GuruFocus - On August 1, 2024, John Baldwin, Director at Cleveland-Cliffs Inc (NYSE:CLF), purchased 8,000 shares of the company, as reported in a recent SEC Filing. This transaction increased the insider's holdings to 129,227 shares.
Cleveland-Cliffs Inc is a major player in the steel production and iron ore mining sectors in North America. The company's operations span across mining, pelletizing, and metallics, as well as steel manufacturing, which includes hot-rolled, cold-rolled, and coated sheet products.
Over the past year, John Baldwin has actively increased his stake in the company, purchasing a total of 15,500 shares. There have been no sales recorded by the insider during this period. The broader insider transaction trend for Cleveland-Cliffs Inc shows a balance of buying and selling activities, with 9 insider buys and 6 insider sells over the past year.
Shares of Cleveland-Cliffs Inc were priced at $14.53 on the day of the insider's recent purchase. The company's market cap stands at approximately $6.85 billion. The price-earnings ratio is notably high at 197.84, significantly above both the industry median and the company's historical median.
According to the GF Value, the intrinsic value of Cleveland-Cliffs Inc is estimated at $17.94 per share, suggesting that the stock is Modestly Undervalued with a price-to-GF-Value ratio of 0.81.
This insider buying activity could be a signal to investors about the perceived value of the stock at current prices, especially in the context of the company's valuation metrics and market performance.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This content was originally published on Gurufocus.com
