...and this article from Streetinsider.com notes that Cliffs over the "longer term continues to dedicate resources to develop a tier 1 ferrochrome operation by 2016 that could generate annual revenues exceeding $1 bln with +50% EBITDA margin".

...think about that before accepting $0.16 a share

(...unless they have another ferrachrome property, in which case I would feel pretty stupid)

Citi Reiterates a 'Buy' on Cliffs Natural Resources (CLF); Thoughts Post Investor Meetings

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Citi reiterates a 'Buy' on Cliffs Natural Resources Inc. (NYSE: CLF), price target $90.

Citi analyst says, "We hosted investor meetings with CLF’s Chairman/CEO Joe Carrabba and IR Steve Baisden earlier in the week. While management is aware of concerns regarding Europe and China, they have yet to see any signs of a slowdown. From a volume standpoint, CLF is sold out of iron ore for the remainder of 2010 in both North America and Australia."

"Near term, the company is expanding its met coal capacity to 5 mln tons in 2011 compared to current capacity of 3 mln tons, and longer term continues to dedicate resources to develop a tier 1 ferrochrome operation by 2016 that could generate annual revenues exceeding $1 bln with +50% EBITDA margin."

To see all the upgrades/downgrades on shares of CLF, visit our Analyst Ratingspage.

Cliffs Natural Resources Inc. (Cliffs), formerly Cleveland-Cliffs Inc, is an international mining and natural resources company