The Manufacturers Life Insurance Company Makes New $3.86 Million Investment in Cleveland-Cliffs Inc. $CLF

Posted by Stanley Muller on Sep 2nd, 2026

Cleveland-Cliffs logo The Manufacturers Life Insurance Company acquired a new stake in Cleveland-Cliffs Inc. (NYSE:CLF – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 410,836 shares of the mining company’s stock, valued at approximately $3,858,000. The Manufacturers Life Insurance Company owned 0.07% of Cleveland-Cliffs at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Public Employees Retirement System of Ohio raised its holdings in Cleveland-Cliffs by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 152,009 shares of the mining company’s stock valued at $1,855,000 after acquiring an additional 943 shares during the period. Moors & Cabot Inc. boosted its holdings in shares of Cleveland-Cliffs by 3.0% during the third quarter. Moors & Cabot Inc. now owns 33,118 shares of the mining company’s stock worth $404,000 after acquiring an additional 960 shares during the period. Rexford Capital Inc. boosted its holdings in shares of Cleveland-Cliffs by 11.8% during the fourth quarter. Rexford Capital Inc. now owns 9,500 shares of the mining company’s stock worth $126,000 after acquiring an additional 1,000 shares during the period. IFP Advisors Inc grew its position in shares of Cleveland-Cliffs by 117.5% in the fourth quarter. IFP Advisors Inc now owns 2,221 shares of the mining company’s stock valued at $29,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its position in shares of 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 purchasing an additional 1,214 shares during the last quarter. Institutional investors own 67.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Glj Research upgraded Cleveland-Cliffs from a “hold” rating to a “buy” rating and increased their target price for the stock from $15.01 to $15.60 in a research note on Friday, July 24th. Bank of America decreased their price objective on Cleveland-Cliffs from $14.00 to $11.50 and set a “neutral” rating on the stock in a report on Thursday, July 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cleveland-Cliffs in a report on Tuesday, July 21st. Barclays increased their price objective on Cleveland-Cliffs from $9.00 to $10.00 and gave the stock an “underweight” rating in a research report on Friday, July 24th. Finally, Morgan Stanley reissued an “equal weight” rating and set 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 assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $11.96.

Get Our Latest Stock Analysis on CLF

Insiders Place Their Bets

In other Cleveland-Cliffs news, EVP Celso L. Goncalves, Jr. sold 214,308 shares of Cleveland-Cliffs 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 completion of the transaction, the executive vice president directly owned 184,542 shares of the company’s stock, valued at $2,474,708.22. The trade was a 53.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.95% of the stock is owned by corporate insiders.

Cleveland-Cliffs Stock Down 0.2%

Shares of CLF opened at $11.53 on Wednesday. Cleveland-Cliffs Inc. has a 12 month low of $7.73 and a 12 month high of $16.70. The firm’s 50 day moving average is $10.89 and its 200-day moving average is $10.66. The stock has a market capitalization of $6.58 billion, a PE ratio of -7.12 and a beta of 2.10. The company has a current ratio of 1.89, a quick ratio of 0.63 and a debt-to-equity ratio of 1.32.

Cleveland-Cliffs (NYSE:CLF – Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The mining company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates 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 quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.50) earnings per share. Equities research analysts forecast that Cleveland-Cliffs Inc. will post -0.11 EPS for the current year.

Cleveland-Cliffs Profile

(Free Report)

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.