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Is This the Long-Awaited Turnaround at Cliffs Natural Resources?

Cliffs Natural Resources Inc. (NYSE: CLF) reported third-quarter 2015 results before markets opened Thursday. The iron ore and coal miner posted a net loss per share of $0.10 on revenues of $593 million. In the same period a year ago, the company reported a loss per share from continuing operations of $38.49 on revenues of $980 million. The consensus estimate called for a net loss of $0.23 per share on revenues of $591.97 million.

Overall, Cliffs reported net profit of $10.6 million, compared with a year-earlier loss of $5.89 billion. The company posted earnings per share of $0.19 from continuing operations in the third quarter, compared with a loss of $1.89 in the third quarter of 2015.

CEO Lourenco Goncalves said:

Our performance this past quarter illustrates how far we have come in our turnaround story. We have been able to deliver significant...


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