Cliffs rallies as strong Q1 performance sees it back in the black

April 28, 2016

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The largest US iron-ore producer Cliffs Natural Resources has rallied as much as 35% to $5.38 a share on the NYSE on Thursday, after it said it had swung to a first-quarter profit amid sustained market improvement.
For the three months ended March 31, Cliffs recorded net income attributable to Cliffs’ common shareholders of $108-million, or $0.62 a diluted share, compared with a net loss attributable to Cliffs’ common shareholders of $773-million, or $4.26 a diluted share, recorded in the first quarter of 2015.

Category: General