Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Cleveland-Cliffs (CLF) Stock Jumps 11.8%: Will It Continue to Soar?

By Zacks Investment ResearchStock MarketsMay 05, 2021 02:56AM ET
www.investing.com/analysis/clevelandcliffs-clf-stock-jumps-118-will-it-continue-to-soar-200577599
Cleveland-Cliffs (CLF) Stock Jumps 11.8%: Will It Continue to Soar?
By Zacks Investment Research   |  May 05, 2021 02:56AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

Cleveland-Cliffs (NYSE:CLF) shares rallied 11.8% in the last trading session to close at $20.36. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 6.1% loss over the past four weeks.

CLF’s shares rallied as Credit Suisse (SIX:CSGN) upgraded it to “Outperform” from “Neutral” and raised its price target to $24 from $21.

Price and Consensus

Price Consensus Chart for CLF
Price Consensus Chart for CLF

This mining company is expected to post quarterly earnings of $1.34 per share in its upcoming report, which represents a year-over-year change of +532.3%. Revenues are expected to be $4.75 billion, up 335% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For Cleveland-Cliffs, the consensus EPS estimate for the quarter has been revised 2.2% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on CLF going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>


Want 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

ClevelandCliffs Inc. (CLF): Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research
Cleveland-Cliffs (CLF) Stock Jumps 11.8%: Will It Continue to Soar?
 

Related Articles

Michele Schneider
Is Stagflation Creeping up? By Michele Schneider - Jun 20, 2021 1

After Wednesday’s Fed announcement, the stock market has been sitting in an uneasy state. The U.S dollar—Invesco DB US Dollar Index Bullish Fund (NYSE:UUP) not only firmed, but...

Cleveland-Cliffs (CLF) Stock Jumps 11.8%: Will It Continue to Soar?

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email