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Cleveland-Cliffs Inc (CLF.N)

CLF.N on New York Stock Exchange

5.80USD
3 Jun 2020
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Latest Key Developments (Source: Significant Developments)

Cleveland-Cliffs Announces Offering And Pricing Of Additional Senior Secured Notes Due 2025
Tuesday, 21 Apr 2020 

April 21 (Reuters) - Cleveland-Cliffs Inc ::CLEVELAND-CLIFFS INC. ANNOUNCES OFFERING AND PRICING OF ADDITIONAL SENIOR SECURED NOTES DUE 2025 TO REPURCHASE NOTES TRADING AT DISCOUNTS.CLEVELAND-CLIFFS INC - NET PROCEEDS WILL BE USED TO RETIRE APPROXIMATELY $736 MILLION OF SENIOR NOTES.CLEVELAND-CLIFFS INC - TOTAL DEBT REDUCED BY APPROXIMATELY $181 MILLION THROUGH DISCOUNT CAPTURE.CLEVELAND-CLIFFS INC - OFFERED AND PRICED ADDITIONAL $555.2 MILLION OF SENIOR SECURED NOTES DUE 2025 AT A PRICE OF 99% OF THEIR PRINCIPAL AMOUNT.  Full Article

Cleveland-Cliffs Reports Q2 Earnings Per Share Of $0.57
Friday, 19 Jul 2019 

July 19 (Reuters) - Cleveland-Cliffs Inc ::. REPORTS SECOND-QUARTER 2019 RESULTS.Q2 REVENUE $743 MILLION VERSUS REFINITIV IBES ESTIMATE OF $622 MILLION.Q2 EARNINGS PER SHARE $0.63 EXCLUDING ITEMS.Q2 EARNINGS PER SHARE $0.57.Q2 EARNINGS PER SHARE ESTIMATE $0.52 -- REFINITIV IBES DATA.CLEVELAND-CLIFFS - NEW NORMAL IN GLOBAL IRON ORE MARKET HAS STARTED TO INFLUENCE CO'S RESULTS, OFFSETTING WEAK STEEL PRICES IN UNITED STATES DURING Q2.MINING AND PELLETIZING PELLET SALES VOLUME IN Q2 OF 2019 WAS 6.2 MILLION LONG TONS, A 4 PERCENT INCREASE FROM PRIOR-YEAR QUARTER."SHOULD SEE HIGHER STEEL PRICES GOING FORWARD".FOR 2019, CLIFFS MAINTAINED ITS FULL-YEAR SALES AND PRODUCTION VOLUME EXPECTATION OF 20 MILLION LONG TONS.CLIFFS' FY 2019 MINING AND PELLETIZING CASH COST OF GOODS SOLD RATE(2 )EXPECTATION IS MAINTAINED AT $62 TO $67 PER LONG TON.NOW EXPECTS TO REACH COMMERCIAL PRODUCTION AT ITS TOLEDO HBI PLANT AHEAD OF SCHEDULE, IN FIRST HALF OF 2020.CLIFFS' 2019 TOTAL CAPITAL EXPENDITURES EXPECTATION WAS REVISED TO $650-$700 MILLION.' FULL-YEAR 2019 MINING AND PELLETIZING CASH COST OF GOODS SOLD RATE EXPECTATION IS MAINTAINED AT $62 TO $67 PER LONG TON.NOW EXPECTS TO REACH COMMERCIAL PRODUCTION AT ITS TOLEDO HBI PLANT AHEAD OF SCHEDULE, IN FIRST HALF OF 2020.COST OF GOODS SOLD IN QUARTER WAS $480 MILLION COMPARED TO $430 MILLION REPORTED IN Q2 OF 2018.  Full Article

Cleveland-Cliffs Completes Full Redemption Of Senior Notes Due 2021
Thursday, 30 May 2019 

May 30 (Reuters) - Cleveland-Cliffs Inc ::CLEVELAND-CLIFFS COMPLETES FULL REDEMPTION OF SENIOR NOTES DUE 2021.CLEVELAND-CLIFFS INC - REDEEMING IN FULL ALL OF ITS OUTSTANDING 4.875% SENIOR NOTES DUE APRIL 2021.CLEVELAND-CLIFFS INC - CLIFFS' NEAREST DEBT MATURITY DATE IS NOW IN 2024..  Full Article

