Cliffs Natural Resources Downgraded at BofA/Merrill Lynch (CLF)

Cliffs Natural Resources Downgraded at BofA/Merrill Lynch (CLF)

RSS

Bank of America/Merrill Lynch reported on Wednesday that it has downgraded mining company, Cliffs Natural Resources Inc (CLF).

The firm has lowered its rating on CLF from “Neutral” to “Underperform,” and has given the company a $16 price target. This price target suggests a -14% decline from the stock’s current price of $18.59.

Analysts have downgraded CLF due to it being leveraged to lower met coal prices.

Cliffs Natural Resources shares were down 35 cents, or -1.88% during premarket trading Wednesday. The stock is down -52% YTD.

The Bottom Line
Shares of Cliffs Natural Resources Inc (CLF) have a 3.23% yield, based on Tuesday’s closing price of $18.59.

Cliffs Natural Resources Inc (CLF) is not recommended at this time, holding a Dividend.com DARS™ Rating of 2.9 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

Free Updates

Join over 100,000 investors who get the latest news from Dividend.com.

Best Dividend Stocks

Looking for stocks that are poised for growth and pay solid dividends? Visit our list of the:

Best Dividend Stocks

Partner Center

Best CD Rates

Sitting on some extra cash and looking for the most current and profitable CD Rates?

Get The Best CD Rates

14 Day Free Trial

Earn more from your dividend portfolio within the next 14 days.

Sign Up Today