Write to him and tell him how he is full of #$%$. firstname.lastname@example.org
Here is the complete articles.
Cliffs Natural Resources Inc. posted revenue and profit declines, but beat analyst expectations as the iron-ore miner continues to face low prices.
Cliffs has been hurt by weak demand from steelmakers, which have been grappling with low prices amid a glut of supply and a high level of less expensive imports.
Cliffs, one of the country's biggest mining companies, has continued to streamline its operations with the hope that iron-ore prices will recover in time to stave off bankruptcy. Selling, general and administrative expenses fell 27% to $22.5 million.
Net debt decreased to $2.3 billion from $2.6 billion last year.
Chairman and Chief Executive Lourenco Goncalves said Thursday that Cliffs signed deals in the quarter that are "essential" to future growth, including a multiyear supply agreement with steelmaker ArcelorMittal, a low-cost power agreement in Minnesota and a supply deal with new customer U.S. Steel Canada Inc.
For the quarter, Cliffs Natural reported a profit of $12.8 million, or 7 cents a share, compared with year-earlier profit of $60.2 million, or 39 cents a share. Revenue fell 0.4% to $496.2 million.
Analysts polled by Thomson Reuters expected per-share profit of 2 cents and revenue of $464.8 million.
The company reaffirmed its 2016 capital spending guidance of $75 million.
Shares, up 48% in the past three months, rose 1.9% to $8 in morning trading.
It was Christian Lelong and Amber Cai. They had to up their estimates as they have been wrong all year.You have to love these fools that are wrong for so long and just adjust far too late. They don't predict the future they just adjust after the fact. The weatherman that predicts yesterday's weather.
Beijing’s stimulus measures will prop up iron ore prices for a further 12 months as increased liquidity feeds through to higher steel output, Sanford C. Bernstein analysts said in a report Wednesday.
Came out this morning.
I just watched Cramer video of him loving CLF at $71 in 2012 yet he hated it at $1.50. He is a contrarian indicator.
All of the data I could find was last updated as of 3/31. Anyone know when the new data is released? As of 3/31, institutional ownership greatly increased. going to be very telling to see data as of 6/30.
Skiidady, you are as bi-polar as my ex-wife. One day you say it is going to $8 or $10 then the next day down to $2. Please make up you mind. (Not that anyone is making a trade based on your opinion)
Enjoy the ride my friends. We are continuing the move today. Anyone know the price of Iron Ore this morning?
Prices may rise 50% if La Nina rain worse than expected: Citi
Bank of America also raised forecast of Newcastle coal price
Thermal coal prices in Asia may jump as much as 50 percent if rainfall caused by La Nina is heavier than expected, further tightening the market as China cuts production, according to Citigroup Inc.
Prices at the Australian port of Newcastle, an Asian benchmark, may increase to $90 a metric ton if La Nina rainfall hinders Australian and Indonesian output, analysts led by Ed Morse wrote in a note e-mailed Monday. China’s steep production cuts are simultaneously raising demand for seaborne coal, they wrote. Prices have risen 19 percent so far this year to about $60 a ton, according to globalCOAL, following five years of declines.
Cliffs Natural Resources Inc. (NYSE: CLF) Chairman, President and Chief Executive Officer, Lourenco Goncalves issued the following statement in response to the State of Minnesota's termination of Essar Steel Minnesota's mineral leases associated with the Nashwauk, MN mine site:
"I am pleased that Minnesota Governor Mark Dayton has moved to terminate the State's existing agreement for the iron ore mineral leases at the Nashwauk mine site. This is the first step in a long-term development process that we believe holds tremendous potential for job creation on the Iron Range." Mr. Goncalves continued: "Cliffs looks forward to the opportunity to work in partnership with Governor Dayton's administration to develop the Nashwauk site as part of our future growth plans toward the production of value-added iron products in Minnesota."