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A statement released earlier today by FBR & Co. about Cliffs Natural Resources (NYSE:CLF) bumps down the target price to $6.00

Stating a potential upside of 0.05%, FBR & Co. dropped the price target of Cliffs Natural Resources (NYSE:CLF) to $6.00

Previously on Friday October 07, 2016, Credit Suisse Group AG reported about Cliffs Natural Resources (NYSE:CLF) lowered the target price from $5.58 to $5.50. At the time, this indicated a possible downside of -0.01%.

Yesterday Cliffs Natural Resources (NYSE:CLF) traded 2.69% higher at $5.73. The company’s 50-day moving average is $5.79 and its 200-day moving average is $5.27. The last stock close price is up 8.73% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time. 7,752,928 shares of the stock were exchanged, down from an average trading volume of 11,079,100

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Cliffs Natural Resources (NYSE:CLF)

Cliffs Natural Resources has a 52 week low of $1.20 and a 52 week high of $8.45 with a PE ratio of 28.51 Cliffs Natural Resources’s market capitalization is currently $0.

In addition to FBR & Co. reporting its stock price target, a total of 8 brokers have issued a research note on the company. The average stock price target is $3.81 with zero equity analysts rating the company a strong buy, zero equity analysts rating the company a buy, seven equity analysts rating the company a hold, four equity analysts rating the company a underperform, and lastly zero analysts rating the company a sell.

General Company Details For Cliffs Natural Resources (NYSE:CLF)

Cliffs Natural Resources Inc. is a mining and natural resources company. The Company is a supplier of iron ore pellets to the North American steel industry from its mines and pellet plants located in Michigan and Minnesota. The Company's segments include U.S. Iron Ore and Asia Pacific Iron Ore. The Company is a producer of iron ore pellets, primarily selling production from U.S. Iron Ore to integrated steel companies in the United States and Canada. The Company manages approximately five iron ore mines located in Michigan and Minnesota. In Michigan, it is operating over two iron ore mines, Empire mine and Tilden mine. In Minnesota, it is operating approximately one iron ore mine, Hibbing mine. The other two iron ore operations in Minnesota, United Taconite mine and Northshore mine. Its Asia Pacific Iron Ore operations are located in Western Australia and consist of its Koolyanobbing operation. The Company operates an iron ore mining complex in Western Australia.

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