Cliffs Natural Resources Strong As Steel

Shares of Cliffs Natural Resources were up 4.5% late Tuesday after Deutsche Bank lifted the cost aim on the stock, citing higher-than-expected iron ore settlements and constructional improvements at the Cleveland-based company. Deutsche Bank researcher Jorge Beristain reiterated his "buy" rating and lifted his cost aim to $85 per share, up from $65. According to the analyst, the association will go on to benefit on "increasing intensity for higher-than-expected annual iron ore settlements and Cliffs passing from one to another to tellurian diversified miner status."emailprintreprintnewslettercommentssharedel.icio.usDigg It!yahooFacebookTwitterRedditrssforbes:http://www.forbes.com/2010/03/16/cliff-natural-resources-markets-equities-mining.html?partner=yahoobuzzBeristain is quite bullish about Cliffs Natural Resources" ( CLF - news - people ) constructional improvements together with "increasing general iron ore exposure, liberation at the core spark commercial operation and the longer-term diversification in to chromium agur."While iron ore prolongation is what drives opening at Cliffs bread and butter, Beristain says that augmenting spark prolongation could lead to a "more suggestive illustration of this new business" with spark representing as most as 15% of sum sales for 2010.Though the researcher is keeping his 2010 EPS foresee unvaried at $5.55 per share, he is raising his 2011 foresee to $7.23 per share. Analysts polled by Thomson Reuters design North Americas largest iron ore particle writer to consequence $4.64 per share in 2010 and $6.33 per share in 2011.Shares of Cliffs Natural Resources trekked to $66.97, their top cost in some-more than a year, afterwards slid behind to a benefit of $2.87, or 4.5%, to $66.01 in Tuesday midday trading. ,,2010/03/16/cliff-natural-resources-markets-equities-mining.htmlOther steel mining companies were rising on Tuesday, too. BHP Billiton ( BBL - news - people ) jumped 75 cents, or 1.1%, to $66.59; United States Steel ( X - news - people ) ticked up $1.05, or 1.7%, to $61.74; and Vale ( VALE - news - people ) gained 53 cents, or 1.8%, to $30.69.
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