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Cliffs Natural Resources (NYSE:CLF) was upgraded by research analysts at Sanford C. Bernstein from an “underperform” rating to a “market perform” rating in a report released on Thursday, TheFlyOnTheWall.com reports. The firm currently has a $16.00 target price on the stock, up from their previous target price of $13.00. Sanford C. Bernstein’s price target would suggest a potential downside of 7.78% from the company’s current price.

Cliffs Natural Resources (NYSE:CLF) traded down 0.57% on Thursday, hitting $17.35. 5,901,864 shares of the company’s stock traded hands. Cliffs Natural Resources has a 52-week low of $13.60 and a 52-week high of $28.98. The stock’s 50-day moving average is $15.36 and its 200-day moving average is $17.98. The company has a market cap of $2.658 billion and a P/E ratio of 53.86.

Cliffs Natural Resources (NYSE:CLF) last announced its earnings results on Wednesday, July 23rd. The company reported ($0.01) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.09) by $0.08. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter last year, the company posted $0.82 earnings per share. Cliffs Natural Resources’s revenue was down 26.0% compared to the same quarter last year. On average, analysts predict that Cliffs Natural Resources will post $-0.31 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.46%. The ex-dividend date is Wednesday, August 13th.

A number of other firms have also recently commented on CLF. Analysts at Clarkson Capital downgraded shares of Cliffs Natural Resources from a “market perform” rating to an “underperform” rating in a research note on Wednesday. They now have a $13.00 price target on the stock. Separately, analysts at Cowen and Company cut their price target on shares of Cliffs Natural Resources from $16.00 to $15.00 in a research note on Monday, July 28th. Finally, analysts at Macquarie upgraded shares of Cliffs Natural Resources from an “underperform” rating to a “neutral” rating in a research note on Monday, July 28th. They now have a $17.00 price target on the stock, up previously from $10.00. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $16.88.

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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