Investing.com - Cleveland-Cliffs reported on Thursday second quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
Cleveland-Cliffs announced earnings per share of $1.2 on revenue of $5B. Analysts polled by Investing.com anticipated EPS of $1.52 on revenue of $5.09B.
Cleveland-Cliffs shares are up 91% from the beginning of the year and are trading at $21.18 , down-from-52-week-high.They are outperforming the Nasdaq which is up 13.53% from the start of the year.
Cleveland-Cliffs follows other major Basic Materials sector earnings this month
Cleveland-Cliffs's report follows an earnings beat by Newmont Goldcorp on Thursday, who reported EPS of $0.83 on revenue of $3.06B, compared to forecasts EPS of $0.8078 on revenue of $3.14B.
Dow had beat expectations on Thursday with second quarter EPS of $2.72 on revenue of $13.86B, compared to forecast for EPS of $2.36 on revenue of $13.06B.
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