Cliffs Natural Resources Inc (NYSE:CLF)’s shares trading up due to Q2 positive results


Dallas, Texas 07/30/2013 (Financialstrend) – The second quarter financial results for the company’s performance had recently been reported and the stock of Cliffs Natural Resources Inc (NYSE:CLF) had turned bullish since then. The company had reported revenues for this quarter at $1.5 billion and the net income attributable to the shareholders of the company had been reported to be at $133 million or at the rate of $0.82 per basic and diluted share of the company. The revenues had been observed to have declined by 6% over the same quarter of the previous year.

It had been reported that the decline in revenues could be primarily attributed to the 11% decline in the prices of global seaborne iron ore. The prices had declined to an average level of $126 per ton for the 62% Fe fines product. Further, the company had reported cash flows generated at $414 million for the second quarter of fiscal year 2013. The operating income for the second quarter had also decreased year on year by 28% to the level of $262 million, which was primarily due to lower consolidated sales margin of the company.

The share of Cliffs Natural Resources Inc (NYSE:CLF) was bullish by 1.57% on Monday to close down for the day with $20.02 per share. The company had recorded the trading day low price of $19.27 and high price of $20.30 on Monday. For the last twelve months of trading, the low price of the stock is at $15.41 and high price of the stock is at $46.83 per share. Currently there are 153.10 million shares of the company outstanding in the market and 82% institutional ownership. The trading volume of the company on Monday was 12.16 million shares and the trading volume over the past 30 days of the company was 8.97 million shares per day. The total market value of the company is 3.06 billion.