Cliffs Natural Resources (CLF) : The consensus on Cliffs Natural Resources (CLF) based on 7 analyst recommendation on the company stock is 2.53, which is interpreted as a Hold recommendation. Zacks Investment Research has issued a rank of 2 which endorses a Buy on the stock. However, 2 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 4 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 1 analyst also believes that the downside risk to the stock is higher and suggests a Sell on Cliffs Natural Resources (CLF).
Cliffs Natural Resources (CLF) stock is expected to deviate a maximum of $2.15 from the average target price of $6.08 for the short term period. 6 Street Experts have initiated coverage on the stock with the most promising target being $8 and the most muted being $2.
Company shares have received an average consensus rating of Hold for the current week Also, JP Morgan maintains its rating on Cliffs Natural Resources (NYSE:CLF). The global brokerage major lowers the current price target from $10.5 per share to $10 per share. Analysts at the JP Morgan have a current rating of Overweight on the shares. The rating by the firm was issued on July 29, 2016.
Cliffs Natural Resources (NYSE:CLF): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $7.94 and $7.78 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $8.19. The buying momentum continued till the end and the stock did not give up its gains. It closed at $8.07, notching a gain of 1.38% for the day. The total traded volume was 9,738,675 . The stock had closed at $7.96 on the previous day.
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.