Thrivent Financial for Lutherans Has $1.99 Million Stock Position in Cleveland-Cliffs Inc. (NYSE:CLF)

Thrivent Financial for Lutherans lessened its stake in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 52.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 129,238 shares of the mining company’s stock after selling 142,363 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Cleveland-Cliffs were worth $1,989,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CLF. Wealth Enhancement Advisory Services LLC grew its position in Cleveland-Cliffs by 1.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 25,053 shares of the mining company’s stock worth $570,000 after acquiring an additional 476 shares during the last quarter. Hexagon Capital Partners LLC grew its holdings in shares of Cleveland-Cliffs by 41.7% during the first quarter. Hexagon Capital Partners LLC now owns 1,700 shares of the mining company’s stock worth $39,000 after purchasing an additional 500 shares during the last quarter. InterOcean Capital Group LLC increased its stake in shares of Cleveland-Cliffs by 4.1% in the first quarter. InterOcean Capital Group LLC now owns 20,334 shares of the mining company’s stock valued at $462,000 after buying an additional 805 shares during the period. J.W. Cole Advisors Inc. raised its holdings in Cleveland-Cliffs by 3.6% in the 1st quarter. J.W. Cole Advisors Inc. now owns 24,575 shares of the mining company’s stock valued at $559,000 after buying an additional 845 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its position in Cleveland-Cliffs by 7.8% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 13,066 shares of the mining company’s stock worth $201,000 after buying an additional 949 shares during the period. 67.68% of the stock is currently owned by institutional investors and hedge funds.

Cleveland-Cliffs Stock Up 1.7 %

Shares of NYSE CLF opened at $12.99 on Wednesday. The company has a quick ratio of 0.60, a current ratio of 1.87 and a debt-to-equity ratio of 0.48. The firm has a market cap of $6.18 billion, a PE ratio of 17.55 and a beta of 1.97. The company’s fifty day simple moving average is $12.96 and its 200 day simple moving average is $16.15. Cleveland-Cliffs Inc. has a 12-month low of $10.21 and a 12-month high of $22.97.

Cleveland-Cliffs (NYSE:CLF) last issued its earnings results on Monday, July 22nd. The mining company reported $0.11 EPS for the quarter. Cleveland-Cliffs had a return on equity of 4.94% and a net margin of 0.21%. The company had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.18 billion. During the same period last year, the business posted $0.69 EPS. The firm’s revenue for the quarter was down 14.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Cleveland-Cliffs Inc. will post -0.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CLF. B. Riley reaffirmed a “buy” rating and set a $23.00 price target on shares of Cleveland-Cliffs in a research note on Tuesday, June 25th. Citigroup reduced their price target on Cleveland-Cliffs from $18.00 to $12.50 and set a “neutral” rating on the stock in a research report on Tuesday, September 10th. JPMorgan Chase & Co. downgraded Cleveland-Cliffs from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $23.00 to $17.00 in a research report on Tuesday, June 11th. 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 report on Wednesday, September 18th. Finally, Bank of America lowered their price target on shares of Cleveland-Cliffs from $20.00 to $18.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $17.56.

About Cleveland-Cliffs

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.