- Cliff Natural Resources' (CLF +4.3%) Q4 earnings were impressive but the beaten-down miner needs higher iron ore prices before it can really recover, RBC says as it maintains its Sector Perform rating a $8 price target.
- Cost-cutting measures helped CLF enjoy a solid Q4 despite weak market prices for iron ore and met coal, the firm says, but if current commodity prices persist, CLF's plans to repurchase debt and possibly shares could be hampered by weak free cash flow beyond 2015.
Cliffs Natural can't really recover without higher iron ore prices, RBC says
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Symbol | Last Price | % Chg |
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CLF | - | - |
Cleveland-Cliffs Inc. |