Short Term Price Target on Cliffs Natural Resources (CLF)

Cliffs Natural Resources (NYSE:CLF) : The most positive equity analysts on Cliffs Natural Resources (NYSE:CLF) expects the shares to touch $8, whereas, the least positive believes that the stock will trade at $1 in the short term. The company is covered by 7 Wall Street Brokerage Firms. The average price target for shares are $4.43 with an expected fluctuation of $2.49 from the mean.

Shares of Cliffs Natural Resources Inc. rose by 8% in the last five trading days and 29.45% for the last 4 weeks. Cliffs Natural Resources Inc. is up 89.63% in the last 3-month period. Year-to-Date the stock performance stands at 258.86%. Also, Macquarie upgrades their rating on the shares of Cliffs Natural Resources (NYSE:CLF). The current rating of the shares is Outperform. Earlier, the shares were rated a Neutral by the brokerage firm. The rating by the firm was issued on June 10, 2016.

Cliffs Natural Resources (NYSE:CLF) has an average broker rating of 2.84, which is interpreted as a Hold, as rated by 8 equity analysts. Nonetheless, 2 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. Nevertheless, the majority of 4 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 1, which is also a Strong Buy. 1 brokerage firm advices Strong Sell on the share due to lack of confidence about the future of the company. 1 considers that the stock is a Sell.

Cliffs Natural Resources (NYSE:CLF): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $5.26 and $5.17 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $5.70. The buying momentum continued till the end and the stock did not give up its gains. It closed at $5.67, notching a gain of 9.88% for the day. The total traded volume was 15,594,448 . The stock had closed at $5.16 on the previous day.

In an insider trading activity, Goncalves Lourenco, CEO of Cliffs Natural Resources Inc., executed a transaction worth $304,000 on May 9, 2016. A total of 100,000 shares were purchased at an average price of $3.04. The Insider information was divulged by the Securities and Exchange Commission in a Form 4 filing. The information is based on open market trades at the market prices.Option exercises are not covered.

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 also produces low-volatile metallurgical coal in the United States from its mines located in Alabama and West Virginia. In addition, it operates an iron ore mining complex in Western Australia and owns two non-operating iron ore mines in Eastern Canada. The Company operates in segments: U.S. Iron Ore, Asia Pacific Iron Ore and North American Coal. In the United States, it operates five iron ore mines in Michigan and Minnesota and two metallurgical coal operations located in Alabama and West Virginia. Its Asia Pacific operations consist of its Koolyanobbing iron ore mining complex in Western Australia.

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