Sun Sep 15 13:44:50 UTC 2024: ## Oppenheimer & Co. Inc. Increases Stake in Cleveland-Cliffs Inc.

**New York, NY – September 15, 2024** – Oppenheimer & Co. Inc. increased its position in Cleveland-Cliffs Inc. (NYSE: CLF) by 5.4% during the second quarter, according to the firm’s recent SEC filing. The institutional investor now owns 307,500 shares of the mining company’s stock, valued at $4,732,000 at the end of the quarter.

Several other hedge funds have also adjusted their positions in Cleveland-Cliffs. Hobbs Group Advisors LLC initiated a new position worth approximately $31,000, while Gradient Investments LLC increased its stake by 138.8%. Rise Advisors LLC saw a substantial increase of 2,858% in its holdings. Hexagon Capital Partners LLC grew its position by 41.7% and EverSource Wealth Advisors LLC boosted its holdings by 247.8%. Overall, institutional investors and hedge funds own 67.68% of Cleveland-Cliffs’ stock.

Cleveland-Cliffs opened at $11.91 on Friday. The stock has a 52-week low of $10.21 and a 52-week high of $22.97.

Recent research from various firms provides mixed signals about Cleveland-Cliffs. While JPMorgan Chase & Co. downgraded the stock to “neutral” and lowered its price target, Jefferies Financial Group initiated coverage with a “buy” rating. Citigroup also downgraded the stock but B. Riley and Seaport Res Ptn maintained a “buy” rating. The overall consensus target price from analysts is $17.75.

Cleveland-Cliffs is the largest flat-rolled steel company and the largest iron ore pellet producer in North America. The company’s operations span from mining to steelmaking, rolling, finishing, and downstream manufacturing of steel parts and components.

**Note:** This article summarizes the provided text and does not offer investment advice.

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