Cliffs Natural Resources (NYSE:CLF) has hit a pretty rough patch this year. The entire steel industry has been hit hard so far, but both Morgan Stanley and Credit Suisse have downgraded Cliffs recently over fears of debt load. The combined effect of these events has been enough to drag the stock down 73% over the past year. While early Q1 results from Alcoa (NYSE:AA) have given a little encouragement to the industry, Cliffs still has a long way to go to in order to get back to where it was a year ago.

With the company's stock trading at 70% of tangible book value, this could be a great time to get in with this steel specialist. In this video, contributor Tyler Crowe explains how the concerns of the debt load may be a little overplayed, and how the long-term outlook for steel demand is promising enough that this temporary blip might not be worrisome for long-term investors.

Motley Fool contributor Aimee Duffy has no position in any stocks mentioned. Motley Fool contributor Tyler Crowe has no position in any stocks mentioned. You can follow them both on Twitter @TMFDuffy and @TylerCroweFool, respectively.

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