Extremely important negative changes in investment behavior have recently occurred for Cleveland-Cliffs Inc (NYSE: CLF): the stock’s recent price decline challenged its longer term uptrend, and its shorter term price trend turned down.
Cleveland-Cliffs Inc (NYSE: CLF). Meaningful negative changes in fundamentals have recently occurred. Negative developments: significant quarterly sales deceleration occurred, the consensus estimate for December, 2024 decreased significantly, and the consensus estimate for December, 2025 decreased significantly. Positive development: significant quarterly earnings acceleration occurred.
In light of these highly negative signals we are reviewing our current Overall Rating of A. We would view the shares with caution pending completion of this review in the next several days.
Current PriceTarget Research Rating
CLF’s future returns on capital are forecasted to be above the cost of capital. Accordingly, the company is expected to continue to be a Value Builder.
Cleveland-Cliffs has a current Value Trend Rating of A (Highest Rating). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing highly consistent signals. Cleveland-Cliffs has a very high Power Rating of 86 and a very high Appreciation Score of 88, with the Highest Value Trend Rating the result.
Recent Price Action
Cleveland-Cliffs Inc (NYSE: CLF) stock closed at $17.88 on 4/26/24 after a modest decline of -1.9%. This decline was accompanied by normal trading volume. The stock has declined -14.2% during the last week but has been exceptionally strong relative to the market over the last nine months.
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