Upgrade Alert for Cliffs Natural Resources (CLF)
Cliffs Natural Resources (NYSE:CLF) was upgraded from Hold to Buy at Deutsche Bank today. The stock closed yesterday at $36.14 on volume of 5.1 million shares, below average daily volume of 8.3 million.
Cliffs Natural Resources (NYSE:CLF) has potential upside of 20.7% based on a current price of $36.14 and analysts' consensus price target of $43.62. The stock should hit resistance at its 200-day moving average (MA) of $44.88, as well as support at its 50-day MA of $34.28.
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.
Cliffs Natural Resources share prices have moved between a 52-week high of $78.85 and a 52-week low of $28.05 and closed yesterday at 29% above that low price at $36.14 per share. Over the last five market days, the 200-day moving average (MA) has gone down 1.1% while the 50-day MA has remained constant.
SmarTrend recommended that subscribers consider buying shares of Cliffs Natural Resources on December 12th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $32.51. Since that recommendation, shares of Cliffs Natural Resources have risen 11.2%. We continue to monitor CLF for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades Cliffs Natural Resources