Cleveland-Cliffs (CLF) closed the latest trading day at $11.87, indicating a +0.85% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily gain of 0.28%. Meanwhile, the Dow gained 0.15%, and the Nasdaq, a tech-heavy index, added 0.15%.

Shares of the mining company witnessed a loss of 11.3% over the previous month, trailing the performance of the Basic Materials sector with its gain of 1.99% and the S&P 500's gain of 2%.

The investment community will be paying close attention to the earnings performance of Cleveland-Cliffs in its upcoming release. The company is predicted to post an EPS of -$0.19, indicating a 135.19% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.84 billion, down 13.6% from the year-ago period.

For the full year, the Zacks Consensus Estimates project earnings of -$0.03 per share and a revenue of $20.15 billion, demonstrating changes of -102.8% and -8.4%, respectively, from the preceding year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Cleveland-Cliffs. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 155.17% lower within the past month. Currently, Cleveland-Cliffs is carrying a Zacks Rank of #3 (Hold).

The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 164, finds itself in the bottom 36% echelons 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.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

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