Baird Financial Group Inc. lifted its stake in Cleveland-Cliffs Inc (NYSE:CLF) by 67.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,643 shares of the mining company’s stock after acquiring an additional 7,500 shares during the period. Baird Financial Group Inc.’s holdings in Cleveland-Cliffs were worth $157,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in CLF. Swiss National Bank grew its stake in shares of Cleveland-Cliffs by 3.5% in the first quarter. Swiss National Bank now owns 490,400 shares of the mining company’s stock worth $3,408,000 after acquiring an additional 16,400 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Cleveland-Cliffs by 9.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 1,855,548 shares of the mining company’s stock worth $12,897,000 after acquiring an additional 162,626 shares during the last quarter. Aperio Group LLC grew its stake in shares of Cleveland-Cliffs by 17.6% in the first quarter. Aperio Group LLC now owns 53,470 shares of the mining company’s stock worth $372,000 after acquiring an additional 7,984 shares during the last quarter. Private Advisor Group LLC grew its stake in shares of Cleveland-Cliffs by 110.9% in the first quarter. Private Advisor Group LLC now owns 63,074 shares of the mining company’s stock worth $438,000 after acquiring an additional 33,173 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Cleveland-Cliffs by 0.4% in the first quarter. Northern Trust Corp now owns 3,525,249 shares of the mining company’s stock worth $24,501,000 after acquiring an additional 13,074 shares during the last quarter. Institutional investors and hedge funds own 67.57% of the company’s stock.

CLF opened at $12.16 on Monday. Cleveland-Cliffs Inc has a fifty-two week low of $5.60 and a fifty-two week high of $12.46. The company has a debt-to-equity ratio of -7.50, a quick ratio of 2.72 and a current ratio of 3.26. The firm has a market cap of $3.62 billion, a price-to-earnings ratio of 24.32 and a beta of 1.71.

Cleveland-Cliffs (NYSE:CLF) last posted its quarterly earnings results on Friday, July 20th. The mining company reported $0.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.20. Cleveland-Cliffs had a net margin of 20.07% and a negative return on equity of 76.39%. The firm had revenue of $714.00 million for the quarter, compared to the consensus estimate of $653.75 million. During the same quarter in the previous year, the company earned $0.26 earnings per share. The business’s revenue was up 51.6% compared to the same quarter last year. sell-side analysts anticipate that Cleveland-Cliffs Inc will post 2.06 EPS for the current fiscal year.

Several equities research analysts have recently issued reports on CLF shares. JPMorgan Chase & Co. upgraded shares of Cleveland-Cliffs from a “neutral” rating to an “overweight” rating in a research note on Monday, July 23rd. ValuEngine downgraded shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research note on Thursday, August 23rd. Jefferies Financial Group upgraded shares of Cleveland-Cliffs to a “buy” rating and set a $13.00 price objective on the stock in a research note on Friday, September 7th. Morgan Stanley raised their price objective on shares of Cleveland-Cliffs from $8.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Friday, July 27th. Finally, B. Riley raised their price objective on shares of Cleveland-Cliffs from $12.00 to $13.00 and gave the stock a “$10.88” rating in a research note on Monday, July 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. Cleveland-Cliffs has a consensus rating of “Buy” and an average price target of $11.09.

Cleveland-Cliffs Company Profile

Cleveland-Cliffs Inc operates as an iron ore mining company in the United States. The company operates four iron ore mines in Michigan and Minnesota; and Koolyanobbing iron ore mining complex located in Western Australia. It sells its products to integrated steel companies and steel producers in the United States and the Asia Pacific.

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Institutional Ownership by Quarter for Cleveland-Cliffs (NYSE:CLF)

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