Cleveland-Cliffs Inc - On March 27, Co's Unit Northshore Mining Company Received An Order From Mine Safety And Health Administration
Tuesday, 2 Apr 2019 

April 1 (Reuters) - Cleveland-Cliffs Inc ::CLEVELAND-CLIFFS INC - ON MARCH 27 CO'S UNIT NORTHSHORE MINING COMPANY RECEIVED AN ORDER FROM MINE SAFETY AND HEALTH ADMINISTRATION.CLEVELAND-CLIFFS - ORDER FROM MSHA ALLEGED LOOSE MATERIAL WAS OBSERVED FALLING FROM PARTIALLY FROZEN, BLASTED SURFACE BANK AT CO'S MINE IN MINNESOTA.CLEVELAND-CLIFFS - ORDER FURTHER ALLEGED MATERIAL HAD THAWED BECAUSE OF WARMER WEATHER TEMPERATURES, FALLEN TO AREA BELOW DUE TO UNMAINTAINED CATCH BENCH.CLEVELAND-CLIFFS - REMOVED EQUIPMENT AND RESTRICTED ACCESS TO AREA; IS CONSIDERING LEGAL OPTIONS AND MAY DISPUTE ISSUANCE OF THE ORDER.CLEVELAND-CLIFFS INC - CONDITION CITED IN ORDER NOT EXPECTED TO HAVE A MATERIAL ADVERSE IMPACT ON COMPANY'S OPERATIONS AT MINE.  Full Article

Cleveland-Cliffs Inc Q3 Earnings Per Share $1.41
Friday, 19 Oct 2018 

Oct 19 (Reuters) - Cleveland-Cliffs Inc ::CLEVELAND-CLIFFS INC REPORTS THIRD-QUARTER 2018 RESULTS AND INITIATES QUARTERLY CASH DIVIDEND.Q3 EARNINGS PER SHARE $1.41.Q3 REVENUE $742 MILLION VERSUS I/B/E/S VIEW $721 MILLION.Q3 EARNINGS PER SHARE VIEW $0.66 -- THOMSON REUTERS I/B/E/S.COMPANY BEGINS CASH DIVIDEND OF $0.20 PER SHARE ON AN ANNUALIZED BASIS, TO BE PAID QUARTERLY.CLEVELAND-CLIFFS - U.S. IRON ORE PELLET SALES VOLUME IN Q3 OF 2018 WAS 6.5 MILLION LONG TONS, UP 10 PERCENT FROM THIRD-QUARTER 2017."EXPECT CURRENT STRONG MARKET CONDITIONS TO SUPPORT OUR STRONG PROFITABILITY THROUGH NEXT QUARTER AND INTO 2019".  Full Article

USW Members Vote To Ratify 4-yr Contract With Cleveland-Cliffs
Friday, 12 Oct 2018 

Oct 12 (Reuters) - Cleveland-Cliffs Inc ::USW MEMBERS VOTE TO RATIFY FOUR-YEAR CONTRACT WITH CLIFFS.UNITED STEELWORKERS - AGREEMENT RAISES WAGES FOR WORKERS AT MICHIGAN, MINNESOTA IRON ORE MINES.UNITED STEELWORKERS - MEMBERS OF USW UNION VOTED BY 10-TO-1 MARGIN TO RATIFY 4-YEAR CONTRACT WITH CLEVELAND CLIFFS.  Full Article

Cleveland-Cliffs to Record Reversal Of Currency Translation Adjustment in Q3
Tuesday, 28 Aug 2018 

Aug 28 (Reuters) - Cleveland-Cliffs Inc ::CLEVELAND-CLIFFS - AS A RESULT OF SALE, IN Q3 CO WILL BE RECORDING A REVERSAL OF ITS CURRENCY TRANSLATION ADJUSTMENT.CLEVELAND-CLIFFS- ADJUSTMENT WILL RESULT IN POSITIVE CONTRIBUTION TO NET INCOME OF ABOUT $0.75/SHARE IN Q3.  Full Article

