Cleveland-Cliffs (CLF) closed the most recent trading day at $17.11, moving +0.77% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.28%. At the same time, the Dow added 0.29%, and the tech-heavy Nasdaq gained 0.16%.

Coming into today, shares of the mining company had lost 16.31% in the past month. In that same time, the Basic Materials sector gained 1.28%, while the S&P 500 lost 5.39%.

Investors will be hoping for strength from Cleveland-Cliffs as it approaches its next earnings release, which is expected to be February 11, 2022. The company is expected to report EPS of $2.03, up 745.83% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $5.42 billion, up 140.22% from the prior-year quarter.

Investors might also notice recent changes to analyst estimates for Cleveland-Cliffs. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.

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. Within the past 30 days, our consensus EPS projection has moved 3.14% higher. Cleveland-Cliffs is holding a Zacks Rank of #1 (Strong Buy) right now.

Digging into valuation, Cleveland-Cliffs currently has a Forward P/E ratio of 3. For comparison, its industry has an average Forward P/E of 10.01, which means Cleveland-Cliffs is trading at a discount to the group.

The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 102, putting it in the top 40% 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.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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