GuruFocus - On June 13, 2024, MICHAEL RALPH S III, Director at Cleveland-Cliffs Inc (NYSE:CLF), purchased 20,000 shares of the company, as reported in a recent SEC Filing. Following this transaction, the insider now owns 199,519 shares of Cleveland-Cliffs Inc.
Cleveland-Cliffs Inc is a prominent player in the steel production and mining industry in North America. The company is the largest flat-rolled steel producer in the region, also producing iron ore pellets and other related raw materials utilized in the steelmaking process.
The transaction occurred at a stock price of $14.74, valuing the purchase at approximately $294,800. This acquisition has contributed to a total of 8 insider buys over the past year for Cleveland-Cliffs Inc, compared to 5 insider sells during the same period.
The current market cap of Cleveland-Cliffs Inc stands at approximately $7.04 billion. The stock's price-earnings ratio is 20.00, which is above both the industry median of 14.62 and the companys historical median.
According to GF Value, the intrinsic value of Cleveland-Cliffs Inc is estimated at $19.42 per share, making the stock modestly undervalued with a price-to-GF-Value ratio of 0.76.
The insider buying trend at Cleveland-Cliffs Inc suggests a positive outlook by the insiders, potentially indicating their confidence in the company's future performance.
This recent purchase by Director MICHAEL RALPH S III aligns with the overall insider buying trend, providing a noteworthy insight into the company's internal perspectives on its valuation and future prospects.
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.
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