Cliffs Natural Resources Inc, facing off against an activist fund that wants to replace its chief executive, reported a quarterly loss on Wednesday due to weaker commodity prices and a decline in sales volumes.The U.S.-based iron ore and metallurgical coal producer reported a net loss of $2 million, or 1 cent a share, in the three months ended in June, swinging from a profit of $133 million, or 82 cents a share, in the second quarter a year earlier.Revenue fell 26 percent in the quarter to $1.1 billion, driven by lower prices for iron ore and metallurgical coal as well as a 24 percent decrease in sales volume from the company's U.S. iron ore operations.Analysts had expected a loss of 8 cents a share, on average, according to Thomson Reuters I/B/E/S.
Cliffs Natural Resources Inc. is an international mining and natural resources company. Shares of CLF traded higher by 2.18% or $0.33/share to $15.48. In the past year, the shares have traded as low as $13.60 and as high as $28.98. On average, 5057000 shares of CLF exchange hands on a given day and today's volume is recorded at 5438831.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.38% or $0.14/share to $36.94. In the past year, the shares have traded as low as $32.87 and as high as $38.73. On average, 752783 shares of TRI exchange hands on a given day and today's volume is recorded at 968045.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.38% or $0.15/share to $39.62. In the past year, the shares have traded as low as $34.52 and as high as $42.10. On average, 592048 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 349841.
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