Robinhood Asset Management LLC Invests $10.80 Million in Cleveland-Cliffs Inc. $CLF

Key Points

• Robinhood Asset Management initiated a $10.8 million Cleveland-Cliffs stake, purchasing 1.15 million shares, or approximately 0.20% of the company. Institutional investors collectively own 67.68% of CLF.
• Cleveland-Cliffs’ $1 billion Middletown Works modernization project is expected to receive a $500 million Department of Energy grant, with the company matching the funding. The project could improve the Ohio plant’s efficiency and strengthen U.S. steel competitiveness, though negotiations and execution remain outstanding.
• Analyst sentiment remains mixed, with CLF carrying a consensus “Hold” rating and an $11.86 price target. Despite quarterly revenue growth and a slightly better-than-expected loss, the company continues to face negative profitability, significant leverage and elevated stock volatility.

Robinhood Asset Management LLC bought a new stake in Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,150,678 shares of the mining company's stock, valued at approximately $10,805,000. Robinhood Asset Management LLC owned 0.20% of Cleveland-Cliffs as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CLF. Public Employees Retirement System of Ohio lifted its stake in Cleveland-Cliffs by 0.6% during the third quarter. Public Employees Retirement System of Ohio now owns 152,009 shares of the mining company's stock worth $1,855,000 after purchasing an additional 943 shares during the period. Moors & Cabot Inc. grew its stake in shares of Cleveland-Cliffs by 3.0% in the 3rd quarter. Moors & Cabot Inc. now owns 33,118 shares of the mining company's stock valued at $404,000 after purchasing an additional 960 shares during the period. Rexford Capital Inc. grew its stake in shares of Cleveland-Cliffs by 11.8% in the 4th quarter. Rexford Capital Inc. now owns 9,500 shares of the mining company's stock valued at $126,000 after purchasing an additional 1,000 shares during the period. IFP Advisors Inc raised its holdings 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 worth $29,000 after buying an additional 1,200 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its holdings in shares of Cleveland-Cliffs by 94.0% in 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 in the last quarter. Institutional investors and hedge funds own 67.68% of the company's stock.

Key Cleveland-Cliffs News

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.

Analyst Upgrades and Downgrades

CLF has been the topic of several recent analyst reports. JPMorgan Chase & Co. decreased their price target on Cleveland-Cliffs from $13.00 to $10.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 15th. Citigroup reiterated a "positive" rating on shares of Cleveland-Cliffs in a research note on Friday, July 24th. The Goldman Sachs Group reissued a "neutral" rating and set a $10.00 price objective on shares of Cleveland-Cliffs in a report on Friday, May 1st. Wells Fargo & Company restated a "positive" rating on shares of Cleveland-Cliffs in a research note on Friday, July 24th. Finally, Morgan Stanley reaffirmed an "equal weight" rating and issued a $12.50 target price (up from $12.00) on shares of Cleveland-Cliffs in a report on Monday, June 22nd. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Cleveland-Cliffs has an average rating of "Hold" and a consensus price target of $11.86.

Cleveland-Cliffs Stock Performance

NYSE:CLF opened at $11.29 on Friday. Cleveland-Cliffs Inc. has a 1 year low of $7.73 and a 1 year high of $16.70. The firm has a 50 day moving average of $11.02 and a 200-day moving average of $10.77. The company has a current ratio of 1.89, a quick ratio of 0.63 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $6.44 billion, a P/E ratio of -6.97 and a beta of 2.09.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last announced its earnings results on Thursday, July 23rd. The mining company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.01. The business had revenue of $5.23 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.50) EPS. As a group, sell-side analysts anticipate that Cleveland-Cliffs Inc. will post -0.11 EPS for the current fiscal year.

Insider Buying and Selling

In other Cleveland-Cliffs news, EVP Celso L. Goncalves, Jr. sold 214,308 shares of the business'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 transaction, the executive vice president owned 184,542 shares of the company's stock, valued at approximately $2,474,708.22. The trade was a 53.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.95% of the company's stock.

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.

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