Fifth Third Bancorp Purchases 138,311 Shares of Cleveland-Cliffs Inc. $CLF

Fifth Third Bancorp raised its holdings in Cleveland-Cliffs Inc. (NYSE:CLF) by 2,165.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 144,697 shares of the mining company’s stock after buying an additional 138,311 shares during the period. Fifth Third Bancorp’s holdings in Cleveland-Cliffs were worth $1,223,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CLF. Los Angeles Capital Management LLC bought a new stake in shares of Cleveland-Cliffs in the fourth quarter valued at approximately $25,000. IFP Advisors Inc grew its holdings in shares of Cleveland-Cliffs by 117.5% during the 4th quarter. IFP Advisors Inc now owns 2,221 shares of the mining company’s stock worth $29,000 after purchasing an additional 1,200 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings 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 purchasing an additional 1,214 shares in the last quarter. CIBC Private Wealth Group LLC increased its position in shares of Cleveland-Cliffs by 306.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,461 shares of the mining company’s stock worth $33,000 after purchasing an additional 1,855 shares during the period. Finally, Larson Financial Group LLC increased its position in shares of Cleveland-Cliffs by 819.2% in the third quarter. Larson Financial Group LLC now owns 2,684 shares of the mining company’s stock worth $33,000 after purchasing an additional 2,392 shares during the period. 67.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CLF. Barclays increased their target price on shares of Cleveland-Cliffs from $9.00 to $10.00 and gave the stock an “underweight” rating in a report on Friday. Glj Research raised shares of Cleveland-Cliffs from a “hold” rating to a “buy” rating and lifted their price target for the company from $15.01 to $15.60 in a report on Friday. Argus upgraded shares of Cleveland-Cliffs to a “hold” rating in a research report on Monday, April 6th. Bank of America dropped their price objective on shares of Cleveland-Cliffs from $14.00 to $11.50 and set a “neutral” rating for the company in a research note on Thursday, July 9th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $10.00 target price on shares of Cleveland-Cliffs in a research report on Friday, May 1st. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $11.86.

Cleveland-Cliffs Trading Up 8.9%

Shares of Cleveland-Cliffs stock opened at $11.94 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.64 and a current ratio of 1.89. The stock has a 50 day moving average price of $11.29 and a two-hundred day moving average price of $11.03. Cleveland-Cliffs Inc. has a 52 week low of $7.73 and a 52 week high of $16.70. The stock has a market capitalization of $6.81 billion, a PE ratio of -7.37 and a beta of 2.13.

Cleveland-Cliffs (NYSE:CLF) last announced its earnings results on Thursday, July 23rd. The mining company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.01. The company had revenue of $5.23 billion during the quarter, compared to the consensus estimate of $5.15 billion. Cleveland-Cliffs had a negative net margin of 4.56% and a negative return on equity of 13.37%. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.50) earnings per share. As a group, equities analysts anticipate that Cleveland-Cliffs Inc. will post -0.15 earnings per share for the current fiscal year.

Trending Headlines about Cleveland-Cliffs

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.

Insider Transactions at Cleveland-Cliffs

In related news, EVP Celso L. Goncalves, Jr. sold 214,308 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president owned 184,542 shares in the company, valued at approximately $2,474,708.22. This represents a 53.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.95% of the stock is owned by company insiders.

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.