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Has Cleveland-Cliffs (CLF) Outpaced Other Basic Materials Stocks This Year?
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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? 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.
Cleveland-Cliffs is one of 239 individual stocks in the Basic Materials sector. Collectively, these companies sit at #8 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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).
Over the past 90 days, the Zacks Consensus Estimate for CLF's full-year earnings has moved 30.75% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, CLF has moved about 43.13% on a year-to-date basis. Meanwhile, stocks in the Basic Materials group have lost about 4.27% on average. This shows that Cleveland-Cliffs is outperforming its peers so far this year.
Breaking things down more, CLF is a member of the Mining - Miscellaneous industry, which includes 32 individual companies and currently sits at #115 in the Zacks Industry Rank. This group has lost an average of 0.08% so far this year, so CLF is performing better in this area.
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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Has Cleveland-Cliffs (CLF) Outpaced 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? 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.
Cleveland-Cliffs is one of 239 individual stocks in the Basic Materials sector. Collectively, these companies sit at #8 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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).
Over the past 90 days, the Zacks Consensus Estimate for CLF's full-year earnings has moved 30.75% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, CLF has moved about 43.13% on a year-to-date basis. Meanwhile, stocks in the Basic Materials group have lost about 4.27% on average. This shows that Cleveland-Cliffs is outperforming its peers so far this year.
Breaking things down more, CLF is a member of the Mining - Miscellaneous industry, which includes 32 individual companies and currently sits at #115 in the Zacks Industry Rank. This group has lost an average of 0.08% so far this year, so CLF is performing better in this area.
Investors in the Basic Materials sector will want to keep a close eye on CLF as it attempts to continue its solid performance.