Cleveland-Cliffs (CLF Quick QuoteCLF - Free Report) closed at $7.82 in the latest trading session, marking a -4.4% move from the prior day. The stock's change was less than the S&P 500's daily loss of 1.51%. On the other hand, the Dow registered a loss of 0.97%, and the technology-centric Nasdaq decreased by 2.01%.

Shares of the mining company witnessed a loss of 20.35% over the previous month, trailing the performance of the Basic Materials sector with its loss of 12.64%, and the S&P 500's loss of 3.63%.

Analysts and investors alike will be keeping a close eye on the performance of Cleveland-Cliffs in its upcoming earnings disclosure. The company is forecasted to report an EPS of -$0.29, showcasing a 68.48% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $4.93 billion, reflecting a 6.45% rise from the equivalent quarter last year.

For the full year, the Zacks Consensus Estimates project earnings of -$0.39 per share and a revenue of $20.57 billion, demonstrating changes of +84.27% and +10.52%, respectively, from the preceding year.

Investors should also note any recent changes to analyst estimates for Cleveland-Cliffs. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 3.8% decrease. Cleveland-Cliffs currently has a Zacks Rank of #4 (Sell).

The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 224, putting it in the bottom 9% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.