Cliffs Natural Resources: Why Deutsche Bank Cut Its Rating

After yesterday’s announcement that Cliffs Natural Resources (CLF) would look to exit its Bloom Lake project, Deutsche Bank’s Jorge Beristain and team slashed their rating on the struggling iron miner to Hold from Buy. They explain why: Agence France-Presse/Getty Images Stripping out [Eastern Canada iron ore] operations from 1Q15 onwards, lowers Deustche Bank’s estimated EBITDA [...]