Dallas, Texas 07/11/2013 (Financialstrend) – Significant changes are coming to the executive composition of Cliffs Natural Resources, Inc. (NYSE: CLF), a company that over the last 12 months has seen its stock lose nearly two-thirds of its value, experiencing some serious problems with a big investment in Canada. The Cleveland-based producer of iron ore and metallurgical coal said that Joseph Carrabba has informed the Cliffs board of his plans to retire as president and chief executive officer by December 31. In addition, Cliffs said Laurie Brlas, its executive president and vice president of global operations has retired and is leaving the company, effective immediately. As announced previously, the Company aims to report its unaudited 2013 second quarter financial results after the U.S. market close on Thursday, July 25, 2013. On Friday, at 10:00 am, July 26, 2013 ET, Cliffs announced to conduct a live conference call with institutional investors and securities analysts to discuss the financial results. Interested parties are invited to listen online at www.cliffsnaturalresources.com. Participants on the call will include the executive vice president and chief financial officer, Mr. Carrabba, and the director of investor relations, Jessica Moran.
Cliffs Natural Resources, Inc.’s (NYSE:CLF) share price increased by 1.77% on Wednesday and closed at $16.68 per share for the day. Intraday prices for the stock touched a low of $16.26 and a high of $17.45 per share. Trading volume stood at 12.10 million shares on Wednesday, with an average one of 10.06 million per day of trading. Cliffs Natural Resources, Inc. (NYSE:CLF) currently has a 52-week low price of $15.41 and a 52-week high price of $48.17 per share. The market cap is $2.57 billion with 153.83 million shares outstanding and 82% of institutional ownership.