| Cliffs Natural's (CLF) Q4 Loss Narrower than Expected | |
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Cliffs Natural Resources Inc. CLF is a leading mining and natural resources company. Cliffs is the largest producer of iron ore pellets in North America. Cliffs sees continued economic growth in the U.S. to support domestic steel production and demand for steelmaking raw materials. Steel demand in the U.S. is expected to be backed by strength in the automotive sector and a recovering housing market. Cliffs is boosting its mining and transportation capacity globally. It has also employed a global exploration program, which is aimed at identifying and capturing new world-class projects. Let’s have a quick look at this Ohio-based company’s fourth-quarter 2015 release.
Estimate Trend & Surprise History
Investors should note that Cliffs has beaten the Zacks Consensus Estimate in 3 of the trailing 4 quarters with an average beat of around 155.27%.
Earnings
Cliffs’ adjusted loss of 14 cents per share for the fourth quarter was narrower than the Zacks Consensus Estimate of a loss of 32 cents.
Revenues
Cliffs reported revenues of $476 million. That missed the Zacks Consensus Estimate of $508 million.
Key Stats/Developments to Note
For 2016, Cliffs expects selling, general and administrative (SG&A) expenses to be about $95 million, a $15 million reduction from 2015 level.
Cliffs expects 2016 capital expenditures to be $50 million, a considerable reduction from 2015 level of $83 million. The expected reduction is driven by the sale of the remaining coal assets as well as spending discipline in the company’s U.S. Iron Ore business.
Zacks Rank
Currently, Cliffs has a Zacks Rank #3 (Hold), but that could change following its earnings report which was just released.
Market Reaction
Cliffs’ shares were down around 8% in the pre-market trading. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on Cliffs’ earnings report!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CLIFFS NATURAL (CLF): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
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CLIFFS Natural Resources
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PRODUCTEUR |
CODE : CLF |
ISIN : US18683K1016 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
CLIFFS Natural Res est une société de production minière de fer basée aux Etats-Unis D'Amerique. CLIFFS Natural Res est productrice de fer, de charbon au Bresil, au Canada et en Australie, et détient divers projets d'exploration au Canada. Ses principaux projets en production sont WABUSH MINE, EMPIRE AND TILDEN MINES, HIBBING TACONITE, NORTHSHORE MINE, UNITED TACONITE, OAK GROVE MINE, GREEN RIDGE MINE et PINNACLE MINE au Canada, AUSTRALIAN IRON ORE et SONOMA en Australie et AMAPA au Bresil et ses principaux projets en exploration sont MT JACKSON J1 en Australie et DIAGNOS, WAWA, FREEWEST, MC FAULD'S LAKE, MACFADYEN, WAWA CLAIMS et BIG DADDY au Canada. CLIFFS Natural Res est cotée aux Etats-Unis D'Amerique, en Allemagne et en France. Sa capitalisation boursière aujourd'hui est 5,3 milliards US$ (5,0 milliards €). La valeur de son action a atteint son plus haut niveau récent le 16 mai 2008 à 99,17 US$, et son plus bas niveau récent le 15 janvier 2016 à 1,20 US$. CLIFFS Natural Res possède 297 400 968 actions en circulation. |