We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Has ClevelandCliffs (CLF) Outpaced Other Basic Materials Stocks This Year?
Read MoreHide Full Article
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? Let's take a closer look at the stock's year-to-date performance to find out.
ClevelandCliffs is one of 245 companies in the Basic Materials group. The Basic Materials group currently sits at #6 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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).
The Zacks Consensus Estimate for CLF's full-year earnings has moved 65.63% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that CLF has returned about 49.79% since the start of the calendar year. At the same time, Basic Materials stocks have gained an average of 19.60%. This means that ClevelandCliffs is outperforming the sector as a whole this year.
Looking more specifically, CLF belongs to the Mining - Miscellaneous industry, a group that includes 46 individual stocks and currently sits at #168 in the Zacks Industry Rank. Stocks in this group have gained about 31.84% so far this year, so CLF is performing better this group in terms of year-to-date returns.
CLF will likely be looking to continue its solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to the company.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Has ClevelandCliffs (CLF) Outpaced Other Basic Materials Stocks 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? Let's take a closer look at the stock's year-to-date performance to find out.
ClevelandCliffs is one of 245 companies in the Basic Materials group. The Basic Materials group currently sits at #6 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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).
The Zacks Consensus Estimate for CLF's full-year earnings has moved 65.63% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that CLF has returned about 49.79% since the start of the calendar year. At the same time, Basic Materials stocks have gained an average of 19.60%. This means that ClevelandCliffs is outperforming the sector as a whole this year.
Looking more specifically, CLF belongs to the Mining - Miscellaneous industry, a group that includes 46 individual stocks and currently sits at #168 in the Zacks Industry Rank. Stocks in this group have gained about 31.84% so far this year, so CLF is performing better this group in terms of year-to-date returns.
CLF will likely be looking to continue its solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to the company.