Cleveland-Cliffs (CLF) closed the most recent trading day at $11.48, moving +0.79% from the previous trading session. The stock's performance was ahead of the S&P 500's daily loss of 0.01%. At the same time, the Dow lost 0.37%, and the tech-heavy Nasdaq gained 0.41%.
Shares of the mining company have appreciated by 9.31% over the course of the past month, outperforming the Basic Materials sector's gain of 7.95% and the S&P 500's gain of 4.88%.
Market participants will be closely following the financial results of Cleveland-Cliffs in its upcoming release. The company plans to announce its earnings on February 24, 2025. The company's upcoming EPS is projected at -$0.56, signifying a 1020% drop compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $4.31 billion, indicating a 15.62% decline compared to the corresponding quarter of the prior year.
It is also important to note the recent changes to analyst estimates for Cleveland-Cliffs. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 124.78% downward. Cleveland-Cliffs presently features a Zacks Rank of #5 (Strong Sell).
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 162, putting it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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