(Reuters) - Cliffs Natural Resources Inc, an S&P 500-listed iron ore and metallurgical coal miner, reported a drop in quarterly profit on Wednesday as lower iron ore sales weighed on its revenue.
The company's net income was $97.1 million or 66 cents a share, down from $375.8 million or $2.63, a year earlier. Revenue fell to $1.14 billion from $1.21 billion.
wake up, stock is down 70% from year ago
This is as expected and already factored in its share price. But it beats estimate and provide a fairly good outlook. Still a good buy at this level for long term.
Sentiment: Strong Buy