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Stock Investors Sell Off Shares of Cliffs Natural Resources, Down 3.1%

Published on Mon, 03/04/2013 - 11:15
By Robert Cotter

Cliffs Natural Resources (NYSE:CLF), a company whose shares are moving quickly, is trading 3.1% lower to $24.47. The Dow Jones Industrial Average is now trading 0.3% lower to 14,056 and the S&P is trading fractionally lower to 1,517.

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.

In the past 52 weeks, shares of Cliffs Natural Resources have traded between the current low of $24.44 and a high of $73.63 and are now at $24.47. The 200-day and 50-day moving averages have moved 1.92% lower and 2.04% lower over the past week, respectively.

Cliffs Natural Resources (NYSE:CLF) has potential upside of 47.4% based on a current price of $24.47 and analysts' consensus price target of $36.06. Cliffs Natural Resources shares should first meet resistance at the 50-day moving average (MA) of $34.44 and find additional resistance at the 200-day MA of $39.76.

By Robert Cotter
rcotter@fnno.com