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

APG Asset Management N.V. increased its position in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 162.3% in the second quarter, HoldingsChannel reports. The firm owned 58,667 shares of the mining company’s stock after purchasing an additional 36,300 shares during the period. APG Asset Management N.V.’s holdings in Cleveland-Cliffs were worth $842,000 at the end of the most recent reporting period.

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

Cleveland-Cliffs Stock Performance

CLF stock 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. Cleveland-Cliffs Inc. has a twelve month low of $10.21 and a twelve month high of $22.97. The business’s fifty day moving average is $12.96 and its 200-day moving average is $16.15. The company has a market cap of $6.18 billion, a P/E ratio of 17.55 and a beta of 1.97.

Cleveland-Cliffs (NYSE:CLF) last issued its 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 for the quarter, compared to analysts’ expectations of $5.18 billion. Cleveland-Cliffs had a return on equity of 4.94% and a net margin of 0.21%. The company’s revenue was down 14.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.69 earnings per share. Equities research analysts forecast that Cleveland-Cliffs Inc. will post -0.03 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CLF shares. JPMorgan Chase & Co. cut Cleveland-Cliffs from an “overweight” rating to a “neutral” rating and cut their price target for the company from $23.00 to $17.00 in a report on Tuesday, June 11th. 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 research report on Wednesday, June 26th. Morgan Stanley lowered their price target on shares of Cleveland-Cliffs from $15.00 to $13.50 and set an “equal weight” rating for the company in a report on Wednesday, September 18th. Seaport Res Ptn raised Cleveland-Cliffs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Finally, Citigroup lowered their target price on Cleveland-Cliffs from $18.00 to $12.50 and set a “neutral” rating for the company in a research note on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price 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.