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John T. Baldwin, a director at Cleveland-Cliffs Inc. (NYSE:CLF), has recently acquired 4,000 common shares of the company, according to a filing with the Securities and Exchange Commission. The shares were purchased at a price of $8.70 each, totaling $34,800. According to InvestingPro data, this purchase comes as the stock trades near its 52-week low, with analysis suggesting the shares are currently undervalued. Following this transaction, Baldwin’s direct ownership stake in the company stands at 133,227 shares. Cleveland-Cliffs, based in Cleveland, Ohio, is a major player in the metal mining industry with a market capitalization of $4.3 billion. InvestingPro analysis reveals the company maintains strong liquidity with a current ratio of 2.08, though investors should note its beta of 1.93 indicates higher volatility than the broader market. Get the complete financial picture with InvestingPro’s comprehensive research report, available along with 7 additional key insights for CLF.
In other recent news, Cleveland-Cliffs Inc. reported its fourth-quarter 2024 earnings, revealing a larger-than-expected loss. The company’s earnings per share (EPS) came in at -$0.68, missing the forecasted -$0.46, while revenue also fell short, reaching $4.3 billion against an expected $4.54 billion. Cleveland-Cliffs faced a challenging quarter with an adjusted EBITDA of -$81 million and shipments totaling 3.8 million tons. Despite these results, the company remains optimistic about 2025, anticipating improvements driven by higher automotive volumes and potential price increases. Cleveland-Cliffs is focusing on debt reduction and expects its working capital to generate cash in upcoming quarters. The company has also recently acquired Stelco (TSX:STLC) and expects to achieve $120 million in synergies by the end of 2025. Analysts from firms like Seaport Research Partners and B. Riley engaged with the company regarding its strategic plans and financial outlook, reflecting investor interest in Cleveland-Cliffs’ future trajectory.
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