Market Overview

UPDATE: Cliffs Natural Resources Downgraded by Macquarie

Related CLF
Mid-Day Market Update: Fairchild Semiconductor Surges Following Announcement of ON Semiconductor Offer; Star Bulk Carriers Shares Slide
8 Stocks Moving In Friday's After-Hours Session
Iron Ore: Further Down The Rabbit Hole (Seeking Alpha)

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

Oct 2015Deutsche BankMaintainsHold
Sep 2015MacquarieMaintainsOutperform
Sep 2015FBR CapitalInitiates Coverage onMarket Perform

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)

Get Benzinga's Newsletters