What didn't the management team for Cliffs Natural Resources (NYSE: CLF ) unleash upon shareholders and the market in its latest release? In addition to the previously noted $1.37 billion in non-cash charges, Cliffs decided to drastically cut its dividend by 76% and issue 9 million common shares (or 6% of current outstanding shares). These issues could be long-term positives, but current investors are obviously put off by these radical actions. Get a deeper perspective on these issues and the fourth quarter overall from Motley Fool analyst Taylor Muckerman below.
A deeper dive into Cliffs Natural Resources
Cliffs Natural Resources has grown from a domestic iron ore producer into an international player in both the iron ore and metallurgical coal markets. It has performed in line with many competitors in a very cyclical industry because of several factors that are likely to remain advantageous for Cliffs' management, despite its recent poor performance. For details on these advantages and more, click here now to check out The Motley Fool's brand new premium report on the company.