No. 1 Worst Performer: Cliffs Natural Resources
First-Half Return: -58%
What happens when your company is an iron ore and metallurgical coal producer? You get Cliffs Natural Resources (CLF), which managed to finish the first half of 2013 with the worst stock performance in the S&P 500.
And really, how could it not?
Bad enough the company is wedded to the coal industry and its myriad problems, but iron ore prices are falling as well. Indeed, CLF indicated that if the price continues to drop, it will table expansion plans at its critical Bloom Lake (Canada) production facility. But the proverbial nail in the stock-price coffin was its 76% reduction in its dividend in February.
Nothing good happened to CLF in the first half, and its hard to see light at the end of this tunnel.
Marc Bastow is an Assistant Editor at InvestorPlace.com. As of this writing, he was long AAPL and MSFT.