California Public Employees Retirement System Acquires 185,964 Shares of Cleveland-Cliffs Inc. $CLF

California Public Employees Retirement System grew its stake in Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 23.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 976,151 shares of the mining company's stock after purchasing an additional 185,964 shares during the quarter. California Public Employees Retirement System owned about 0.17% of Cleveland-Cliffs worth $8,248,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Los Angeles Capital Management LLC acquired a new position in Cleveland-Cliffs in the fourth quarter valued at about $25,000. IFP Advisors Inc boosted its holdings in Cleveland-Cliffs by 117.5% during the fourth quarter. IFP Advisors Inc now owns 2,221 shares of the mining company's stock worth $29,000 after buying an additional 1,200 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in shares of Cleveland-Cliffs by 306.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,461 shares of the mining company's stock worth $33,000 after buying an additional 1,855 shares during the period. Caitong International Asset Management Co. Ltd grew its position in shares of 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 buying an additional 1,214 shares during the period. Finally, Larson Financial Group LLC increased its stake in shares of Cleveland-Cliffs by 819.2% in the 3rd 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 last quarter. 67.68% of the stock is currently owned by institutional investors.

Cleveland-Cliffs Stock Performance

CLF opened at $11.94 on Friday. The business's 50-day moving average price is $11.29 and its two-hundred day moving average price is $11.03. Cleveland-Cliffs Inc. has a 1 year low of $7.73 and a 1 year high of $16.70. The company has a market capitalization of $6.81 billion, a price-to-earnings ratio of -7.37 and a beta of 2.13. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.89 and a quick ratio of 0.64.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The mining company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.01. The company 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 for the quarter was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.50) earnings per share. Equities analysts expect that Cleveland-Cliffs Inc. will post -0.15 EPS for the current fiscal year.

Insider Transactions at Cleveland-Cliffs

In other Cleveland-Cliffs news, EVP Celso L. Goncalves, Jr. sold 214,308 shares of the business's stock in a transaction that occurred 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 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.95% of the company's stock.

Wall Street Analyst Weigh In

CLF has been the topic of a number of analyst reports. Glj Research upgraded shares of Cleveland-Cliffs from a "hold" rating to a "buy" rating and increased their price target for the company from $15.01 to $15.60 in a research report on Friday. Morgan Stanley restated an "equal weight" rating and set a $12.50 price objective (up from $12.00) on shares of Cleveland-Cliffs in a report on Monday, June 22nd. Barclays upped 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. Argus upgraded shares of Cleveland-Cliffs to a "hold" rating in a report on Monday, April 6th. Finally, Wells Fargo & Company reiterated a "positive" rating on shares of Cleveland-Cliffs in a report on Friday. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $11.86.

Cleveland-Cliffs News Summary

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

• Positive Sentiment: Cleveland-Cliffs posted Q2 results that beat expectations on both earnings and revenue, helped by stronger steel pricing that improved margins even as shipment volumes declined. CLF Q2 Earnings and Sales Beat Estimates on Higher Steel Pricing
• Positive Sentiment: The company reported a sharp jump in adjusted EBITDA, returned to positive free cash flow, and gave a notably optimistic outlook, with investors focusing on the prospect of stronger profitability ahead. Cleveland-Cliffs Inc (CLF) Q2 2026 Earnings Call Highlights: Strong EBITDA Growth and Positive ...
• Positive Sentiment: Several analysts turned more constructive, including Glj Research upgrading the stock to buy and lifting its price target, which added to the bullish sentiment around the name. Cleveland-Cliffs upgraded by Glj Research
• Positive Sentiment: Trading activity was also supportive, with reports of unusual call-option buying and multiple articles highlighting CLF as a momentum stock with value appeal.
• Neutral Sentiment: Wells Fargo raised its price target but kept an “equal weight” rating, suggesting some upside remains but not a full endorsement of the rally. Wells Fargo price target raised on CLF
• Neutral Sentiment: The company also announced a leadership change, promoting CFO Celso Goncalves to President and CFO, which is more of a governance update than a direct earnings driver. Cleveland-Cliffs Announces Promotion of Chief Financial Officer
• Negative Sentiment: Not all analyst commentary was supportive: one report said brokerage consensus remains “Reduce,” and another noted Wells Fargo’s new target is still below the current share price, reflecting lingering skepticism about the stock’s valuation and durability of the rebound.

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.

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