Cleveland-Cliffs Inc. (NYSE:CLF) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its stake in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 14.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,957 shares of the mining company’s stock after selling 19,281 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Cleveland-Cliffs were worth $1,404,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd purchased a new stake in shares of Cleveland-Cliffs during the second quarter worth about $26,000. EverSource Wealth Advisors LLC raised its holdings in Cleveland-Cliffs by 247.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,885 shares of the mining company’s stock valued at $43,000 after acquiring an additional 1,343 shares during the last quarter. Hobbs Group Advisors LLC purchased a new position in shares of Cleveland-Cliffs during the 2nd quarter worth $31,000. Gradient Investments LLC boosted its holdings in shares of Cleveland-Cliffs by 138.8% during the second quarter. Gradient Investments LLC now owns 2,149 shares of the mining company’s stock worth $33,000 after purchasing an additional 1,249 shares during the last quarter. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of Cleveland-Cliffs in the second quarter valued at $56,000. Institutional investors and hedge funds own 67.68% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on CLF. Morgan Stanley reduced their target price on Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating on the stock in a research report on Wednesday, September 18th. Seaport Res Ptn upgraded shares of Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. StockNews.com lowered shares of Cleveland-Cliffs from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Finally, Citigroup decreased their price target on shares of Cleveland-Cliffs from $18.00 to $12.50 and set a “neutral” rating on the stock in a report on Tuesday, September 10th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $17.56.

Cleveland-Cliffs Stock Performance

Shares of CLF stock opened at $12.45 on Friday. The company has a current ratio of 1.85, a quick ratio of 0.55 and a debt-to-equity ratio of 0.53. The company has a market cap of $6.15 billion, a PE ratio of -12.84 and a beta of 1.97. The company’s fifty day simple moving average is $12.69 and its 200-day simple moving average is $13.93. Cleveland-Cliffs Inc. has a 52 week low of $10.21 and a 52 week high of $22.97.

Cleveland-Cliffs (NYSE:CLF) last released its quarterly earnings data on Monday, November 4th. The mining company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.02). Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. The company had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.72 billion. During the same period last year, the business earned $0.54 earnings per share. The company’s revenue for the quarter was down 18.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Cleveland-Cliffs Inc. will post -0.45 EPS for the current year.

Cleveland-Cliffs Profile

Cleveland-Cliffs is the largest flat-rolled steel company and the largest iron ore pellet producer in North America. The company is vertically integrated from mining through iron making, steelmaking, rolling, finishing and downstream with hot and cold stamping of steel parts and components. The company was formerly known as Cliffs Natural Resources Inc and changed its name to Cleveland-Cliffs Inc in August 2017.