Back to top

Analyst Blog

This page is temporarily not available.  Please check later as it should be available shortly. If you have any questions, please email customer support at support@zacks.com or call 800-767-3771 ext.  9339.

United States Steel Corporation’s (X - Analyst Report) Minnesota ore operations “Keetac” were conferred the Sentinels of Safety Award on Oct, 30, 2013, in Washington DC. The market reacted positively to the news and U.S. Steel’s shares rose as much as 2.4% following the announcement.

The Sentinels of Safety Award is granted to those mining operations which ensure the safety of their employees. U.S. Steel’s Minnesota Ore Operations demonstrated excellence in this field. The operations were recognized in the large open pit category for their 2012 safety record, which included an Occupational Safety and Health Administration (OSHA) recordable injury rate of 0.23.

OSHA is an initiative of the United States Department of Labor, and works to sustain safe and healthy working conditions for working men and women by setting and enforcing standards and through training, outreach, education and assistance services.

U.S. Steel’s Minnesota ore operations are located on the Mesabi Iron Range in northern Minnesota and are composed of two facilities – Minntac in Mt. Iron and Keetac in Keewatin. At these facilities, iron-bearing rock called taconite is mined and processed into iron ore pellets for use in U. S. Steel’s steelmaking facilities.

U.S. Steel released its third-quarter 2013 results recently. The company recorded adjusted net loss of $20 million or 14 cents per share in the quarter versus net income of $66 million or 41 cents a year ago. Adjusted loss excludes an after-tax non-cash goodwill impairment charge of $1.8 billion, or $12.24 per share. The results were narrower than the Zacks Consensus Estimate of a loss of 43 cents.

Including the after-tax non-cash goodwill impairment charge, net loss for the reported quarter was $1,791 million, or $12.38 per diluted share against net income of $44 million, or 28 cents per share recorded in the year-ago quarter.

Revenues for the third quarter fell roughly 11.2% year over year to $4,131 million and missed the Zacks Consensus Estimate of $4,315 million.
U.S. Steel currently carries a short-term Zacks Rank #2 (Buy).

Other metal companies with a favorable Zacks Rank are Companhia Siderurgica Nacional (SID - Analyst Report), Shiloh Industries Inc. (SHLO) and Dynamic Materials Corp. (BOOM - Snapshot Report). All of these stocks carry a Zacks Rank #1 (Strong Buy).

Please login to Zacks.com or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research

Close

Are you a new Zacks Member or a visitor to Zacks.com?

Top Zacks Features

Learn more

Start for as little as $4.50 per trade.

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
DIXIE GROUP DXYN 15.84 +7.90%
BOFL HOLDING BOFI 85.30 +4.97%
RAMBUS INC RMBS 12.31 +4.41%
VIPSHOP HOLD VIPS 148.73 +4.35%
NETFLIX INC NFLX 345.74 +4.32%