We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Is Cleveland-Cliffs (CLF) Outperforming Other Basic Materials Stocks This Year?
Read MoreHide Full Article
Investors focused on the Basic Materials space have likely heard of Cleveland-Cliffs (CLF - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of CLF and the rest of the Basic Materials group's stocks.
Cleveland-Cliffs is one of 238 companies in the Basic Materials group. The Basic Materials group currently sits at #15 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. CLF is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for CLF's full-year earnings has moved 30.13% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that CLF has returned about 59.64% since the start of the calendar year. Meanwhile, stocks in the Basic Materials group have lost about 6.59% on average. This shows that Cleveland-Cliffs is outperforming its peers so far this year.
Looking more specifically, CLF belongs to the Mining - Miscellaneous industry, which includes 32 individual stocks and currently sits at #180 in the Zacks Industry Rank. On average, this group has lost an average of 5.15% so far this year, meaning that CLF is performing better in terms of year-to-date returns.
Investors in the Basic Materials sector will want to keep a close eye on CLF as it attempts to continue its solid performance.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Is Cleveland-Cliffs (CLF) Outperforming Other Basic Materials Stocks This Year?
Investors focused on the Basic Materials space have likely heard of Cleveland-Cliffs (CLF - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of CLF and the rest of the Basic Materials group's stocks.
Cleveland-Cliffs is one of 238 companies in the Basic Materials group. The Basic Materials group currently sits at #15 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. CLF is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for CLF's full-year earnings has moved 30.13% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that CLF has returned about 59.64% since the start of the calendar year. Meanwhile, stocks in the Basic Materials group have lost about 6.59% on average. This shows that Cleveland-Cliffs is outperforming its peers so far this year.
Looking more specifically, CLF belongs to the Mining - Miscellaneous industry, which includes 32 individual stocks and currently sits at #180 in the Zacks Industry Rank. On average, this group has lost an average of 5.15% so far this year, meaning that CLF is performing better in terms of year-to-date returns.
Investors in the Basic Materials sector will want to keep a close eye on CLF as it attempts to continue its solid performance.