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Is ClevelandCliffs (CLF) Stock Outpacing Its Basic Materials Peers This Year?
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Investors focused on the Basic Materials space have likely heard of ClevelandCliffs (CLF - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.
ClevelandCliffs is one of 252 companies in the Basic Materials group. The Basic Materials group currently sits at #11 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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 #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CLF's full-year earnings has moved 19.10% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, CLF has returned 36.19% so far this year. In comparison, Basic Materials companies have returned an average of 3.46%. As we can see, ClevelandCliffs is performing better than its sector in the calendar year.
Breaking things down more, CLF is a member of the Mining - Miscellaneous industry, which includes 51 individual companies and currently sits at #194 in the Zacks Industry Rank. On average, stocks in this group have lost 1.22% 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.
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Is ClevelandCliffs (CLF) Stock Outpacing Its Basic Materials Peers This Year?
Investors focused on the Basic Materials space have likely heard of ClevelandCliffs (CLF - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.
ClevelandCliffs is one of 252 companies in the Basic Materials group. The Basic Materials group currently sits at #11 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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 #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CLF's full-year earnings has moved 19.10% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, CLF has returned 36.19% so far this year. In comparison, Basic Materials companies have returned an average of 3.46%. As we can see, ClevelandCliffs is performing better than its sector in the calendar year.
Breaking things down more, CLF is a member of the Mining - Miscellaneous industry, which includes 51 individual companies and currently sits at #194 in the Zacks Industry Rank. On average, stocks in this group have lost 1.22% 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.