GuruFocus - Goncalves Celso L Jr, Executive Vice President and Chief Financial Officer of Cleveland-Cliffs Inc (NYSE:CLF), purchased 7,250 shares of the company on June 12, 2024. The transaction was documented in a recent SEC Filing. Following this acquisition, the insider now owns a total of 314,361.613 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.
On the date of the purchase, shares of Cleveland-Cliffs Inc were priced at $14.99 each. This pricing positions the company with a market cap of approximately $7.12 billion. The price-earnings ratio of the company stands at 20.24, which is above both the industry median of 14.68 and the historical median for the company.
According to the GF Value, the intrinsic value of Cleveland-Cliffs Inc is estimated at $19.46 per share, making the stock modestly undervalued with a price-to-GF-Value ratio of 0.77.
The insider transaction history at Cleveland-Cliffs Inc over the past year includes 5 insider buys and 5 insider sells. The recent purchase by the insider aligns with a broader pattern of insider transactions within the company.
The GF Value is calculated considering historical trading multiples such as the price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, along with a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.
This insider buy could signal a positive outlook from the insider regarding the future performance of Cleveland-Cliffs Inc, considering the current stock valuation and the company's market position.
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
