Zacks Investment Research downgraded Cliffs Natural Resources Inc (NYSE:CLF) to Hold in a report released today.
- Updated: October 17, 2016
Yesterday Cliffs Natural Resources Inc (NYSE:CLF) traded 7.30% higher at $5.72. The company’s 50-day moving average is $5.77 and its 200-day moving average is $5.29. The last stock close price is up 8.34% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time. 4,839,799 shares of the stock were exchanged, down from an average trading volume of 10,883,800
Zacks Investment Research has downgraded Cliffs Natural Resources Inc (NYSE:CLF) to Hold in a report released on Monday October 17, 2016.
Previously on Thursday October 13, 2016, FBR & Co. reported about Cliffs Natural Resources Inc (NYSE:CLF) lowered the target price from $8.00 to $6.00. At the time, this indicated a possible upside of 0.05%.
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Cliffs Natural Resources Inc has a 52 week low of $1.20 and a 52 week high of $8.45 with a P/E ratio of 28.51 The company’s market cap is currently $0.
In addition to Zacks Investment Research reporting its target price, a total of 8 firms have issued a report on the stock. The consensus target price is $3.81 with 0 firms rating the stock a strong buy, 0 firms rating the stock a buy, 7 firms rating the stock a hold, 4 firms rating the stock a underperform, and finally 0 firms rating the stock a sell.
About Cliffs Natural Resources Inc (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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