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JPMorgan downgraded Cleveland-Cliffs (NYSE:CLF) from Overweight to Neutral in a report released today.

JPMorgan has downgraded Cleveland-Cliffs (NYSE:CLF) from Overweight to Neutral in a report released on Monday October 23, 2017.

Previously on Friday July 07, 2017, Jefferies & Co reported on Cleveland-Cliffs (NYSE:CLF) increased the target price from $0.00 to $9.00. At the time, this indicated a possible upside of 0.35%.

Yesterday Cleveland-Cliffs (NYSE:CLF) traded -2.14% lower at $7.02. The company’s 50-day moving average is $7.36 and its 200-day moving average is $7.05. The last closing price is down -2.56% from the 200-day moving average, compared to the S&P 500 which has increased 0.03% over the same time period. 6,937,110 shares of the stock traded hands, down from an average trading volume of 10,645,600

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Cleveland-Cliffs (NYSE:CLF)

Cleveland-Cliffs has a 52 week low of $4.91 and a 52 week high of $12.37 with a P/E ratio of 31.51 The company’s market cap is currently $0.

In addition to JPMorgan reporting its stock price target, a total of 8 brokers have issued a report on the company. The average stock price target is $3.81 with 0 brokers rating the stock a strong buy, 0 brokers rating the stock a buy, 7 brokers rating the stock a hold, 4 brokers rating the stock a underperform, and finally 0 brokers rating the stock a sell.

General Information About Cleveland-Cliffs (NYSE:CLF)

Cleveland-Cliffs Inc, formerly 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, Canada and Mexico. Its Asia Pacific Iron Ore operations are located in Western Australia and consist of its Koolyanobbing operation. The Koolyanobbing operations serve the Asian iron ore markets with direct-shipped fines and lump ore. In addition, the Company operates an iron ore mining complex in Western Australia. In the United States, the Company owned four operational iron ore mines and one indefinitely idled mine.

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