More from Dividend.com
Referenced Stocks

Goldman Cuts Target, Estimates for Cliffs Natural Resources, but Still a “Buy” (CLF)

By Dividend.com,  June 25, 2012, 09:12:23 AM EDT

Iron ore and coal producer Cliffs Natural Resources Inc. ( CLF ) on Monday caught some mixed commentary from analysts at Goldman Sachs.

The firm maintained a "Buy" rating on CLF but lowered its price target from $77 to $65. That new target suggests a 36% upside to the stock's Friday closing price of $47.63.

Goldman also slashed its earnings estimates for the company by around 29%, citing weaker commodity price forecasts. Still, CLF is the firm's top pick in the mining space.

Cliffs Natural Resources shares fell $1.20, or -2.5%, in premarket trading Monday.

The Bottom Line
Shares of Cliffs Natural Resources ( CLF ) have a 5.25% dividend yield, based on Friday's closing stock price of $47.63. The stock has technical support in the $40 price area. If the shares can firm up, we see overhead resistance around the $52-$56 price levels.

Cliffs Natural Resources Inc. ( CLF ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 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 .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: CLF



Latest News Video

How To Grow Your Small Business
How To Grow Your Small Business     
Private Wealth Revives, Managers Face Higher Costs
Private Wealth Revives, Managers Fa...
Private Island on the Thames: $11.7 Million
Private Island on the Thames: $11.7...
Take Control Of Your Wealth
Take Control Of Your Wealth         


Sign-in
Existing NASDAQ.com member? Log in here.

By signing into the site using any of the third-party services above, you agree to NASDAQ.com's Terms of Use.




Most Active by Volume:

Company Last Sale Change Net / %
S $ 7.095 0.23  3.07%
PFE $ 29.765 0.37  1.24%
MU $ 13.759 0.01  0.07%
BAC $ 13.26 0.01  0.08%
SIRI $ 3.455 0.06  1.62%
BBRY $ 14.161 0.68  4.58%
NWSAV $ 15.70 unch
ELN $ 14.305 0.53  3.81%