Wall Street Fundamentals Releases New In-Depth Stock Reports on CLF, MT, RIO and VALE
Iron ore miners have struggled in recent months as prices for the commodity have experienced a steady decline. Weak economic data from China and ample supplies have caused iron ore prices to fall to a 7 month low Thursday, down approximately 30 percent since February’s high. "The market is flush with product
at the moment," said James Wilson, a resources analyst at RBS Morgans. "The pricing power has switched from the iron-ore miners to the steel mills."
Cliffs Natural Resources Inc. (NYSE: CLF) shares traded in the range of $18.55 to $19.20 Thursday before settling to close at $18.73. The stock appears to be facing significant resistance at $20.69 with some support at $18.14. The company reported revenues for the first quarter of 2013 were $1.1 billion, a
year-over-year decrease of 6 percent. Cliffs Natural Resources shares have fallen approximately 51 percent in 2013.
More information on Cliffs Natural Resourcesand access to the free equity report can be found at: www.WallStreetFundamentals.com/CLF
ArcelorMittal (NYSE: MT) shares traded in the range of $13.05 to $13.19 Thursday before settling to close at $13.06. The stock appears to be facing some resistance at $14.14 with significant support at $12.91. The company’s goal is to achieve a production capacity of 84 million tons of iron ore by 2015. ArcelorMittal shares have fallen approximately 25 percent in 2013.
More information on ArcelorMittaland access to the free equity report can be found at: www.WallStreetFundamentals.com/MT
Rio Tinto plc (NYSE: RIO) shares traded in the range of $43.78 to $44.63 Thursday before settling to close at $44.54. The stock appears to be facing significant resistance at $44.92. The company reported record global iron ore production of 61 million tons for the first quarter of 2013 (Rio Tinto share 48 million tons).
Rio Tintoshares have fallen approximately 23 percent in 2013.
More information onRio Tintoand access to the free equity report can be found at: www.WallStreetFundamentals.com/RIO
Vale SA (NYSE: VALE) shares traded in the range of $14.81 to $15.30 Thursday before settling to close at $15.10. The stock appears to have significant resistance at $16.44. The company is scheduled to release its second quarter 2013 production reported on Wednesday, July 24th. Vale shares have fallen approximately 28 percent in 2013.
More information onVale SAand access to the free equity report can be found at: www.WallStreetFundamentals.com/VALE
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Disclaimer:
Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. We accept no liability for any losses arising from an investor's reliance on or use of this report. This report is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Certain information included herein is forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. Such forward-looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. Wall Street Fundamentals has no financial relationship with any company whose stock is mentioned in this release.
Contact: Wall Street Fundamentals Website: www.WallStreetFundamentals.com Email: editor@wallstreetfundamentals.com