Cleveland-Cliffs (CLF) Stock Sinks As Market Gains: Here's Why

Cleveland-Cliffs (CLF) closed the latest trading day at $7.54, indicating a -0.26% change from the previous session's end. The stock fell short of the S&P 500, which registered a gain of 0.01% for the day. Elsewhere, the Dow lost 0.22%, while the tech-heavy Nasdaq added 0.32%.Shares of the mining company witnessed a loss of 12.2% over the previous month, trailing the performance of the Basic Materials sector with its gain of 4.05% and the S&P 500's gain of 5.2%.Analysts and investors alike will be keeping a close eye on the performance of Cleveland-Cliffs in its upcoming earnings disclosure. The company is predicted to post an EPS of -$0.56, indicating a 609.09% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $5.04 billion, indicating a 1.02% decline compared to the corresponding quarter of the prior year.In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$1.51 per share and a revenue of $19.52 billion, indicating changes of -106.85% and +1.74%, respectively, from the former year.Investors might also notice recent changes to analyst estimates for Cleveland-Cliffs. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 71.38% decrease. Cleveland-Cliffs is currently a Zacks Rank #3 (Hold).The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 55, putting it in the top 23% of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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.Don’t Miss Out on These Stocks Before you make your next investing move, we have a free report that highlights the %%CTA_TEXT%% to buy.Our experts at Zacks Investment Research hand-selected these stocks for their eye-opening growth projections.Since 1988, our stock picks have more than doubled the S&P 500 with an average gain of +23.89% per year using the Zacks Rank stock-rating system.Register now to see the %%CTA_TEXT%%.7 best stocksWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Cleveland-Cliffs Inc. (CLF): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks