Home / Eco-Finance / Cliffs Natural Resources (NYSE:CLF) Signs A New Long-Term Commercial Contract With ArcelorMittal (MT)- Great Plains Energy (NYSE:GXP), Suncor Energy (NYSE:SU)

Cliffs Natural Resources (NYSE:CLF) Signs A New Long-Term Commercial Contract With ArcelorMittal (MT)- Great Plains Energy (NYSE:GXP), Suncor Energy (NYSE:SU)

Cliffs Natural Resources Inc. (NYSE:CLF) [Trend Analysis] luring active investment momentum, shares an increase 39.41% to $4.28. Cliffs Natural Resources Inc. (CLF) reported that it has signed a new long-term commercial contract with ArcelorMittal USA LLC (MT) to supply tailor-made iron ore pellets for coming ten years through 2026. The firm articulated that new contract will restore two existing agreements expiring in December 2016 and January 2017, and fill the entirety of ArcelorMittal’s pellet purchase requirements from the previous contracts.

The new commercial contract comprises ArcelorMittal’s total purchases of iron ore pellets from Cliffs up to 10 million long tons and will preserve Cliffs’ current position as ArcelorMittal USA’s sole outside supplier of pellets. For that reason, Cliffs will persists to be sole pellet supplier of ArcelorMittal’s Indiana Harbor West and Cleveland Works steelmaking facilities, at the same time as maintaining current level of pellet supply to ArcelorMittal’s Indiana Harbor East facility.

Cliffs reported that it anticipates an improvement in overall U.S iron ore realized revenues per ton in 2017, when compared to the company’s current guidance for 2016, based on current market levels. The total volume of 45.92 Million shares held in the session was surprisingly higher than its average volume of 10348.68 shares. EPS estimates indicating constrictive facts, the current year from sell-side analysts, Price to current year EPS stands at -90.50%, and looking further price to next year’s EPS is -163.00%. While take a short look on price to sales ratio, that was 0.45 and price to earnings ratio of 15.45 attracting passive investors.

Several matter pinch shares of Great Plains Energy Incorporated (NYSE:GXP) [Trend Analysis], as shares plunging -5.87% to $29.18 with a share volume of 12.76 Million. Great Plains Energy Inc. (GXP) released that a definitive contract to takeover Westar Energy, Inc. (WR) in a combined cash and stock deal with an enterprise value of approximately $12.2 billion. This includes total equity value of approximately $8.6 billion in total stock and cash consideration and the assumption of approximately $3.6 billion debt.

According to transaction terms, Westar shareholders will attain $60 per share of total consideration for each share of Westar common stock, consisting of $51.00 in cash and $9.00 in Great Plains Energy common stock. This is subject to a 7.5 percent collar based upon the Great Plains Energy common stock price at the time of the closing of the transaction. Great Plains Energy expects the acquisition will be neutral to earnings-per-share in the first full calendar year of operations and significantly accretive thereafter. The stock is going forward its 52-week low with 25.88% and moving down from its 52-week high price with -10.11%. To have technical analysis views, liquidity ratio of a company was calculated 0.70 as evaluated with its debt to equity ratio of 1.16. The float short ratio was 3.16%, as compared to sentiment indicator; Short Ratio was 3.14.

Shares of Suncor Energy Inc. (NYSE:SU) [Trend Analysis] runs in leading trade, it moving up 0.40% to traded at $27.65. The firm has price volatility of 1.90% for a week and 2.99% for a month. Its beta stands at 1.59 times. Suncor Energy Inc. (SU) recently released that it has started safe and staged restart of its operations near the fire-ravaged community of Fort McMurray, Alberta. In a statement, Canadian crude-oil producer reported that start-up activities are well underway at Base Plant and the MacKay River in situ facility.

The firm anticipates initial production to commence by the end of this week, subject to conditions in the region. Suncor’s assets Are safe and all sites have enhanced fire mitigation and protection. Also, the region experiences improved conditions with cooler weather and several days of precipitation. Narrow down four to firm performance, its weekly performance was 4.89% and monthly performance was -5.86%. The stock price of SU is moving up from its 20 days moving average with 3.25% and isolated positively from 50 days moving average with 0.48%.

About Devon Leftovich

Devon Leftovich is an entrepreneur. He has been writing and editing professionally for over six years. He is admin editor and senior content writer of SWR. However, he has determined to give investors something rare, a dignified partner who can manage money with integrity and a clear conscience about the degree of due diligence behind investment decisions. He said, "I love the financial world because it is like one big puzzle and I hope we the SWR help each other out to solve the puzzle to help us realize our dreams." Interests: Analysis of different Companies; including news and analyst rating updates. He performs analysis of Companies and publicizes important information for investor/traders community. Stocks long-term and short-term holding views, Tech Stocks

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