In the latest close session, Cleveland-Cliffs (CLF) was down 2.35% at $9.54. This change lagged the S&P 500's daily loss of 0.45%. At the same time, the Dow lost 0.25%, and the tech-heavy Nasdaq lost 1.16%.
The stock of mining company has fallen by 22.95% in the past month, lagging the Basic Materials sector's loss of 0.89% and the S&P 500's gain of 2.14%.
Investors will be eagerly watching for the performance of Cleveland-Cliffs in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on July 23, 2026. The company is predicted to post an EPS of -$0.18, indicating a 64% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $5.17 billion, up 4.83% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.27 per share and a revenue of $20.59 billion, indicating changes of +89.11% and +10.67%, respectively, from the former year.
Any recent changes to analyst estimates for Cleveland-Cliffs should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 47.83% upward. Currently, Cleveland-Cliffs is carrying a Zacks Rank of #2 (Buy).
The Steel - Producers industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 70, positioning it in the top 29% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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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Cleveland-Cliffs Inc. (CLF): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).