Cleveland-Cliffs (CLF) Advances While Market Declines: Some Information for Investors

Core Viewpoint - Cleveland-Cliffs is experiencing a decline in projected earnings and revenue, with significant downward revisions in analyst estimates indicating challenges ahead for the company [2][5]. Group 1: Stock Performance - Cleveland-Cliffs closed at $11.48, reflecting a gain of 0.79% from the previous trading session, outperforming the S&P 500's loss of 0.01% [1]. - Over the past month, shares of Cleveland-Cliffs have appreciated by 9.31%, surpassing the Basic Materials sector's gain of 7.95% and the S&P 500's gain of 4.88% [1]. Group 2: Financial Projections - The upcoming earnings announcement is scheduled for February 24, 2025, with an expected EPS of -$ 0.56, representing a 1020% decline compared to the same quarter last year [2]. - Revenue is projected to be $4.31 billion, indicating a 15.62% decline compared to the corresponding quarter of the prior year [2]. Group 3: Analyst Estimates - Recent changes in analyst estimates for Cleveland-Cliffs show a downward revision of 124.78% in the Zacks Consensus EPS estimate over the past month [5]. - The company currently holds a Zacks Rank of 5 (Strong Sell), reflecting negative sentiment among analysts regarding its business operations and profit generation capabilities [5]. Group 4: Industry Context - Cleveland-Cliffs operates within the Mining - Miscellaneous industry, which is part of the Basic Materials sector, holding a Zacks Industry Rank of 162, placing it in the bottom 36% of over 250 industries [6]. - The Zacks Industry Rank indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1, suggesting challenges for the Mining - Miscellaneous industry [6].