Cliffs Natural Resources (CLF) -5.2% premarket after Goldman Sachs downgrades shares to Sell...

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

Cliffs Natural Resources (CLF) -5.2% premarket after Goldman Sachs downgrades shares to Sell with a $25 price target (from $33). The firm says CLF's decision to delay its Bloom Lake expansion and curtail some operations underscores the disadvantages for high cost producers like CLF in a relatively weak iron ore market. The firm also expects lower production volume in Canada will translate into higher costs.