Cleveland-Cliffs' Management Charts a New Course

It has been a long time since the words "growth" and "Cliffs Natural Resources" (NYSE: CLF) could be used in the same sentence. (Nor will they likely be again: Today, the company announced it has renamed itself Cleveland-Cliffs, effective immediately.) Even if there were opportunities, the company simply didn't have the ability to pursue them because of its bloated balance sheet.

Today, though, Cleveland-Cliffs is in a different place, and management wants to chart a course toward new opportunities. Here are several quotes from Cleveland-Cliffs' most recent earnings call that should help investors better understand the situation on the ground and what the company will look like several years from now.

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Source: Fool.com