The COB, Pres & CEO of Cleveland-Cliffs Inc (NYSE: CLF) is Buying Shares

By Carrie Williams

Today, the COB, Pres & CEO of Cleveland-Cliffs Inc (CLFResearch Report), Lourenco Goncalves, bought shares of CLF for $93.5K.

Following Lourenco Goncalves’ last CLF Buy transaction on September 18, 2017, the stock climbed by 2.3%. In addition to Lourenco Goncalves, 3 other CLF executives reported Buy trades in the last month.

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CLF’s market cap is $2.71B and the company has a P/E ratio of 2.48. Currently, Cleveland-Cliffs Inc has an average volume of 5.26M. The Company has a Price to Book ratio of 10.3538.

Based on 3 analyst ratings, the analyst consensus is Strong Buy with an average price target of $14.42, reflecting a 49.9% upside. Starting in April 2019, CLF received 4 Buy ratings in a row. Three different firms, including B.Riley FBR and Credit Suisse, currently also have a Buy rating on the stock.

The insider sentiment on Cleveland-Cliffs Inc has been positive according to 53 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.

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Cleveland-Cliffs, Inc. is an iron ore mining company. It supplies iron ore pellets to the North American steel industry from mines and pellet plants located in Michigan and Minnesota. It operates through the following segments: Mining & Pelletizing and Metallics.