Robinhood Asset Management LLC Makes New Investment in Cleveland-Cliffs Inc. $CLF

Robinhood Asset Management LLC bought a new position in shares of Cleveland-Cliffs Inc. (NYSE:CLF) during the second quarter, Holdings Channel.com reports. The firm bought 1,150,678 shares of the mining company’s stock, valued at approximately $10,805,000.

Several other hedge funds have also modified their holdings of CLF. Los Angeles Capital Management LLC bought a new position in Cleveland-Cliffs in the 4th quarter worth approximately $25,000. IFP Advisors Inc increased 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 buying an additional 1,200 shares during the period. CIBC Private Wealth Group LLC raised its position in shares of Cleveland-Cliffs by 306.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,461 shares of the mining company’s stock worth $33,000 after acquiring an additional 1,855 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of Cleveland-Cliffs by 94.0% during the fourth 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 during the last quarter. Finally, Larson Financial Group LLC lifted its stake 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 valued at $33,000 after acquiring an additional 2,392 shares during the period. 67.68% of the stock is owned by institutional investors.

Insider Activity at Cleveland-Cliffs

In related news, EVP Celso L. Goncalves, Jr. sold 214,308 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $13.41, for a total value of $2,873,870.28. Following the sale, the executive vice president directly 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 legal filing with the SEC, which is available at this link. 0.95% of the stock is currently owned by company insiders.

Cleveland-Cliffs Trading Up 5.1%

NYSE CLF opened at $11.29 on Friday. The stock has a 50-day simple moving average of $11.02 and a 200 day simple moving average of $10.77. The company has a market capitalization of $6.44 billion, a PE ratio of -6.97 and a beta of 2.09. The company has a current ratio of 1.89, a quick ratio of 0.63 and a debt-to-equity ratio of 1.32. Cleveland-Cliffs Inc. has a 12 month low of $7.73 and a 12 month high of $16.70.

Cleveland-Cliffs (NYSE:CLF) last released its 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. Cleveland-Cliffs had a negative return on equity of 13.37% and a negative net margin of 4.56%.The firm had revenue of $5.23 billion for the quarter, compared to analyst estimates of $5.15 billion. During the same quarter in the prior year, the firm posted ($0.50) earnings per share. The company’s quarterly revenue was up 5.9% on a year-over-year basis. Research analysts forecast that Cleveland-Cliffs Inc. will post -0.11 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CLF shares. The Goldman Sachs Group reiterated a “neutral” rating and issued a $10.00 price target on shares of Cleveland-Cliffs in a report on Friday, May 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Cleveland-Cliffs in a report on Tuesday, July 21st. Glj Research upgraded shares of Cleveland-Cliffs from a “hold” rating to a “buy” rating and upped their target price for the company from $15.01 to $15.60 in a research report on Friday, July 24th. Barclays raised their target price on shares of Cleveland-Cliffs from $9.00 to $10.00 and gave the company an “underweight” rating in a research note on Friday, July 24th. Finally, Citigroup reissued a “positive” rating on shares of Cleveland-Cliffs in a research note on Friday, July 24th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Cleveland-Cliffs presently has an average rating of “Hold” and an average price target of $11.86.

Trending Headlines about Cleveland-Cliffs

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.

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.