Cleveland-Cliffs (CLF) Stock Moves -0.8%: What You Should Know

Cleveland-Cliffs (CLF) closed the most recent trading day at $9.93, moving -0.8% from the previous trading session. The stock's change was more than the S&P 500's daily loss of 1.46%. Meanwhile, the Dow experienced a rise of 0.65%, and the technology-dominated Nasdaq saw a decrease of 3.07%.The mining company's shares have seen an increase of 8.33% over the last month, surpassing the Basic Materials sector's gain of 1.43% and the S&P 500's gain of 1.08%.Analysts and investors alike will be keeping a close eye on the performance of Cleveland-Cliffs in its upcoming earnings disclosure. The company's earnings report is set to go public on February 24, 2025. The company's upcoming EPS is projected at -$0.53, signifying a 960% drop compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $4.38 billion, reflecting a 14.29% fall from the equivalent quarter last year.Investors should also note any recent changes to analyst estimates for Cleveland-Cliffs. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 377.08% lower. Cleveland-Cliffs is currently sporting a Zacks Rank of #3 (Hold).The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 93, putting it in the top 38% 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.You can find more information on all of these metrics, and much more, on Zacks.com.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Cleveland-Cliffs Inc. (CLF): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks