Cliffs Natural downgraded to Underperform from Market Perform at Wells Fargo Wells Fargo downgraded Cliffs Natural Resources to Underperform citing weakening iron ore spot prices and the company's high cost structure. Wells lowered its price target range for shares to $12-$14 from $19-$24. Shares of Cliffs closed yesterday down 48c to $19.55.
Cliffs Natural finalizes energy agreement with We Energies in U.P. of Michigan Cliffs Natural (CLF) has finalized an interim power agreement with Wisconsin Energy's (WEC) utility energy segment We Energies for its Michigan operations. The company stated that this is "one key step in a series of contemplated short and long-term agreements that are essential to the viability of its iron ore mines in the Upper Peninsula".