surf.. with all due respect, I have tough time defending you. I know it doesn't take a rocket scientist to fix this company but MNGT needs to do it and tell the MEDIA how they will fix it.. More cost cutting, cut pref. divy, sale or partnership for BL, expansion of USIO operations and making LT new contracts with existing customers. Get together with Steel companies and fight hard for excessive steel imports. Speaker Boehner is from Cincy , OH a mere 200 miles from Cleveland. LG should drive down there with his Steel buddies and make a case privately and push also for infrastructure of $300B-$400B. MNGT MUST BECOME PRO- ACTIVE on all these issues. This is a one hell of a great company and don't let it die. This stock deserves to be around $8 atleast
It seems like a NEVER ending problems for CLF and its share holders. Good earnings of last 3 QTRs and huge cost cutting in CapEX and SG&A have not helped. .Its all about how Shorts are scaring the investors solely based on the total debt which CLF is able to service even when SB IO price went down to $47. Both APIO and USIO operations are profitable and we may know something on BL Bids in a little more than 2 weeks. I think the fault lies with the MNGT. I am NOT sure if its deliberate or CLF just will not defend against the stock price erosion like Elon Musk of Tesla or Bazo of AMZN do by going to MEDIA all the time.
lishe ..I don't know what would happen to it.. Do you have any other explanation for a huge drop in the stock price today? The only other thing I can think of is Q-2 E. .. may have leaked out to someone and may Not be good at all.
WOW!! down almost 10% @ $4.32. They must sell BL for any best bid if more than one bids and get out of 2 remaining coal mines ASAP, reduce DEBT as much as possible and just Concentrate on US IO operations. Forget Building DRI plant right now. Cut CapEx down to under $50 mil and SG&A under $80 mil and close down IR Dept. except a secretary to take calls, and totally downsize every which way and Cut interest , travel any other cost and report big earnings and prove to WS that CLF is well and alive. Only then Cliffs has any hope.
haha!! Shouldn't mining stocks be going up now that Supreme Court ruled against EPA on Mining and Coal Plants Modification at a huge cost? surf .. do you know today's Coal price? Hope you are right on good buying opportunity but I can't trust this stock and I have all I can handle right now.
As much as I want, How can I Defend it? Even Supreme Court ruled against EPA's new requirements on Plants emission Overhaul for better environment because of higher modification cost. As a result ,Coal price moved up and MET coal must have also gone up a little . But CLF gets NO F* respect.
Anyone has the latest Coal prices?
Hope earnings better be good and BL brings in a decent dough.
Also Supreme Court ruled AGAINT EPA 's decision for Coal Mines to comply with expensive Modifications for clean air as EPA didn't take into consideration the huge cost involved in the plants' modifications. Coal commodity price went up stocks went up as a result of it.This should also help MET Coal price too
believe_....you are a real idiot. Cliffs is a healthy company that made money last 3 QTRs since LG is there and he will again report Good earnings on 7/22 for Q-2. So just go away. You know nothing .
surf.. Lets NOT put the cart before the horse. I thing much of the cash from BL sale will go to reduce the debt.. I can bet on it and may be 20% or so of cash may be used to buyback cheap shares or discounted bonds or both. But First, lets see if there is a sale and if it is, then how much CLF will get it before jumping on any guesses.
bill ...you dumb #$%$.. it means CLF will be able to reduce debt at least under $2.0 B from BL sale. Any reduction in debt is very good news and will move the stock price up.