Last €6.17 EUR
Change Today +0.194 / 3.25%
Volume 430.0
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cliffs natural resources inc (CVA) Snapshot

Open
€5.99
Previous Close
€5.98
Day High
€6.24
Day Low
€5.94
52 Week High
04/8/14 - €15.22
52 Week Low
12/17/14 - €4.60
Market Cap
945.7M
Average Volume 10 Days
313.1
EPS TTM
--
Shares Outstanding
153.3M
EX-Date
01/26/15
P/E TM
--
Dividend
--
Dividend Yield
5.57%
Current Stock Chart for CLIFFS NATURAL RESOURCES INC (CVA)

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cliffs natural resources inc (CVA) Details

Cliffs Natural Resources Inc., a mining and natural resources company, produces iron ore and metallurgical coal. It operates five iron ore mines that produces iron ore pellets in Michigan and Minnesota; Koolyanobbing complex situated in northeast of the town of Southern Cross, which produces lump and fines iron ore; and two metallurgical coal mines located in Alabama and West Virginia. The company also owns interests in the Decar Property situated in British Columbia; and the Labrador Trough South property located in Fermont, Québec. It sells its iron products to integrated steel companies and Asian steel producers; and metallurgical coal to integrated steel and coke producers in Europe, North America, China, India, and South America. The company was formerly known as Cleveland-Cliffs Inc. Cliffs Natural Resources Inc. was founded in 1847 and is headquartered in Cleveland, Ohio.

cliffs natural resources inc (CVA) Top Compensated Officers

Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $415.0K
Executive Vice President of Business Developm...
Total Annual Compensation: $484.1K
Compensation as of Fiscal Year 2013.

cliffs natural resources inc (CVA) Key Developments

Cliffs Natural Resources Inc. (NYSE:CLF) May Sell Coal Assets To Coronado Coal II

Lourenco Goncalves, Chairman and Chief Executive Officer of Cliffs Natural Resources Inc. (Cliffs) (NYSE:CLF) said that Cliffs is seeking to sell rest of the coal assets to Coronado Coal II LLC. Coronado Coal II is one of the potential buyers. The coal assets include the Pinnacle complex in West Virginia and Oak Grove mine in Alabama. Lourenco declined to disclose other potential buyers.

Cliffs Natural Seeks To Sell Assets

Cliffs Natural Resources Inc. (NYSE:CLF) is planning to sell its former Bloom Lake Mine in Quebec, other iron ore and chromite assets in eastern Canada and its remaining coal mines in the USA, according to a Cliffs' executive.

Cliffs Natural Resources Inc. Reports Consolidated Earnings and Production Results for the Fourth Quarter and Year Ended December 31, 2014; Provides Production Guidance for the Year 2015

Cliffs Natural Resources Inc. reported consolidated earnings and production results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported adjusted net income for the quarter of $1 per share, down 39% from fourth quarter of 2013. For the quarter, the company reported revenues of $1.3 billion decreased $231 million, or 15% from the prior year's fourth quarter.  This decrease was primarily driven by lower revenues from the Asia Pacific Iron Ore and Eastern Canadian Iron Iron Ore, where sales volumes increased by 26% and the revenue rate only decreased by 12% when compared to the prior-year quarter. Cost of goods sold decreased by 9% to $1.1 billion, primarily driven by reduced sales volumes from Wabush and cost-cutting efforts achieved across all business units through reduced headcounts, improved labor productivity, decreased spending on contractors and favorable foreign exchange rates. This decrease was partially offset by increased sales volumes from U.S. Iron Ore. The company recorded a net loss attributable to company’s common shareholders of $1.3 billion, or $8.25 per diluted share. These results include Eastern Canadian Iron Ore operating margins, asset impairment charges and other items. Excluding these items totaling $1.4 billion, Cliffs reported fourth-quarter adjusted net income of $166 million, or $1.00 per diluted share. For the fourth-quarter 2014, adjusted EBITDA was $297 million. At the end of fourth quarter of 2014, Cliffs had net debt of $2.7 billion with no drawings on its revolving credit facility. This compares to $3.0 billion of net debt at the end of the third quarter of 2014 with no drawings on the revolving credit facility. Operating loss was $1,604.4 million compared to operating income of $16.7 million a year ago. Loss from continuing operations before income taxes and equity loss from ventures was $1,638.4 million compared to $27.6 million a year ago. Loss from continuing operations was $1,332.9 million compared to $14.2 million a year ago. LBITDA was $1,514.6 million compared to EBITDA of $171.8 million a year ago. For the year, the company reported revenues of $4.6 billion. For the full year, the company recorded a net loss attributable to company’s common shareholders of $7.2 billion, or $47.29 per diluted share. The full-year results include Eastern Canadian Iron Ore operating margins, charges related to certain asset and goodwill impairments and other items. Excluding these items totaling $7.5 billion, the company reported full-year adjusted net income of $259 million, or $1.73 per diluted share. For the full-year 2014, adjusted EBITDA was $930 million. Operating loss was $9,426 million compared to operating income of $671 million a year ago. Loss from continuing operations before income taxes and equity loss from ventures was $9,584.4 million compared to income from continuing operations before income taxes and equity loss from ventures of $489.3 million a year ago. Loss from continuing operations was $8,276.4 million compared to income from continuing operations of $359.8 million a year ago. Net cash provided by operating activities was $358.9 million compared to $1,145.9 million a year ago. Purchase of property, plant and equipment was $284.1 million compared to $861.6 million a year ago. LBITDA was $8,905.1 million compared to EBITDA of $1,189.3 million a year ago. For the quarter, the company produced Long Tons of 6.2 million compared to 5.5 million in last year. For the year, the company produced Long Tons of 22.4 million compared to 20.3 million in last year. For 2015, the company expected full-year sales and production volume of approximately 22 million tons from its U.S. Iron Ore business. As previously disclosed, Cliffs does not plan to export any pellets out of the Great Lakes in 2015. Depreciation, depletion and amortization for full-year 2015 is expected to be approximately $5 per ton. Consolidated full-year 2015 depreciation, depletion and amortization is expected to be approximately $150 million. The company expects its full-year 2015 capital expenditures budget to be $125 - $150 million.

 

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