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Upgrade Alert for Cliffs Natural Resources (CLF)

By Amy Schwartz

Cliffs Natural Resources (NYSE:CLF) was upgraded from Underperform to Market Perform at Bernstein today. The stock closed yesterday at $17.23 on volume of 6.6 million shares, above average daily volume of 5.6 million.

Cliffs Natural Resources share prices have moved between a 52-week high of $28.98 and a 52-week low of $13.60 and closed yesterday at 27% above that low price at $17.23 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.2% while the 200-day MA has slid 0.3%.

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.

Based on a current price of $17.23, Cliffs Natural Resources is currently 12.8% above its average consensus analyst price target of $15.03. The stock should hit resistance at its 200-day moving average (MA) of $20.26, as well as support at its 50-day MA of $15.27.

SmarTrend recommended that subscribers consider buying shares of Cliffs Natural Resources on July 3rd, 2014 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $16.12. Since that recommendation, shares of Cliffs Natural Resources have risen 6.9%. 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

Ticker(s): CLF