APG Asset Management N.V. Has $842,000 Stock Holdings in Cleveland-Cliffs Inc. (NYSE:CLF)

APG Asset Management N.V. lifted its holdings in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 162.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 58,667 shares of the mining company’s stock after purchasing an additional 36,300 shares during the quarter. APG Asset Management N.V.’s holdings in Cleveland-Cliffs were worth $842,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CLF. Wealth Enhancement Advisory Services LLC lifted its holdings 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 during the last quarter. Hexagon Capital Partners LLC raised its position in shares of Cleveland-Cliffs by 41.7% in the first quarter. Hexagon Capital Partners LLC now owns 1,700 shares of the mining company’s stock valued at $39,000 after purchasing an additional 500 shares during the period. InterOcean Capital Group LLC lifted 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 worth $462,000 after buying an additional 805 shares during the last quarter. J.W. Cole Advisors Inc. boosted its holdings in shares of Cleveland-Cliffs by 3.6% during the 1st quarter. J.W. Cole Advisors Inc. now owns 24,575 shares of the mining company’s stock worth $559,000 after buying an additional 845 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in shares of 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. Institutional investors own 67.68% of the company’s stock.

Cleveland-Cliffs Trading Up 1.7 %

Shares of Cleveland-Cliffs stock opened at $12.99 on Wednesday. The company’s fifty day moving average price is $12.96 and its two-hundred day moving average price is $16.15. The firm has a market capitalization of $6.18 billion, a PE ratio of 17.55 and a beta of 1.97. Cleveland-Cliffs Inc. has a 52-week low of $10.21 and a 52-week high of $22.97. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.87 and a quick ratio of 0.60.

Cleveland-Cliffs (NYSE:CLF) last posted its quarterly earnings results on Monday, July 22nd. The mining company reported $0.11 earnings per share (EPS) for the quarter. The firm had revenue of $5.09 billion during 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 quarterly revenue was down 14.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.69 earnings per share. On average, analysts expect that Cleveland-Cliffs Inc. will post -0.03 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Bank of America cut their target price on shares of Cleveland-Cliffs from $20.00 to $18.00 and set a “neutral” rating for the company in a research report on Wednesday, June 26th. Morgan Stanley decreased their target price on Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating for the company in a research note on Wednesday, September 18th. JPMorgan Chase & Co. downgraded Cleveland-Cliffs from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $23.00 to $17.00 in a research report on Tuesday, June 11th. Seaport Res Ptn raised Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, B. Riley reaffirmed a “buy” rating and set a $23.00 target price on shares of Cleveland-Cliffs in a research report on Tuesday, June 25th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $17.56.

Cleveland-Cliffs Company 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.