Market Overview

UPDATE: Cliffs Natural Resources Downgraded by Macquarie

Share:
Related CLF
Iron Ore, Steel Falling And Taking The Sector With It
Thursday's Mid-Day Movers: Real Good Solar, Xoom, ConforMIS, Health Net And More
Alcoa (AA) Q2 Preview: Another Earnings Beat in the Cards? - Analyst Blog (Zacks)

In a report issued Friday, Macquarie downgraded its rating of Cliffs Natural Resources (NYSE: CLF) from Neutral to Underperform and lowered the target price to $10.

Macquarie analyst Aldo Mazzaferro believes that Cliffs will need to idle Bloom Lake and some coal production. Even with success coming from the mining sector as a whole, Cliffs is still facing a tough road ahead.

Cliffs Natural Resources has responded poorly to the news as it is down in Friday's session 3.9 percent to $16.76 at last check.

Latest Ratings for CLF

DateFirmActionFromTo
Apr 2015CitigroupMaintainsSell
Apr 2015CitigroupMaintainsSell
Apr 2015CitigroupMaintainsSell

View More Analyst Ratings for CLF
View the Latest Analyst Ratings

Posted-In: Aldo Mazzaferro MacquarieAnalyst Color News Downgrades Price Target Analyst Ratings

 

Related Articles (CLF)

Around the Web, We're Loving...

Get Benzinga's Newsletters