Eric M. Rychel Buys 5,000 Shares of Cleveland-Cliffs Inc (CLF) Stock
Cleveland-Cliffs Inc (NYSE:CLF) Director Eric M. Rychel acquired 5,000 shares of the company’s stock in a transaction on Monday, May 13th. The shares were purchased at an average cost of $9.70 per share, with a total value of $48,500.00. Following the completion of the acquisition, the director now directly owns 24,845 shares in the company, valued at approximately $240,996.50. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Shares of Cleveland-Cliffs stock traded up $0.03 during trading on Thursday, hitting $10.00. 1,591,896 shares of the company were exchanged, compared to its average volume of 10,809,198. The firm has a market capitalization of $2.78 billion, a P/E ratio of 4.69 and a beta of 1.78. Cleveland-Cliffs Inc has a 1-year low of $7.40 and a 1-year high of $13.10. The company has a current ratio of 2.86, a quick ratio of 1.82 and a debt-to-equity ratio of 7.97.
Cleveland-Cliffs (NYSE:CLF) last posted its earnings results on Thursday, April 25th. The mining company reported ($0.08) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.06. The company had revenue of $157.00 million during the quarter, compared to analyst estimates of $116.91 million. Cleveland-Cliffs had a return on equity of 786.91% and a net margin of 51.54%. The company’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.08) EPS. Research analysts anticipate that Cleveland-Cliffs Inc will post 1.68 EPS for the current fiscal year.
CLF has been the subject of several recent research reports. TheStreet raised Cleveland-Cliffs from a “c+” rating to a “b” rating in a report on Wednesday, February 20th. Jefferies Financial Group boosted their price objective on Cleveland-Cliffs from $11.50 to $13.75 and gave the stock a “buy” rating in a report on Friday, February 8th. Citigroup boosted their price objective on Cleveland-Cliffs to $13.00 and gave the stock a “buy” rating in a report on Friday, February 8th. Zacks Investment Research raised Cleveland-Cliffs from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Monday, April 1st. Finally, B. Riley boosted their price objective on Cleveland-Cliffs from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. Cleveland-Cliffs has a consensus rating of “Buy” and an average price target of $12.50.
Cleveland-Cliffs Company Profile
Cleveland-Cliffs Inc operates as an iron ore mining company in the United States. The company operates four iron ore mines in Michigan and Minnesota. It sells its products to integrated steel companies and steel producers in the United States and the Asia Pacific. The company was formerly known as Cliffs Natural Resources Inc and changed its name to Cleveland-Cliffs Inc in August 2017.
Further Reading: Gross Domestic Product (GDP)
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