Kinetic Partners Management LP Purchases New Shares in Cleveland-Cliffs Inc. $CLF

Kinetic Partners Management LP bought a new position in shares of Cleveland-Cliffs Inc. (NYSE:CLF) in the second quarter, Holdings Channel reports. The institutional investor bought 6,018,200 shares of the mining company’s stock, valued at approximately $56,511,000. Cleveland-Cliffs accounts for approximately 1.3% of Kinetic Partners Management LP’s holdings, making the stock its 20th largest position.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Los Angeles Capital Management LLC purchased a new stake in shares of Cleveland-Cliffs in the fourth quarter valued at approximately $25,000. IFP Advisors Inc raised its stake in shares of Cleveland-Cliffs by 117.5% in the 4th quarter. IFP Advisors Inc now owns 2,221 shares of the mining company’s stock valued at $29,000 after acquiring an additional 1,200 shares during the period. CIBC Private Wealth Group LLC raised its position in Cleveland-Cliffs by 306.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,461 shares of the mining company’s stock valued at $33,000 after purchasing an additional 1,855 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in Cleveland-Cliffs by 94.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,505 shares of the mining company’s stock worth $33,000 after acquiring an additional 1,214 shares in the last quarter. Finally, Larson Financial Group LLC lifted its position in shares of Cleveland-Cliffs by 819.2% during the third quarter. Larson Financial Group LLC now owns 2,684 shares of the mining company’s stock worth $33,000 after purchasing an additional 2,392 shares in the last quarter. Hedge funds and other institutional investors own 67.68% of the company’s stock.

Cleveland-Cliffs Price Performance

Shares of CLF opened at $11.53 on Wednesday. Cleveland-Cliffs Inc. has a 1-year low of $7.73 and a 1-year high of $16.70. The stock has a market cap of $6.58 billion, a PE ratio of -7.12 and a beta of 2.09. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.89 and a quick ratio of 0.63. The firm has a fifty day moving average price of $10.93 and a 200 day moving average price of $10.71.

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

Wall Street Analysts Forecast Growth

CLF has been the topic of several recent research reports. Barclays upped their price target on Cleveland-Cliffs from $9.00 to $10.00 and gave the stock an “underweight” rating in a report on Friday, July 24th. Wells Fargo & Company upped their price objective on Cleveland-Cliffs from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Monday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cleveland-Cliffs in a report on Tuesday, July 21st. Glj Research raised Cleveland-Cliffs from a “hold” rating to a “buy” rating and raised their target price for the stock from $15.01 to $15.60 in a research report on Friday, July 24th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $10.00 target price on shares of Cleveland-Cliffs in a research note on Friday, May 1st. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Cleveland-Cliffs presently has a consensus rating of “Hold” and an average price target of $11.96.

Cleveland-Cliffs News Roundup

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

• Positive Sentiment: Trade tensions support domestic steelmakers: The breakdown in U.S.-Canada trade discussions put steel tariffs back in focus, encouraging investors to favor U.S. producers such as Cleveland-Cliffs. Higher barriers to imported steel could improve domestic pricing and demand, although the policy outlook remains volatile. U.S.-Canada trade talks article
• Positive Sentiment: $1 billion Middletown Works upgrade: Cleveland-Cliffs plans to modernize its Ohio facility, with approximately $500 million, or half the project cost, supported by the U.S. Department of Energy. The investment is expected to improve efficiency and help protect about 2,300 jobs. Its auto-sector exposure could also benefit as automakers increasingly seek domestic steel supplies. DOE support article
• Neutral Sentiment: Wells Fargo raised its price target: The firm increased its target from $11 to $12 while maintaining an “equal weight” rating, signaling modest potential upside but no strong change in its investment view. Benzinga analyst action
• Neutral Sentiment: Capital returns have not solved the valuation problem: A recent review highlighted roughly $2.5 billion in cumulative payouts to shareholders, but CLF’s stock has remained a laggard. This underscores that dividends and buybacks have provided limited support while steel-market performance and balance-sheet concerns remain central. Trefis payout analysis
• Negative Sentiment: Financial risks remain: Cleveland-Cliffs remains unprofitable, more leveraged than some domestic peers and dependent on a cyclical automotive market. Benefits from the Middletown project may take years to materialize, leaving near-term results sensitive to steel prices, demand and execution.

Insider Activity

In related news, EVP Celso L. Goncalves, Jr. sold 214,308 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $13.41, for a total value of $2,873,870.28. Following the completion of the sale, the executive vice president directly owned 184,542 shares of the company’s stock, valued at $2,474,708.22. This represents a 53.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.95% of the stock is currently owned by company insiders.

About Cleveland-Cliffs

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.