Cliffs Natural Resources Stock – Quick Win: 55.52% in 1 Month

Cliffs Natural Resources Stock

On April 3rd, 2016, The I Know First algorithm gave a bullish signal of 119.76 for the ticker CLF  (Cliff Natural Resources Inc), which had a predictability indicator of 0.4 In accordance with the algorithm’s prediction, CLF spiked 55.52% in the following week.

quick win

Cliffs Natural Resources Inc. is a mining and natural resources company. The Company is a supplier of iron ore pellets to the North American steel industry from its mines and pellet plants located in Michigan and Minnesota.

It is encouraging that earnings estimates have risen in the past few weeks on the company, reflecting that sentiment on CLF is moving in the right direction. Lourenco Goncalves, Cliffs’ Chairman, President and Chief Executive Officer, said, “Cliffs’ first-quarter results clearly demonstrate how far we have come on our turnaround. As we continue to outperform our aggressive operational targets both in the United States and in Australia, we also continue to significantly reduce our debt.”

The steel market in the United States has started to show signs of a real recovery, with a direct positive impact on CLF steel clients’ order books and, consequently, a totally expected improvement in our clients’ appetite for the products they supply them.

Also, the announcement of a newly adopted supply discipline going forward by the two Australian majors, followed by a similar statement coming from their Brazilian peer, has generated a more reasonable pricing environment for sinter feed fines in the international market for iron ore, which continues to be short in lump ore.