167,854 Shares in Cleveland-Cliffs Inc. $CLF Acquired by Quantbot Technologies LP

Quantbot Technologies LP bought a new position in Cleveland-Cliffs Inc. (NYSE:CLF) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 167,854 shares of the mining company’s stock, valued at approximately $1,576,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Sei Investments Co. boosted its stake in Cleveland-Cliffs by 95.4% during the first quarter. Sei Investments Co. now owns 302,972 shares of the mining company’s stock worth $2,560,000 after acquiring an additional 147,899 shares in the last quarter. Quantinno Capital Management LP raised its holdings in shares of Cleveland-Cliffs by 68.0% during the first quarter. Quantinno Capital Management LP now owns 212,522 shares of the mining company’s stock valued at $1,796,000 after purchasing an additional 86,036 shares during the period. SFE Investment Counsel acquired a new position in shares of Cleveland-Cliffs during the second quarter valued at about $8,562,000. Vanguard Group Inc. boosted its position in shares of Cleveland-Cliffs by 13.4% during the 4th quarter. Vanguard Group Inc. now owns 54,391,397 shares of the mining company’s stock worth $722,318,000 after purchasing an additional 6,447,462 shares in the last quarter. Finally, California State Teachers Retirement System boosted its position in shares of Cleveland-Cliffs by 23.0% during the 1st quarter. California State Teachers Retirement System now owns 662,180 shares of the mining company’s stock worth $5,595,000 after purchasing an additional 123,660 shares in the last quarter. 67.68% of the stock is owned by institutional investors and hedge funds.

Cleveland-Cliffs Price Performance

Shares of NYSE:CLF opened at $11.31 on Tuesday. The company has a market capitalization of $6.45 billion, a P/E ratio of -6.98 and a beta of 2.09. The company’s 50-day moving average is $10.97 and its 200 day moving average is $10.73. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.63 and a current ratio of 1.89. Cleveland-Cliffs Inc. has a fifty-two week low of $7.73 and a fifty-two week high of $16.70.

Cleveland-Cliffs (NYSE:CLF) last posted its quarterly earnings data on Thursday, July 23rd. The mining company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.01. The business had revenue of $5.23 billion during the quarter, compared to the consensus estimate of $5.15 billion. Cleveland-Cliffs had a negative net margin of 4.56% and a negative return on equity of 13.37%. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.50) earnings per share. On average, equities research analysts forecast that Cleveland-Cliffs Inc. will post -0.11 earnings per share for the current year.

Key Headlines Impacting Cleveland-Cliffs

Here are the key news stories impacting Cleveland-Cliffs this week:

• Positive Sentiment: $1 billion Middletown Works investment: Cleveland-Cliffs announced plans to modernize its Middletown, Ohio, steel facility. The project is expected to improve operating efficiency and help protect approximately 2,300 jobs. Cliffs announces blast furnace investment
• Positive Sentiment: Federal support reduces project funding risk: The upgrade is backed by $500 million from the U.S. Department of Energy. The investment is aimed at modernizing the blast furnace, improving efficiency, and addressing emissions concerns, potentially strengthening CLF’s long-term competitiveness. CLF Receives $500 Million DOE Support for Middletown Works Upgrade
• Positive Sentiment: Trade tensions support domestic steelmakers: The breakdown in U.S.-Canada trade talks and renewed focus on steel tariffs encouraged investors to favor U.S. producers, including Cleveland-Cliffs. Higher trade barriers could reduce import competition, although the longer-term impact depends on possible retaliation and changes in policy. Nucor, Steel Dynamics, Cleveland-Cliffs stocks rise as US-Canada trade talks fail
• Neutral Sentiment: Wells Fargo raised its price target to $12 from $11 while maintaining an “equal weight” rating. The increase signals modestly improved valuation potential but does not represent a bullish recommendation. Wells Fargo raises Cleveland-Cliffs price target

Insider Activity

In other news, EVP Celso L. Goncalves, Jr. sold 214,308 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $13.41, for a total transaction of $2,873,870.28. Following the completion of the sale, the executive vice president owned 184,542 shares in the company, valued at $2,474,708.22. This trade represents a 53.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.95% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently commented on the company. Barclays boosted their target price on Cleveland-Cliffs from $9.00 to $10.00 and gave the company an “underweight” rating in a research report on Friday, July 24th. The Goldman Sachs Group reissued a “neutral” rating and set a $10.00 price objective on shares of Cleveland-Cliffs in a report on Friday, May 1st. Bank of America dropped their target price on Cleveland-Cliffs from $14.00 to $11.50 and set a “neutral” rating on the stock in a report on Thursday, July 9th. JPMorgan Chase & Co. cut their target price on Cleveland-Cliffs from $13.00 to $10.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 15th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Cleveland-Cliffs in a report on Tuesday, July 21st. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $11.96.

Cleveland-Cliffs Profile

Cleveland-Cliffs Inc is a leading North American producer of iron ore pellets and flat-rolled steel products. Tracing its roots to 1847, the company has evolved from an iron-ore mining concern in the Great Lakes region into a fully integrated steelmaker. Today, Cleveland-Cliffs operates iron ore mining complexes in Michigan and Minnesota as well as steelmaking and finishing facilities across the United States.

The company’s integrated platform begins with direct control of key raw materials, including iron ore and scrap, and extends through every stage of steel production.