Investors focused on the Basic Materials space have likely heard of ClevelandCliffs (CLF Quick QuoteCLF - 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 252 companies in the Basic Materials group. The Basic Materials group currently sits at #15 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 #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for CLF's full-year earnings has moved 7.59% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

According to our latest data, CLF has moved about 53.57% on a year-to-date basis. Meanwhile, the Basic Materials sector has returned an average of 8.47% on a year-to-date basis. This shows that ClevelandCliffs is outperforming its peers so far this year.

Breaking things down more, CLF is a member of the Mining - Miscellaneous industry, which includes 51 individual companies and currently sits at #211 in the Zacks Industry Rank. On average, stocks in this group have lost 1.44% 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.