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Cliffs Natural Resources Inc. Message Board

  • marymbobh marymbobh Dec 30, 2013 2:56 PM Flag

    Why so much bearish sentiment?

    Cliffs has had respectable earnings for the last 3 quarters and is forecast to do the same for 4th qtr. Yet, it's trading at a pe of only 9 while paying a dividend of $0.15 (2.5%) and there are an amazing 40+% of its shares sold short with a very high daily volume of 5%+. Moreover, iron ore prices have been solid for the last 6 months and are even edging up a little. What am I missing? Why isn't Cliffs trading at $30 pps and why is there so much bearish sentiment as indicated by the huge short positions? Seems like an opportunity. The only negative I can see is the uncertainty of the political situation in North Korea that has a chance of leading to war but even that seems like a small risk given the history and it also seems unlikely that China would throw in with North Korea in such a conflict.

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