Cliffs Natural Resources Inc.CLF is an international mining company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on CLF's earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Cliffs Natural Resources could be a solid choice for investors.
Current Quarter Estimates for CLF
In the past 30 days, 3 estimates have gone higher for Cliffs Natural Resources while none has gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from a loss of 21 cents a share 30 days ago, to breakeven today.
Current Year Estimates for CLF
Meanwhile, Cliffs Natural Resources' current year figures are also looking quite promising, with 4 estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 66 cents per share 30 days ago to a loss of 37 cents today, a move of 43.9%.
The stock has also started to move higher lately, adding 60.4% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future.