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In a recent transaction, Keith Koci, the Executive Vice President and President of CC Services at Cleveland-Cliffs Inc. (NYSE:CLF), acquired 9,500 common shares of the company. The purchase, made on February 28, 2025, was executed at a price of $10.815 per share, amounting to a total investment of $102,742. According to InvestingPro data, this insider purchase comes as the stock trades near $10.90, showing a 14% gain year-to-date despite significant price volatility. Following this transaction, Koci’s total ownership in the company stands at 543,475 shares. This move reflects an increase in Koci’s direct holdings in the company, signaling confidence in Cleveland-Cliffs’ future prospects. InvestingPro analysis indicates the company currently trades below its Fair Value, with management actively buying back shares despite operating with a significant debt burden. For deeper insights into CLF’s valuation and 8 additional ProTips, explore the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Cleveland-Cliffs Inc. reported its fourth-quarter 2024 earnings, revealing a significant loss. The company announced an earnings per share (EPS) of -$0.68, which fell short of the anticipated -$0.46. Additionally, the revenue was reported at $4.3 billion, missing the expected $4.54 billion. The company faced a challenging period, with adjusted EBITDA at -$81 million and total shipments of 3.8 million tons. Despite these setbacks, Cleveland-Cliffs is optimistic about 2025, expecting improvements in unit steel costs and stronger performance in the automotive sector.
Cleveland-Cliffs is focusing on debt reduction and strategic expansions, with a commitment to domestic manufacturing and integrated steel assets. The company also highlighted its recent acquisition of Stelco (TSX:STLC), which is expected to contribute to its strategic goals. Analysts have noted that Cleveland-Cliffs is positioned for a potentially improved 2025, driven by higher automotive volumes and potential price increases. The company remains committed to reducing debt and has no plans for equity issuance.
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