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Cleveland-Cliffs (CLF) Dips More Than Broader Markets: What You Should Know

Cleveland-Cliffs (CLF) closed at $17.54 in the latest trading session, marking a -1.63% move from the prior day. This move lagged the S&P 500's daily loss of 0.02%.

Prior to today's trading, shares of the mining company had gained 5.5% over the past month. This has lagged the Basic Materials sector's gain of 5.63% and the S&P 500's gain of 6.61% in that time.

CLF will be looking to display strength as it nears its next earnings release, which is expected to be April 22, 2021. The company is expected to report EPS of $0.27, up 575% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.77 billion, up 951.14% from the year-ago period.

CLF's full-year Zacks Consensus Estimates are calling for earnings of $3.47 per share and revenue of $17.45 billion. These results would represent year-over-year changes of +1941.18% and +225.91%, respectively.

Investors should also note any recent changes to analyst estimates for CLF. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.61% higher within the past month. CLF is currently a Zacks Rank #3 (Hold).

Digging into valuation, CLF currently has a Forward P/E ratio of 5.15. This represents a discount compared to its industry's average Forward P/E of 10.92.

The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 68, putting it in the top 27% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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