California Public Employees Retirement System Has $8.25 Million Position in Cleveland-Cliffs Inc. $CLF

California Public Employees Retirement System raised its holdings in Cleveland-Cliffs Inc. (NYSE:CLF) by 23.5% during the 1st quarter, Holdings Channel reports. The institutional investor owned 976,151 shares of the mining company’s stock after acquiring an additional 185,964 shares during the quarter. California Public Employees Retirement System’s holdings in Cleveland-Cliffs were worth $8,248,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CLF. Independent Financial Group LLC acquired a new position in shares of Cleveland-Cliffs during the 1st quarter worth about $183,000. Bank of New York Mellon Corp grew its holdings in shares of Cleveland-Cliffs by 2.9% in the 1st quarter. Bank of New York Mellon Corp now owns 3,350,049 shares of the mining company’s stock valued at $28,308,000 after acquiring an additional 94,268 shares in the last quarter. NFSG Corp increased its position in shares of Cleveland-Cliffs by 1,702.7% in the first quarter. NFSG Corp now owns 10,852 shares of the mining company’s stock valued at $92,000 after acquiring an additional 10,250 shares during the last quarter. Center for Financial Planning Inc. increased its position in shares of Cleveland-Cliffs by 119.0% in the first quarter. Center for Financial Planning Inc. now owns 3,322 shares of the mining company’s stock valued at $28,000 after acquiring an additional 1,805 shares during the last quarter. Finally, State of Michigan Retirement System increased its position in shares of Cleveland-Cliffs by 1.9% in the first quarter. State of Michigan Retirement System now owns 137,227 shares of the mining company’s stock valued at $1,160,000 after acquiring an additional 2,600 shares during the last quarter. 67.68% of the stock is owned by institutional investors.

Cleveland-Cliffs Stock Up 8.9%

Cleveland-Cliffs stock opened at $11.94 on Friday. The firm has a market capitalization of $6.81 billion, a PE ratio of -7.37 and a beta of 2.13. The company’s 50-day moving average is $11.29 and its 200-day moving average is $11.03. Cleveland-Cliffs Inc. has a fifty-two week low of $7.73 and a fifty-two week high of $16.70. 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) last issued its earnings results on Thursday, July 23rd. The mining company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.01. Cleveland-Cliffs had a negative net margin of 4.56% and a negative return on equity of 13.37%. The company had revenue of $5.23 billion for the quarter, compared to analysts’ expectations of $5.15 billion. During the same period in the prior year, the firm earned ($0.50) EPS. Cleveland-Cliffs’s quarterly revenue was up 5.9% compared to the same quarter last year. Sell-side analysts anticipate that Cleveland-Cliffs Inc. will post -0.15 earnings per share for the current year.

Insiders Place Their Bets

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 transaction of $2,873,870.28. Following the transaction, the executive vice president owned 184,542 shares of the company’s stock, valued at $2,474,708.22. The trade was a 53.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.95% of the stock is currently owned by company insiders.

Cleveland-Cliffs News Roundup

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.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Wells Fargo & Company reissued a “positive” rating on shares of Cleveland-Cliffs in a research report on Friday. Barclays raised their price target on Cleveland-Cliffs from $9.00 to $10.00 and gave the company an “underweight” rating in a research note on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cleveland-Cliffs in a research report on Tuesday. Bank of America dropped their price objective on Cleveland-Cliffs from $14.00 to $11.50 and set a “neutral” rating on the stock in a research note on Thursday, July 9th. Finally, Glj Research raised Cleveland-Cliffs from a “hold” rating to a “buy” rating and increased their price objective for the company from $15.01 to $15.60 in a report on Friday. Two equities research 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 stock has a consensus rating of “Hold” and an average target price of $11.86.

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.