July, 22nd. The mining company reported $1.13 EPS for the quarter, missing the consensus estimate of $1.40 by $0.27. The mining company had revenue of $6.34 billion for the quarter, compared to the consensus estimate 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 business's revenue was up 25.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.46 earnings per share.

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%), Goldman Sachs Group Inc. (0.51%), Twin Tree Management LP (0.00%) and Principal Financial Group Inc. (0.46%). 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 $17.79.

How much money does Cleveland-Cliffs make?

Cleveland-Cliffs (NYSE:CLF) has a market capitalization of $9.20 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 8/19/2022 by MarketBeat.com Staff

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