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Stock Investors Sell Off Shares of Cliffs Natural Resources, Down 1.6%

Published on Wed, 01/23/2013 - 11:30
By Robert Cotter

Down 1.6% to $37.81, Cliffs Natural Resources (NYSE:CLF), is one of today's notable movers. The S&P is trading fractionally higher to 1,493 and the Dow is trading 0.5% higher to 13,782.

In the past 52 weeks, shares of Cliffs Natural Resources have traded between a low of $28.05 and a high of $78.85 and are now at $37.81, which is 35% above that low price. The 200-day and 50-day moving averages have moved 0.74% lower and 0.07% higher over the past week, respectively.

There is potential upside of 15.4% for shares of Cliffs Natural Resources based on a current price of $37.81 and an average consensus analyst price target of $43.62. Cliffs Natural Resources shares should encounter resistance at the 200-day moving average (MA) of $44.05 and support at the 50-day MA of $34.27.

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.

By Robert Cotter
rcotter@fnno.com