Venture Visionary Partners LLC Lowers Holdings in Cleveland-Cliffs Inc. (NYSE:CLF)

Venture Visionary Partners LLC cut its position in Cleveland-Cliffs Inc. (NYSE:CLF) by 45.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,946 shares of the mining company’s stock after selling 17,611 shares during the quarter. Venture Visionary Partners LLC’s holdings in Cleveland-Cliffs were worth $267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of CLF. Atlas Capital Advisors LLC purchased a new stake in Cleveland-Cliffs in the 1st quarter worth approximately $69,000. Wealth Enhancement Advisory Services LLC lifted its stake in Cleveland-Cliffs by 1.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 25,053 shares of the mining company’s stock worth $570,000 after purchasing an additional 476 shares in the last quarter. 180 Wealth Advisors LLC lifted its stake in Cleveland-Cliffs by 2.0% in the 1st quarter. 180 Wealth Advisors LLC now owns 58,692 shares of the mining company’s stock worth $1,335,000 after purchasing an additional 1,146 shares in the last quarter. Register Financial Advisors LLC raised its position in shares of Cleveland-Cliffs by 7.0% during the 1st quarter. Register Financial Advisors LLC now owns 74,825 shares of the mining company’s stock valued at $1,702,000 after buying an additional 4,900 shares in the last quarter. Finally, Harbour Capital Advisors LLC raised its position in shares of Cleveland-Cliffs by 69.3% during the 1st quarter. Harbour Capital Advisors LLC now owns 45,500 shares of the mining company’s stock valued at $1,018,000 after buying an additional 18,620 shares in the last quarter. 67.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CLF. Morgan Stanley lowered their price objective on shares of 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. Citigroup reduced their target price 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. Bank of America reduced their target price on shares of Cleveland-Cliffs from $20.00 to $18.00 and set a “neutral” rating on the stock in a report on Wednesday, June 26th. Finally, Seaport Res Ptn raised shares of Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Cleveland-Cliffs presently has an average rating of “Hold” and an average price target of $17.56.

Cleveland-Cliffs Trading Down 3.4 %

Shares of CLF opened at $13.00 on Thursday. The firm’s 50-day moving average price is $12.60 and its 200-day moving average price is $15.16. The firm has a market capitalization of $6.18 billion, a price-to-earnings ratio of 17.57 and a beta of 1.98. The company has a current ratio of 1.87, a quick ratio of 0.60 and a debt-to-equity ratio of 0.48. Cleveland-Cliffs Inc. has a 1-year low of $10.21 and a 1-year high of $22.97.

Cleveland-Cliffs (NYSE:CLF) last announced its earnings results on Monday, July 22nd. The mining company reported $0.11 earnings per share for the quarter. The firm had revenue of $5.09 billion for the quarter, compared to analyst estimates of $5.18 billion. Cleveland-Cliffs had a net margin of 0.21% and a return on equity of 4.94%. The company’s revenue for the quarter was down 14.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.69 EPS. Sell-side analysts anticipate that Cleveland-Cliffs Inc. will post -0.23 EPS for the current year.

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.