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Has Cleveland-Cliffs (CLF) Outpaced 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. Cleveland-Cliffs (CLF - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of CLF and the rest of the Basic Materials group's stocks.
Cleveland-Cliffs is a member of our Basic Materials group, which includes 240 different companies and currently sits at #11 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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).
Within the past quarter, the Zacks Consensus Estimate for CLF's full-year earnings has moved 28.03% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, CLF has moved about 49.79% on a year-to-date basis. At the same time, Basic Materials stocks have lost an average of 2.08%. This shows that Cleveland-Cliffs is outperforming its peers so far this year.
Looking more specifically, CLF belongs to the Mining - Miscellaneous industry, which includes 33 individual stocks and currently sits at #88 in the Zacks Industry Rank. On average, stocks in this group have gained 5.34% 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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Has Cleveland-Cliffs (CLF) Outpaced 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. Cleveland-Cliffs (CLF - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of CLF and the rest of the Basic Materials group's stocks.
Cleveland-Cliffs is a member of our Basic Materials group, which includes 240 different companies and currently sits at #11 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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).
Within the past quarter, the Zacks Consensus Estimate for CLF's full-year earnings has moved 28.03% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, CLF has moved about 49.79% on a year-to-date basis. At the same time, Basic Materials stocks have lost an average of 2.08%. This shows that Cleveland-Cliffs is outperforming its peers so far this year.
Looking more specifically, CLF belongs to the Mining - Miscellaneous industry, which includes 33 individual stocks and currently sits at #88 in the Zacks Industry Rank. On average, stocks in this group have gained 5.34% 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.