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More to Cliffs than iron ore

Since the seaborne iron ore price started falling from its 2011 peak, Cliffs Natural Resources (US:CLF) has remained for the most part a ‘sell’ or ‘hold’ stock. Now with the US domestic steel market strengthening, the company’s net debt decreasing and trade protectionist policies looming, analysts are starting to move into the ‘buy’ camp.

More to Cliffs than iron ore More to Cliffs than iron ore More to Cliffs than iron ore More to Cliffs than iron ore More to Cliffs than iron ore

Cliffs high-grade iron ore pellets make the US steel industry go round

US investment bank Jefferies is the latest to do so, initiating coverage with a buy and price target of US$9 per share, up from the $6.64/share it closed at on July 6.