Why Cliffs Natural Resources (CLF) Stock Continues To Slump Today

NEW YORK (TheStreet) -- Shares of Cliffs Natural Resources Inc. (CLF) are lower by 3.58% to $11.03 in early afternoon trading on Friday, as the stock continues to decline from yesterday, after it was announced the quarterly benchmark price for metallurgical coal fell to a six year low for the fourth quarter, Bloomberg Buisnessweek reported.

Doyle Trading Consultants LLC. issued a report stating that Chinese demand for the material needed for steel making declined, resulting in the fourth quarter price of $119 per metric ton, a decrease of one dollar from the previous quarter, Businessweek added.

Other coal stocks falling today include: Peabody Energy Corp. (BTU) , lower by 1.67% to $12.09, and Arch Coal Inc. (ACI) , down by 2.31% to $2.11.

Separately, TheStreet Ratings team rates CLIFFS NATURAL RESOURCES INC as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:

"We rate CLIFFS NATURAL RESOURCES INC (CLF) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its generally disappointing historical performance in the stock itself, unimpressive growth in net income, poor profit margins, weak operating cash flow and generally high debt management risk."

If you liked this article you might like

The President Must Show 'America First' Isn't 'America Alone': Market Recon

The President Must Show 'America First' Isn't 'America Alone': Market Recon

Masco, Diplomat Pharmacy, Vail Resorts: 'Mad Money' Lightning Round

Masco, Diplomat Pharmacy, Vail Resorts: 'Mad Money' Lightning Round

What it Takes to Power This Bull: Cramer's 'Mad Money' Recap (Thursday 11/30/17)

What it Takes to Power This Bull: Cramer's 'Mad Money' Recap (Thursday 11/30/17)

These Stocks Are Changing Course

These Stocks Are Changing Course

Insiders Are Loading Up on Kite Pharma, Cliffs Natural Resources and More

Insiders Are Loading Up on Kite Pharma, Cliffs Natural Resources and More