Fifth Third Bancorp Increases Stake in Cleveland-Cliffs Inc. $CLF

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

Several other institutional investors have also added to or reduced their stakes in the company. Los Angeles Capital Management LLC bought a new stake in shares of Cleveland-Cliffs in the 4th quarter worth approximately $25,000. IFP Advisors Inc lifted its stake in Cleveland-Cliffs by 117.5% in the fourth quarter. IFP Advisors Inc now owns 2,221 shares of the mining company’s stock worth $29,000 after acquiring an additional 1,200 shares during the period. CIBC Private Wealth Group LLC lifted its stake in 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 acquiring an additional 1,855 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in Cleveland-Cliffs by 94.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,505 shares of the mining company’s stock valued at $33,000 after acquiring an additional 1,214 shares in the last quarter. Finally, Larson Financial Group LLC boosted its holdings in Cleveland-Cliffs by 819.2% in 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 in the last quarter. Hedge funds and other institutional investors own 67.68% of the company’s stock.

Cleveland-Cliffs Stock Performance

NYSE:CLF opened at $11.94 on Friday. The stock has a 50-day moving average price of $11.29 and a 200 day moving average price of $11.03. The stock has a market capitalization of $6.81 billion, a P/E ratio of -7.37 and a beta of 2.13. Cleveland-Cliffs Inc. has a 12-month low of $7.73 and a 12-month high of $16.70. The company has a current ratio of 1.89, a quick ratio of 0.64 and a debt-to-equity ratio of 1.32.

Cleveland-Cliffs (NYSE:CLF) last issued its earnings results 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 for 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%.The business’s revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.50) earnings per share. Equities research analysts forecast that Cleveland-Cliffs Inc. will post -0.15 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on CLF shares. Morgan Stanley reissued an “equal weight” rating and set a $12.50 price objective (up from $12.00) on shares of Cleveland-Cliffs in a research report on Monday, June 22nd. 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 research report on Friday. Weiss Ratings reissued a “sell (d-)” rating on shares of Cleveland-Cliffs in a research note on Tuesday. Barclays boosted their price objective on shares of Cleveland-Cliffs from $9.00 to $10.00 and gave the stock an “underweight” rating in a research note on Friday. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $10.00 price target on shares of Cleveland-Cliffs in a research report on Friday, May 1st. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $11.86.

Key Stories Impacting 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.

Insiders Place Their Bets

In other news, EVP Celso L. Goncalves, Jr. sold 214,308 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $13.41, for a total transaction 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. This represents a 53.73% decrease in their position. 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 insiders.

About Cleveland-Cliffs

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.