All it is doing is going down down and more down for NO reason now. Balance sheet is good..cash flow is adequate with dividend cut , and iron ore prices are skyrocketing and JMP upgraded this stock.. so what gives? It should atleast get into low $30's . Instead , it keeps going down in good as well as in bad market.
It is option expiration today and CLF is one of the most manipulated stocks. Price will be set at $26.50. But nevermind : Citibank (who were part of the syndicate for the share placement has a target of $28 : in their analysis they said that if iron ore price is $150 CLF should earn $5/share !!!! Iron ore price is since the beginning of the year above $155 === in 2 months time they earned $5/12*2 = 83 cts per share which is more then the full year citi gave for 2013 (79 cts per share ) i.e. UPGRADES will soon come !!!!