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

Quantbot Technologies LP acquired a new stake in Cleveland-Cliffs Inc. (NYSE:CLF) during the second quarter, Holdings Channel reports. The firm acquired 167,854 shares of the mining company’s stock, valued at approximately $1,576,000.

Other institutional investors have also recently made changes to their positions in the company. Los Angeles Capital Management LLC purchased a new stake in Cleveland-Cliffs during the 4th quarter worth about $25,000. Center for Financial Planning Inc. increased its holdings in shares of Cleveland-Cliffs by 119.0% in the 1st quarter. Center for Financial Planning Inc. now owns 3,322 shares of the mining company’s stock worth $28,000 after buying an additional 1,805 shares during the last quarter. IFP Advisors Inc raised its position in Cleveland-Cliffs by 117.5% during the fourth quarter. IFP Advisors Inc now owns 2,221 shares of the mining company’s stock valued at $29,000 after purchasing an additional 1,200 shares in the last quarter. Johnson Financial Group Inc. bought a new stake in Cleveland-Cliffs in the 2nd quarter worth approximately $30,000. Finally, Caitong International Asset Management Co. Ltd lifted its stake in Cleveland-Cliffs by 94.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,505 shares of the mining company’s stock worth $33,000 after purchasing an additional 1,214 shares during the last quarter. Hedge funds and other institutional investors own 67.68% of the company’s stock.

Insider Buying and Selling

In other news, EVP Celso L. Goncalves, Jr. sold 214,308 shares of the business’s stock in a transaction 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 sale, the executive vice president owned 184,542 shares in the company, valued at approximately $2,474,708.22. The trade was a 53.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.95% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Citigroup restated a “positive” rating on shares of Cleveland-Cliffs in a report on Friday, July 24th. Morgan Stanley reissued an “equal weight” rating and set a $12.50 price target (up from $12.00) on shares of Cleveland-Cliffs in a research report on Monday, June 22nd. Wells Fargo & Company raised their price target on shares of Cleveland-Cliffs from $11.00 to $12.00 and gave the stock an “equal weight” rating in a report on Monday. Glj Research upgraded shares of Cleveland-Cliffs from a “hold” rating to a “buy” rating and boosted their price objective for the company from $15.01 to $15.60 in a research report on Friday, July 24th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cleveland-Cliffs in a research note on Tuesday, July 21st. Two 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, the stock has an average 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: $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

Cleveland-Cliffs Stock Up 0.3%

Shares of NYSE:CLF opened at $11.31 on Tuesday. The firm has a market capitalization of $6.45 billion, a P/E ratio of -6.98 and a beta of 2.09. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.63 and a current ratio of 1.89. The stock has a 50 day moving average price of $10.97 and a 200-day moving average price of $10.73. Cleveland-Cliffs Inc. has a 52-week low of $7.73 and a 52-week high of $16.70.

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

Cleveland-Cliffs Company 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.