HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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joe

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Cliffs

posted on Mar 27, 2013 08:15AM

Cliffs Natural Resources (CLF) -11.5% premarket after shares are downgraded to Underweight with...

Wednesday, March 27, 8:02 AM ET
Cliffs Natural Resources (CLF) -11.5% premarket after shares are downgraded to Underweight with a $14 target price (down from $36) at Morgan Stanley. Credit Suisse cuts its target price to $10 from $30, saying CLF needs to raise at least $2.3B to maintain a 2.5x debt/EBITDA ratio. Goldman Sachs' removal of its Sell tag (it's now rated Neutral) isn't providing a lifeline.

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