Cliff Natural Resources stocks post gain in 1Q – Beckley Register-Herald

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Cliffs Natural Resources earned $.62 per share in the first quarter on revenue of $275 million, the company said in a recent financial filing.

Wall Street oracles expected the Cleveland-based coal company to lose $.10 per share on revenue of $271 million.

Lourenco Goncalves, Cliffs’ 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.”

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In December 2015, Cliffs Natural Resources sold its coal mines in West Virginia, including Pinnacle, to West Virginia-based Seneca Coal Resources.

— Daniel Tyson