Do Cleveland-Cliffs Inc. (CLF) beta value of 2.25 signposts another twist?

Cleveland-Cliffs Inc. (CLF) is priced at $22.20 after the most recent trading session. At the very opening of the session, the stock price was $22.45 and reached a high price of $22.83, prior to closing the session it reached the value of $22.79. The stock touched a low price of $22.27.Recently in News on March 3, 2023, Cleveland-Cliffs Applauds Unanimous U.S. International Trade Commission Affirmative Preliminary Vote in Tin Mill Products Trade Case. Cleveland-Cliffs Inc. (NYSE: CLF) today applauded the U.S. International Trade Commission’s unanimous affirmative preliminary determination on all countries in response to antidumping and countervailing duty petitions on tin and chromium coated sheet steel products (“tin mill products”) filed by Cleveland-Cliffs and the United Steelworkers (“USW”). This affirmative preliminary determination relates to petitions seeking antidumping duties on U.S. imports of tin mill products from Canada, China, Germany, the Netherlands, South Korea, Taiwan, Turkey, and the United Kingdom. The petitions also seek the imposition of countervailing duties on U.S. imports of tin mill products from China. You can read further details here

Cleveland-Cliffs Inc. had a pretty Dodgy run when it comes to the market performance. The 1-year high price for the company’s stock is recorded $34.04 on 04/05/22, with the lowest value was $11.82 for the same time period, recorded on 11/03/22.

Cleveland-Cliffs Inc. (CLF) full year performance was -12.61%

Price records that include history of low and high prices in the period of 52 weeks can tell a lot about the stock’s existing status and the future performance. Presently, Cleveland-Cliffs Inc. shares are logging -34.77% during the 52-week period from high price, and 87.78% higher than the lowest price point for the same timeframe. The stock’s price range for the 52-week period managed to maintain the performance between $11.82 and $34.04.

The company’s shares, operating in the sector of Basic Materials managed to top a trading volume set approximately around 3013279 for the day, which was evidently lower, when compared to the average daily volumes of the shares.

When it comes to the year-to-date metrics, the Cleveland-Cliffs Inc. (CLF) recorded performance in the market was 37.83%, having the revenues showcasing 40.01% on a quarterly basis in comparison with the same period year before. At the time of this writing, the total market value of the company is set at 11.44B, as it employees total of 27000 workers.

Market experts do have their say about Cleveland-Cliffs Inc. (CLF)

According to the data provided on Barchart.com, the moving average of the company in the 100-day period was set at 17.34, with a change in the price was noted +6.68. In a similar fashion, Cleveland-Cliffs Inc. posted a movement of +42.88% for the period of last 100 days, recording 12,143,338 in trading volumes.

Total Debt to Equity Ratio (D/E) can also provide valuable insight into the company’s financial health and market status. The debt to equity ratio can be calculated by dividing the present total liabilities of a company by shareholders’ equity. Debt to Equity thus makes a valuable metrics that describes the debt, company is using in order to support assets, correlating with the value of shareholders’ equity The total Debt to Equity ratio for CLF is recording 0.57 at the time of this writing. In addition, long term Debt to Equity ratio is set at 0.56.

Technical breakdown of Cleveland-Cliffs Inc. (CLF)

Raw Stochastic average of Cleveland-Cliffs Inc. in the period of last 50 days is set at 93.25%. The result represents improvement in oppose to Raw Stochastic average for the period of the last 20 days, recording 85.51%. In the last 20 days, the company’s Stochastic %K was 91.81% and its Stochastic %D was recorded 84.32%.

Bearing in mind the latest performance of Cleveland-Cliffs Inc., several moving trends are noted. Year-to-date Price performance of the company’s stock appears to be pessimistic, given the fact the metric is recording 37.83%. Additionally, trading for the stock in the period of the last six months notably improved by 33.68%, alongside a downfall of -12.61% for the period of the last 12 months. The shares increased approximately by 7.69% in the 7-day charts and went up by 2.66% in the period of the last 30 days. Common stock shares were driven by 40.01% during last recorded quarter.

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