In the latest market close, Cleveland-Cliffs (CLF) reached $10.24, with a +0.2% movement compared to the previous day. The stock's change was less than the S&P 500's daily gain of 1.83%. Meanwhile, the Dow experienced a rise of 1.65%, and the technology-dominated Nasdaq saw an increase of 2.45%.

The the stock of mining company has risen by 3.34% in the past month, leading the Basic Materials sector's loss of 6.01% and the S&P 500's loss of 3.31%.

Market participants will be closely following the financial results of Cleveland-Cliffs in its upcoming release. The company's earnings per share (EPS) are projected to be -$0.50, reflecting a 900% decrease from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $4.37 billion, down 14.49% from the year-ago period.

Investors should also note any recent changes 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 company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

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 186.57% lower within the past month. Right now, Cleveland-Cliffs possesses a Zacks Rank of #3 (Hold).

The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 138, which puts it in the bottom 46% of all 250+ industries.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

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