Cliffs Natural Resources (CLF) -1.8% premarket after shares are downgraded to Underperform from...

|About: Cliffs Natural Resources Inc. (CLF)|By:, SA News Editor

Cliffs Natural Resources (CLF) -1.8% premarket after shares are downgraded to Underperform from Neutral with a $16 price target (from $24) at BAML, which notes CLF's high cost of iron ore and met coal production. The firm thinks CLF will struggle to compete with new Australia capacity but sees no reason for a liquidity panic.