108,643 Shares in Cleveland-Cliffs Inc. $CLF Bought by Pinnacle Holdings LLC

Pinnacle Holdings LLC acquired a new stake in Cleveland-Cliffs Inc. (NYSE:CLF) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 108,643 shares of the mining company’s stock, valued at approximately $1,020,000.

A number of other large investors also recently bought and sold shares of the company. Sei Investments Co. increased its stake in shares of 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 during the period. Quantinno Capital Management LP lifted its position in Cleveland-Cliffs by 68.0% in 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 stake in Cleveland-Cliffs in the second quarter valued at about $8,562,000. Vanguard Group Inc. boosted its holdings in Cleveland-Cliffs by 13.4% in the 4th quarter. Vanguard Group Inc. now owns 54,391,397 shares of the mining company’s stock valued at $722,318,000 after purchasing an additional 6,447,462 shares in the last quarter. Finally, California State Teachers Retirement System boosted its holdings in Cleveland-Cliffs by 23.0% in the 1st quarter. California State Teachers Retirement System now owns 662,180 shares of the mining company’s stock valued at $5,595,000 after purchasing an additional 123,660 shares in the last quarter. Hedge funds and other institutional investors own 67.68% of the company’s stock.

Cleveland-Cliffs Stock Performance

CLF opened at $11.29 on Monday. The stock has a market cap of $6.44 billion, a P/E ratio of -6.97 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 stock’s 50 day simple moving average is $11.02 and its 200 day simple moving average is $10.75. Cleveland-Cliffs Inc. has a 1-year low of $7.73 and a 1-year high of $16.70.

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. The firm had revenue of $5.23 billion during the quarter, compared to analysts’ expectations of $5.15 billion. Cleveland-Cliffs had a negative return on equity of 13.37% and a negative net margin of 4.56%.Cleveland-Cliffs’s revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.50) earnings per share. As a group, equities analysts anticipate that Cleveland-Cliffs Inc. will post -0.11 EPS for the current fiscal year.

Cleveland-Cliffs News Roundup

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

• Positive Sentiment: Federal funding reduces the cost of the upgrade. The U.S. Department of Energy established a framework to rescope its previously awarded $500 million grant, supporting a $1 billion Middletown Works investment. Cleveland-Cliffs and the DOE are expected to fund the project equally, improving the economics of the plant modernization. Cleveland-Cliffs Announces $1 Billion Middletown Works Investment
• Positive Sentiment: The investment could strengthen Cleveland-Cliffs’ U.S. steel competitiveness. The project is intended to advance the company’s steel modernization strategy, potentially improving the efficiency and long-term viability of a key Ohio facility while supporting domestic steel production. Cleveland-Cliffs Advances Steel Modernization Strategy
• Positive Sentiment: Political support added to the catalyst. Coverage highlighted backing from Vice President JD Vance, reinforcing expectations that the project aligns with U.S. industrial-policy and domestic manufacturing priorities. Cleveland-Cliffs Stock Gets a JD Vance Boost
• Neutral Sentiment: Execution remains a consideration. The DOE framework still requires Cleveland-Cliffs to finalize negotiations and implementation plans, so the timing, final terms and ultimate financial benefits are not yet certain. Cleveland-Cliffs to Match $500 Million DOE Grant
• Negative Sentiment: Investors remain aware of CLF’s volatility and financial pressure. The stock recently experienced a sharp decline, while Cleveland-Cliffs continues to report negative profitability metrics and carries substantial leverage. These factors could limit the durability of the positive reaction if steel-market conditions weaken.

Insider Buying and Selling at Cleveland-Cliffs

In other news, EVP Celso L. Goncalves, Jr. sold 214,308 shares of the firm’s stock in a transaction on 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.95% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CLF. JPMorgan Chase & Co. cut their target price on Cleveland-Cliffs from $13.00 to $10.00 and set a “neutral” rating for the company in a research note on Wednesday, July 15th. Morgan Stanley restated an “equal weight” rating and issued a $12.50 price target (up from $12.00) on shares of Cleveland-Cliffs in a research note on Monday, June 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cleveland-Cliffs in a report on Tuesday, July 21st. Bank of America cut their price objective on Cleveland-Cliffs from $14.00 to $11.50 and set a “neutral” rating for the company in a research report on Thursday, July 9th. Finally, Glj Research raised Cleveland-Cliffs from a “hold” rating to a “buy” rating and raised their target price for the company from $15.01 to $15.60 in a report on Friday, July 24th. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $11.86.

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.