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Upgrade Alert for Cliffs Natural Resources (CLF)

By Nick Russo

Cliffs Natural Resources (NYSE:CLF) was upgraded from Hold to Buy at Deutsche Bank today. The stock closed yesterday at $22.36 on volume of 7.7 million shares, above average daily volume of 6.8 million.

Cliffs Natural Resources Inc. is a diversified mining and natural resources company. The Company mines for iron ore and coal in locations across North America, South America, and Australia.

There is potential upside of 4.1% for shares of Cliffs Natural Resources based on a current price of $22.36 and an average consensus analyst price target of $23.29. The stock should hit resistance at its 50-day moving average (MA) of $25.51, as well as support at its 200-day MA of $21.57.

In the past 52 weeks, Cliffs Natural Resources share prices have been bracketed by a low of $15.41 and a high of $38.55 and closed yesterday at $22.36, 45% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.5% while the 200-day MA has risen 0.2%.

SmarTrend recommended that its subscribers protect gains by selling shares of Cliffs Natural Resources on December 12th, 2013 by issuing a Downtrend alert when the shares were trading at $23.64. Since that call, shares of Cliffs Natural Resources have fallen 5.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: analyst upgrades/downgrades Cliffs Natural Resources

Ticker(s): CLF