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Cliffs Natural Resources (NYSE:CLF) saw some unusual options trading on Tuesday. Stock traders bought 38,376 put options on the stock, StockRatingsNetwork.com reports. This is an increase of 371% compared to the typical daily volume of 8,150 put options.

CLF has been the subject of a number of recent research reports. Analysts at Deutsche Bank upgraded shares of Cliffs Natural Resources from a “hold” rating to a “buy” rating in a research note to investors on Tuesday, January 14th. They now have a $27.00 price target on the stock, up previously from $22.00. Separately, analysts at Brean Capital initiated coverage on shares of Cliffs Natural Resources in a research note to investors on Monday, January 13th. They set a “hold” rating and a $22.00 price target on the stock. Finally, analysts at Zacks upgraded shares of Cliffs Natural Resources from a “neutral” rating to an “outperform” rating in a research note to investors on Monday, January 6th. They now have a $30.00 price target on the stock. Four research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $26.28.

Cliffs Natural Resources (NYSE:CLF) opened at 21.30 on Wednesday. Cliffs Natural Resources has a 52-week low of $15.41 and a 52-week high of $38.53. The stock has a 50-day moving average of $24.3 and a 200-day moving average of $22.90. The company’s market cap is $3.262 billion.

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.

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