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Cleveland-Cliffs (CLF) Stock Sinks As Market Gains: What You Should Know

Cleveland-Cliffs (CLF) closed at $24.01 in the latest trading session, marking a -1.48% move from the prior day.

This story originally appeared on Zacks

In the latest trading session, Cleveland-Cliffs (CLF) closed at $24.01, marking a -1.48% move from the previous day. This change lagged the S&P 500's 0.43% gain on the day.

- Zacks

Prior to today's trading, shares of the mining company had lost 2.52% over the past month. This has lagged the Basic Materials sector's loss of 0.65% and the S&P 500's gain of 2.56% in that time.

CLF will be looking to display strength as it nears its next earnings release. On that day, CLF is projected to report earnings of $2.17 per share, which would represent year-over-year growth of 5325%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.73 billion, up 247.9% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $5.88 per share and revenue of $20.57 billion, which would represent changes of +3358.82% and +284.2%, respectively, from the prior year.

Investors might also notice recent changes to analyst estimates for CLF. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 6.68% higher. CLF currently has a Zacks Rank of #1 (Strong Buy).

Looking at its valuation, CLF is holding a Forward P/E ratio of 4.14. This represents a discount compared to its industry's average Forward P/E of 9.76.

The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 220, putting it in the bottom 14% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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