Cleveland-Cliffs' Nashwauk Land Acquisition Upheld In Court Ruling
Tuesday, 24 Jul 2018 

July 23 (Reuters) - Cleveland-Cliffs Inc ::CLEVELAND-CLIFFS’ NASHWAUK LAND ACQUISITION UPHELD IN COURT RULING.CLEVELAND-CLIFFS INC - EXPECTS TO BE ABLE TO UTILIZE ACQUIRED REAL ESTATE INTERESTS TO IMPLEMENT A FINANCIALLY SUSTAINABLE PLAN FOR SITE.  Full Article

Cleveland-Cliffs Posts Q2 EPS Of $0.76 From Continuing Operations
Friday, 20 Jul 2018 

July 20 (Reuters) - Cleveland-Cliffs Inc ::REPORTS SECOND-QUARTER 2018 RESULTS.Q2 EARNINGS PER SHARE $0.76 FROM CONTINUING OPERATIONS.Q2 REVENUE $714 MILLION VERSUS I/B/E/S VIEW $645.1 MILLION.Q2 EARNINGS PER SHARE VIEW $0.52 -- THOMSON REUTERS I/B/E/S.CLEVELAND-CLIFFS - INCREASED FY SALES VOLUME EXPECTATION TO 21 MILLION LONG TONS.CLEVELAND-CLIFFS - 2018 DEPRECIATION, DEPLETION AND AMORTIZATION ASSOCIATED WITH U.S. IRON ORE, CORPORATE/OTHER EXPECTED TO BE ABOUT $80 MILLION.CLEVELAND-CLIFFS - FULL-YEAR 2018 U.S. IRON ORE CASH COST OF GOODS SOLD & OPERATING EXPENSE EXPECTATION IS BEING MAINTAINED AT $58 - $63 PER LONG TON.U.S. IRON ORE PELLET SALES VOLUME IN Q2 OF 2018 WAS 6 MILLION LONG TONS, 38 PERCENT INCREASE FROM SECOND-QUARTER 2017.CLEVELAND-CLIFFS - Q2 CASH COST OF GOODS SOLD AND OPERATING EXPENSE RATE IN U.S. IRON ORE $62.32 PER LONG TON VERSUS $59.30 PER LONG TON.  Full Article

Cleveland-Cliffs Responds To Report Issued By Mesabi Metallics Company
Wednesday, 18 Jul 2018 

July 17 (Reuters) - Cleveland-Cliffs Inc ::CLEVELAND-CLIFFS INC - IS RESPONDING TO A REPORT ISSUED BY A COMPANY CALLED MESABI METALLICS COMPANY LLC.CLEVELAND-CLIFFS - NEITHER CO NOR HIBBING TACONITE JV HAS ANY IRON ORE AGREEMENT WITH MESABI OR ANY OTHER ENTITY OWNED OR OPERATED BY TOM CLARKE.CLEVELAND-CLIFFS - THERE HAVE BEEN NO DISCUSSIONS OR COMMUNICATION BETWEEN LOURENCO GONCALVES, CHAIRMAN, PRESIDENT AND CEO OF CLIFFS, AND TOM CLARKE.CLEVELAND-CLIFFS - ISSUES REGARDING OWNERSHIP AND MINING RIGHTS AT NASHWAUK SITE IN MINNESOTA CURRENTLY BEING LITIGATED IN BANKRUPTCY COURT.CLEVELAND-CLIFFS INC - WORKING WITH ITS LITIGATION COUNSEL TO CONSIDER ADDITIONAL LEGAL ACTION AGAINST MESABI METALLICS AND CLARKE.  Full Article

BRIEF-Cleveland-Cliffs Says CEO Lourenco Goncalves' FY 2019 Total Compensation Was $16.1 Mln- SEC Filing

* CLEVELAND-CLIFFS INC SAYS CEO LOURENCO GONCALVES' FY 2019 TOTAL COMPENSATION WAS $16.1 MILLION VERSUS $15.4 MILLION IN FY 2018 - SEC FILING