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Cleveland-Cliffs (CLF) Dips More Than Broader Markets: What You Should Know

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In the latest trading session, Cleveland-Cliffs (CLF - Free Report) closed at $20.71, marking a -1.94% move from the previous day. This move lagged the S&P 500's daily loss of 1.04%.

Prior to today's trading, shares of the mining company had gained 16.75% over the past month. This has outpaced the Basic Materials sector's gain of 12.57% and the S&P 500's gain of 3.83% in that time.

The company is expected to report EPS of $1.34, up 532.26% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $4.75 billion, up 334.97% from the prior-year quarter.

CLF's full-year Zacks Consensus Estimates are calling for earnings of $3.87 per share and revenue of $18.09 billion. These results would represent year-over-year changes of +2176.47% and +237.83%, respectively.

It is also important to note the 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 past month, the Zacks Consensus EPS estimate has moved 11.69% higher. CLF is holding a Zacks Rank of #3 (Hold) right now.

Valuation is also important, so investors should note that CLF has a Forward P/E ratio of 5.46 right now. This represents a discount compared to its industry's average Forward P/E of 12.59.

The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 181, which puts it in the bottom 29% 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.

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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