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The most recent trading session ended with Cleveland-Cliffs (CLF) standing at $10.09, reflecting a -1.75% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily gain of 0.88%. On the other hand, the Dow registered a gain of 1.24%, and the technology-centric Nasdaq increased by 0.65%.
The the stock of mining company has risen by 9.61% in the past month, leading the Basic Materials sector's gain of 1.03% and the S&P 500's gain of 1.17%.
Investors will be eagerly watching for the performance of Cleveland-Cliffs in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on February 24, 2025. The company's upcoming EPS is projected at -$0.50, signifying a 900% drop compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $4.37 billion, reflecting a 14.49% fall from the equivalent quarter last year.
Any recent changes to analyst estimates for Cleveland-Cliffs should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 233.33% fall in the Zacks Consensus EPS estimate. Cleveland-Cliffs is currently a Zacks Rank #3 (Hold).
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 142, finds itself in the bottom 44% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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