UPDATE: Global Hunter Securities Starts Cliffs Natural Resources (CLF) at Neutral; Looking Real Good, But Let's Pause
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Price: $20.37 -1.21%
Rating Summary:
6 Buy, 11 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
6 Buy, 11 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade CLF Now!
(Updated - July 18, 2012 8:52 AM EDT)
Global Hunter Securities initiates coverage on Cliffs Natural Resources (NYSE: CLF) with a Neutral.
Analyst, Wayne Atwell, said, "Management is transforming the company into a source of raw materials for the global steel industry, which is benefiting from economic growth in the developing world. It is a major global iron ore producer and a significant producer of high- and low-volatile metallurgical coal in the US and Australia. It is expanding its iron ore capacity in Canada from 8 million tons to 24 million tons, and in Australia from 8.5 million tons to 11 million tons, and is at the feasibility stage with its Black Thor chromite project. We look for a meaningful improvement in its profitability in 2013 as it ramps up its two iron ore expansion projects and cuts costs...While we believe CLF shares are attractively priced, we suggest investors postpone taking a position until the slowdown in the global steel industry is fully reflected in its shares."
For an analyst ratings summary and ratings history on Cliffs Natural Resources click here. For more ratings news on Cliffs Natural Resources click here.
Shares of Cliffs Natural Resources closed at $45.43 yesterday, with a 52 week range of $44.40-$102.00.
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Global Hunter Securities initiates coverage on Cliffs Natural Resources (NYSE: CLF) with a Neutral.
Analyst, Wayne Atwell, said, "Management is transforming the company into a source of raw materials for the global steel industry, which is benefiting from economic growth in the developing world. It is a major global iron ore producer and a significant producer of high- and low-volatile metallurgical coal in the US and Australia. It is expanding its iron ore capacity in Canada from 8 million tons to 24 million tons, and in Australia from 8.5 million tons to 11 million tons, and is at the feasibility stage with its Black Thor chromite project. We look for a meaningful improvement in its profitability in 2013 as it ramps up its two iron ore expansion projects and cuts costs...While we believe CLF shares are attractively priced, we suggest investors postpone taking a position until the slowdown in the global steel industry is fully reflected in its shares."
For an analyst ratings summary and ratings history on Cliffs Natural Resources click here. For more ratings news on Cliffs Natural Resources click here.
Shares of Cliffs Natural Resources closed at $45.43 yesterday, with a 52 week range of $44.40-$102.00.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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