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Is ClevelandCliffs (CLF) Outperforming Other Basic Materials Stocks 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. Is Cleveland-Cliffs (CLF - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question.
Cleveland-Cliffs is a member of the Basic Materials sector. This group includes 241 individual stocks and currently holds a Zacks Sector Rank of #3. 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. Cleveland-Cliffs is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for CLF's full-year earnings has moved 0.1% 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 10.8% on a year-to-date basis. In comparison, Basic Materials companies have returned an average of 3.2%. This shows that Cleveland-Cliffs is outperforming its peers so far this year.
Another Basic Materials stock, which has outperformed the sector so far this year, is Albemarle (ALB - Free Report) . The stock has returned 3.7% year-to-date.
Over the past three months, Albemarle's consensus EPS estimate for the current year has increased 77.8%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Cleveland-Cliffs is a member of the Mining - Miscellaneous industry, which includes 49 individual companies and currently sits at #75 in the Zacks Industry Rank. On average, stocks in this group have gained 11.3% this year, meaning that CLF is slightly underperforming its industry in terms of year-to-date returns.
In contrast, Albemarle falls under the Chemical - Diversified industry. Currently, this industry has 38 stocks and is ranked #182. Since the beginning of the year, the industry has moved -4.8%.
Investors with an interest in Basic Materials stocks should continue to track Cleveland-Cliffs and Albemarle. These stocks will be looking to continue their solid performance.
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Is ClevelandCliffs (CLF) Outperforming Other Basic Materials Stocks This Year?
Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Is Cleveland-Cliffs (CLF - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question.
Cleveland-Cliffs is a member of the Basic Materials sector. This group includes 241 individual stocks and currently holds a Zacks Sector Rank of #3. 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. Cleveland-Cliffs is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for CLF's full-year earnings has moved 0.1% 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 10.8% on a year-to-date basis. In comparison, Basic Materials companies have returned an average of 3.2%. This shows that Cleveland-Cliffs is outperforming its peers so far this year.
Another Basic Materials stock, which has outperformed the sector so far this year, is Albemarle (ALB - Free Report) . The stock has returned 3.7% year-to-date.
Over the past three months, Albemarle's consensus EPS estimate for the current year has increased 77.8%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Cleveland-Cliffs is a member of the Mining - Miscellaneous industry, which includes 49 individual companies and currently sits at #75 in the Zacks Industry Rank. On average, stocks in this group have gained 11.3% this year, meaning that CLF is slightly underperforming its industry in terms of year-to-date returns.
In contrast, Albemarle falls under the Chemical - Diversified industry. Currently, this industry has 38 stocks and is ranked #182. Since the beginning of the year, the industry has moved -4.8%.
Investors with an interest in Basic Materials stocks should continue to track Cleveland-Cliffs and Albemarle. These stocks will be looking to continue their solid performance.