Cleveland-Cliffs (CLF) Stock Moves -0.15%: What You Should Know
In the latest market close, Cleveland-Cliffs (CLF) reached $12.98, with a -0.15% movement compared to the previous day. This change was narrower than the S&P 500's 0.96% loss on the day. Elsewhere, the Dow lost 0.94%, while the tech-heavy Nasdaq lost 1.18%.
Coming into today, shares of the mining company had gained 14.03% in the past month. In that same time, the Basic Materials sector gained 8.15%, while the S&P 500 gained 4.3%.
The investment community will be paying close attention to the earnings performance of Cleveland-Cliffs in its upcoming release. On that day, Cleveland-Cliffs is projected to report earnings of -$0.28 per share, which would represent a year-over-year decline of 151.85%. Simultaneously, our latest consensus estimate expects the revenue to be $4.77 billion, showing a 14.84% drop compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.15 per share and revenue of $20.07 billion. These totals would mark changes of -114.02% and -8.75%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for Cleveland-Cliffs. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 last 30 days, the Zacks Consensus EPS estimate has moved 478.26% lower. Cleveland-Cliffs is currently sporting a Zacks Rank of #3 (Hold).
The Mining - Miscellaneous industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 204, placing it within the bottom 20% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CLF in the coming trading sessions, be sure to utilize Zacks.com.
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Cleveland-Cliffs Inc. (CLF) : Free Stock Analysis Report