Cliffs Natural Resources Inc (NYSE:CLF) stock has gained a little more than 5% so far this week. Bidness Etc’s technical analysis reveals a continuation of the bullish trend in the short-term, based on which we suggest a cautious buying position on the stock.
ByAlbert Alfonso:On February 12, Cliffs Natural Resources (CLF) reported its Q4 and FY 2012 results. In that report, Cliffs Natural Resources announced a 76% reduction of its quarterly dividend, to $0.15 per share, from its previous level of 0.625 per share.
By Todd Denning:
Cliffs Natural Resources (CLF) is facing increased pricing pressure as the demand for coal and iron ore falls globally. The big question going forward is what will happen in China and Europe in the next six to eighteen months. Will demand pick up and iron ore prices stabilize or will demand and prices fall?
MONTREAL — Idled Quebec iron ore mines, railways and port facilities, are about to be put up for sale as part of a court-supervised exit from eastern Canada by Cliffs Natural Resources.
The Cleveland-based miner’s subsidiaries, which filed for creditor protection in January, are seeking a Quebec court’s permission to solicit interest next month in the Bloom Lake mine, the Wabush Mine, and related port and rail assets in Quebec and Labrador, according to a motion filed by monitor FTI Consulting Canada.
CLEVELAND — Cliffs Natural Resources Inc. (NYSE:CLF) says it may close the Bloom Lake mine near Fermont, Que. at a cost of up to $700 million, and exit its iron ore operations in Eastern Canada.
The mine is about 975 kilometres northeast of Quebec City and 30 kilometres southwest of Labrador City, N.L., in an area known for iron ore deposits.
Cleveland-based Cliffs says its Quebec subsidiary and Bloom Lake partners recently lost an arbitration claim against a former customer, which had terminated a sales agreement in August 2011.
Under pressure from an activist shareholder, Cliffs Natural Resources Inc said on Tuesday it will slash capital spending, forgo a planned expansion at a key Canadian mine and shut another mine in Canada, cutting about 500 jobs.
Cliffs, a Cleveland-headquartered iron ore and coal producer, said it plans to reduce its capital spending in 2014 by more than 50% to between $375 million and $425 million as it cuts back its Bloom Lake Mine expansion and idles production at its Wabush Mine.
By Hugh Fan:
In this article I analyze Cliffs Natural Resources (CLF), an iron ore and coal mining company. I will show that investors overreacted to several negative headwinds around mining companies and Cliffs. After conducting a thorough financial statement analysis, I conclude that Cliffs' stock valuation is very attractive and has the potential to double within 12 months.
Cliffs Natural Resources (CLF) holds the distinction of being the largest producer of iron ore pellets in North America. It is also a major supplier of direct-shipping lump and fines iron ore out of Australia and also a significant producer of metallurgical coal.
Cliffs Natural Resources (CLF) is an international mining and natural resources company. It is the largest producer of iron ore pellets in North America and a major supplier of direct-shipping lump and fines iron ore out of Australia. It is also a significant producer of metallurgical coal.