United States Steel Corporation
) 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
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
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
DYNAMIC MATLS (BOOM): Free Stock Analysis
SHILOH INDS INC (SHLO): Get Free Report
CIA SIDERUR-ADR (SID): Free Stock Analysis
UTD STATES STL (X): Free Stock Analysis
To read this article on Zacks.com click here.
U.S. Steel currently carries a short-term Zacks Rank #2 (Buy).
Other metal companies with a favorable Zacks Rank are
Companhia Siderurgica Nacional
Shiloh Industries Inc.
Dynamic Materials Corp.
). All of these stocks carry a Zacks Rank #1 (Strong Buy).