Cliffs Natural Resources Receives “Overweight” Rating from JPMorgan Chase & Co. (CLF)
Cliffs Natural Resources (NYSE:CLF)‘s stock had its “overweight” rating restated by analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Monday. They currently have a $19.00 price objective on the stock, down from their previous price objective of $26.00. JPMorgan Chase & Co.’s target price points to a potential upside of 19.95% from the company’s current price.
Cliffs Natural Resources (NYSE:CLF) traded down 4.67% during mid-day trading on Monday, hitting $15.10. The stock had a trading volume of 5,588,361 shares. Cliffs Natural Resources has a 52-week low of $13.60 and a 52-week high of $28.98. The stock has a 50-day moving average of $14.91 and a 200-day moving average of $18.52. The company has a market cap of $2.313 billion and a price-to-earnings ratio of 13.13. Cliffs Natural Resources also saw a significant decline in short interest during the month of June. As of June 30th, there was short interest totalling 49,011,566 shares, a decline of 5.4% from the June 13th total of 51,793,022 shares. Based on an average daily volume of 5,496,497 shares, the short-interest ratio is currently 8.9 days. Currently, 32.2% of the shares of the stock are short sold.
CLF has been the subject of a number of other recent research reports. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Cliffs Natural Resources in a research note on Monday, July 14th. They now have a $16.00 price target on the stock, down previously from $19.00. Separately, analysts at FBR Capital Markets cut their price target on shares of Cliffs Natural Resources from $25.00 to $20.00 in a research note on Thursday, July 3rd. They now have a “market perform” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Cliffs Natural Resources in a research note on Thursday, June 19th. They now have a $16.00 price target on the stock. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $18.47.
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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