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Is ClevelandCliffs (CLF) Stock Outpacing Its Basic Materials Peers 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 ClevelandCliffs (CLF - 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 a member of the Basic Materials sector. This group includes 251 individual stocks and currently holds a Zacks Sector Rank of #7. 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 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 42.14% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that CLF has returned about 67.38% since the start of the calendar year. Meanwhile, stocks in the Basic Materials group have gained about 12.82% on average. As we can see, ClevelandCliffs is performing better than its sector in the calendar year.
Breaking things down more, CLF is a member of the Mining - Miscellaneous industry, which includes 47 individual companies and currently sits at #220 in the Zacks Industry Rank. On average, stocks in this group have gained 10.24% this year, meaning that CLF is performing better in terms of year-to-date returns.
Investors with an interest in Basic Materials stocks should continue to track CLF. The stock will be looking to continue its solid performance.
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Is ClevelandCliffs (CLF) Stock Outpacing Its Basic Materials Peers This Year?
Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Has ClevelandCliffs (CLF - 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 a member of the Basic Materials sector. This group includes 251 individual stocks and currently holds a Zacks Sector Rank of #7. 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 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 42.14% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that CLF has returned about 67.38% since the start of the calendar year. Meanwhile, stocks in the Basic Materials group have gained about 12.82% on average. As we can see, ClevelandCliffs is performing better than its sector in the calendar year.
Breaking things down more, CLF is a member of the Mining - Miscellaneous industry, which includes 47 individual companies and currently sits at #220 in the Zacks Industry Rank. On average, stocks in this group have gained 10.24% this year, meaning that CLF is performing better in terms of year-to-date returns.
Investors with an interest in Basic Materials stocks should continue to track CLF. The stock will be looking to continue its solid performance.