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Is ClevelandCliffs (CLF) Outperforming Other Basic Materials Stocks This Year?
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Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Has Cleveland-Cliffs (CLF - Free Report) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question.
Cleveland-Cliffs is one of 295 individual stocks in the Basic Materials sector. Collectively, these companies sit at #10 in 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 proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Cleveland-Cliffs 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 291.3% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, CLF has moved about 7.5% on a year-to-date basis. Meanwhile, the Basic Materials sector has returned an average of 5.7% on a year-to-date basis. This means that Cleveland-Cliffs is outperforming the sector as a whole this year.
Another stock in the Basic Materials sector, ELEMENTIS (ELMTY - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 13.1%.
In ELEMENTIS' case, the consensus EPS estimate for the current year increased 2.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Cleveland-Cliffs belongs to the Steel - Producers industry, a group that includes 17 individual companies and currently sits at #84 in the Zacks Industry Rank. On average, this group has gained an average of 40.5% so far this year, meaning that CLF is slightly underperforming its industry in terms of year-to-date returns.
ELEMENTIS, however, belongs to the Chemical - Specialty industry. Currently, this 48-stock industry is ranked #98. The industry has moved +14.3% so far this year.
Investors with an interest in Basic Materials stocks should continue to track Cleveland-Cliffs and ELEMENTIS. These stocks will be looking to continue their solid performance.
View the Zacks #1 Rank List
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Is ClevelandCliffs (CLF) Outperforming Other Basic Materials Stocks This Year?
Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Has Cleveland-Cliffs (CLF - Free Report) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question.
Cleveland-Cliffs is one of 295 individual stocks in the Basic Materials sector. Collectively, these companies sit at #10 in 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 proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Cleveland-Cliffs 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 291.3% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, CLF has moved about 7.5% on a year-to-date basis. Meanwhile, the Basic Materials sector has returned an average of 5.7% on a year-to-date basis. This means that Cleveland-Cliffs is outperforming the sector as a whole this year.
Another stock in the Basic Materials sector, ELEMENTIS (ELMTY - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 13.1%.
In ELEMENTIS' case, the consensus EPS estimate for the current year increased 2.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Cleveland-Cliffs belongs to the Steel - Producers industry, a group that includes 17 individual companies and currently sits at #84 in the Zacks Industry Rank. On average, this group has gained an average of 40.5% so far this year, meaning that CLF is slightly underperforming its industry in terms of year-to-date returns.
ELEMENTIS, however, belongs to the Chemical - Specialty industry. Currently, this 48-stock industry is ranked #98. The industry has moved +14.3% so far this year.
Investors with an interest in Basic Materials stocks should continue to track Cleveland-Cliffs and ELEMENTIS. These stocks will be looking to continue their solid performance.