A number of stock research firms have changed their ratings and price targets for Cliffs Natural Resources (NYSE: CLF) during the last seven days:

  • Cliffs Natural Resources had its price target lowered by analysts at Bank of America to $42.00. They wrote, “Current spot prices imply significant risk for Cliffs, which we believe are somewhat offset by the prospects of iron ore prices recovering and its elevated dividend yield. We cut our price objective to $42/share from $52. Our new PO uses a 5.5-6x EV/EBITDA multiple on various stress tests of earnings rather than estimates.”
  • Cliffs Natural Resources had its “buy” rating reaffirmed by analysts at CRT Capital. They now have a $50.00 price target on the stock.
  • Cliffs Natural Resources had its “outperform” rating reaffirmed by analysts at Macquarie. They now have a $61.00 price target on the stock.
  • Cliffs Natural Resources was downgraded by analysts at Credit Suisse from a “neutral” rating to an “underperform” rating. They now have a $30.00 price target on the stock, down previously from $50.00. They wrote, “Most iron ore watchers have been shocked to see the spot commodity price fall by 35% in the past 2 months. Like others, we are watching inventory data and a spot commodity price in free fall. Although we feel as though we have a reasonable grasp of what has happened over the past few weeks in the iron ore market, we will not pretend that we know exactly what is going to happen next. We have no new operational insights into CLF’s business since the Strategy Day a month ago, so the focus of this report is CLF’s unavoidable exposure to the commodity price.”
  • Cliffs Natural Resources was downgraded by analysts at UBS AG from a “buy” rating to a “neutral” rating. They now have a $35.00 price target on the stock, down previously from $58.00.
  • Cliffs Natural Resources was downgraded by analysts at Longbow Research from a “buy” rating to a “neutral” rating.

Cliffs Natural Resources Inc traded up 14.49% on Friday, hitting $39.91. Cliffs Natural Resources Inc has a 52-week low of $32.25 and a 52-week high of $80.15. The company has a market cap of $5.687 billion and a price-to-earnings ratio of 3.52.

Cliffs Natural Resources Inc. is an international mining and natural resources company. The Company is an iron ore producer and a producer of metallurgical coal.