Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
The NYSE-listed stock of US iron-ore and coal producer Cliffs Natural Resources on Monday rose after the company beat earnings expectations despite shuttering its Eastern Canadian operations and grappled with sluggish demand and prices for both commodities. Excluding one-off items such as negative Eastern Canadian iron-ore operating margins and asset impairment charges totalling $1.2-billion, Cliffs reported net income of $166-million, or $1 a share, beating average Wall Street analyst expectations of earning $0.13 a share for the three months ended December.
The NYSE-listed stock of US iron-ore and coal producer Cliffs Natural Resources on Monday rose after the company beat earnings expectations despite shuttering its Eastern Canadian operations and grappled with sluggish demand and prices for both commodities. Excluding one-off items such as negative Eastern Canadian iron-ore operating margins and asset impairment charges totalling $1.2-billion, Cliffs reported net income of $166-million, or $1 a share, beating average Wall Street analyst expectations of earning $0.13 a share for the three months ended December.
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