Cleveland-Cliffs (CLF) ended the recent trading session at $9.28, demonstrating a -2.62% change from the preceding day's closing price. This change lagged the S&P 500's 1.01% loss on the day. On the other hand, the Dow registered a loss of 0.77%, and the technology-centric Nasdaq decreased by 1.4%.
Shares of the mining company have depreciated by 22.39% over the course of the past month, underperforming the Basic Materials sector's loss of 10.7%, and the S&P 500's gain of 0.32%.
The investment community will be closely monitoring the performance of Cleveland-Cliffs in its forthcoming earnings report. The company is scheduled to release its earnings on July 23, 2026. In that report, analysts expect Cleveland-Cliffs to post earnings of -$0.18 per share. This would mark year-over-year growth of 64%. Alongside, our most recent consensus estimate is anticipating revenue of $5.17 billion, indicating a 4.83% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.27 per share and revenue of $20.59 billion, indicating changes of +89.11% and +10.67%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Cleveland-Cliffs. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 36.51% increase. Cleveland-Cliffs is currently sporting 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 42, positioning it in the top 18% 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.
To follow CLF in the coming trading sessions, be sure to utilize Zacks.com.
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Cleveland-Cliffs Inc. (CLF): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).