Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Has ClevelandCliffs (CLF Quick QuoteCLF - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

ClevelandCliffs is one of 251 companies in the Basic Materials group. The Basic Materials group currently sits at #4 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the 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 45.31% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the latest available data, CLF has gained about 54.94% so far this year. Meanwhile, stocks in the Basic Materials group have gained about 19.65% on average. This means that ClevelandCliffs is performing better than its sector in terms of year-to-date returns.

Looking more specifically, CLF belongs to the Mining - Miscellaneous industry, which includes 47 individual stocks and currently sits at #164 in the Zacks Industry Rank. This group has gained an average of 34.77% so far this year, so CLF is performing better in this area.

Investors with an interest in Basic Materials stocks should continue to track CLF. The stock will be looking to continue its solid performance.