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Freeport-McMoRan (FCX) Dips More Than Broader Markets: What You Should Know
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Freeport-McMoRan (FCX - Free Report) closed the most recent trading day at $35.42, moving -1.91% from the previous trading session. This change lagged the S&P 500's 1.48% loss on the day. Meanwhile, the Dow lost 0.46%, and the Nasdaq, a tech-heavy index, lost 3.02%.
Prior to today's trading, shares of the mining company had gained 5.74% over the past month. This has outpaced the Basic Materials sector's gain of 3.94% and the S&P 500's gain of 1.23% in that time.
Investors will be hoping for strength from FCX as it approaches its next earnings release. On that day, FCX is projected to report earnings of $0.47 per share, which would represent year-over-year growth of 393.75%. Meanwhile, our latest consensus estimate is calling for revenue of $4.63 billion, up 65.61% from the prior-year quarter.
FCX's full-year Zacks Consensus Estimates are calling for earnings of $2.30 per share and revenue of $19.79 billion. These results would represent year-over-year changes of +325.93% and +39.37%, respectively.
Investors should also note any recent changes to analyst estimates for FCX. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 3.2% higher. FCX is currently a Zacks Rank #3 (Hold).
In terms of valuation, FCX is currently trading at a Forward P/E ratio of 15.69. Its industry sports an average Forward P/E of 18.45, so we one might conclude that FCX is trading at a discount comparatively.
Meanwhile, FCX's PEG ratio is currently 0.59. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. FCX's industry had an average PEG ratio of 0.99 as of yesterday's close.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 162, putting it in the bottom 37% 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.
To follow FCX in the coming trading sessions, be sure to utilize Zacks.com.
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Freeport-McMoRan (FCX) Dips More Than Broader Markets: What You Should Know
Freeport-McMoRan (FCX - Free Report) closed the most recent trading day at $35.42, moving -1.91% from the previous trading session. This change lagged the S&P 500's 1.48% loss on the day. Meanwhile, the Dow lost 0.46%, and the Nasdaq, a tech-heavy index, lost 3.02%.
Prior to today's trading, shares of the mining company had gained 5.74% over the past month. This has outpaced the Basic Materials sector's gain of 3.94% and the S&P 500's gain of 1.23% in that time.
Investors will be hoping for strength from FCX as it approaches its next earnings release. On that day, FCX is projected to report earnings of $0.47 per share, which would represent year-over-year growth of 393.75%. Meanwhile, our latest consensus estimate is calling for revenue of $4.63 billion, up 65.61% from the prior-year quarter.
FCX's full-year Zacks Consensus Estimates are calling for earnings of $2.30 per share and revenue of $19.79 billion. These results would represent year-over-year changes of +325.93% and +39.37%, respectively.
Investors should also note any recent changes to analyst estimates for FCX. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 3.2% higher. FCX is currently a Zacks Rank #3 (Hold).
In terms of valuation, FCX is currently trading at a Forward P/E ratio of 15.69. Its industry sports an average Forward P/E of 18.45, so we one might conclude that FCX is trading at a discount comparatively.
Meanwhile, FCX's PEG ratio is currently 0.59. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. FCX's industry had an average PEG ratio of 0.99 as of yesterday's close.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 162, putting it in the bottom 37% 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.
To follow FCX in the coming trading sessions, be sure to utilize Zacks.com.