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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 $31.61, moving -1.83% from the previous trading session. This move lagged the S&P 500's daily loss of 0.55%. Elsewhere, the Dow lost 0.01%, while the tech-heavy Nasdaq lost 2.01%.
Heading into today, shares of the mining company had lost 14.93% over the past month, lagging the Basic Materials sector's loss of 3.27% and the S&P 500's gain of 0.84% in that time.
Wall Street will be looking for positivity from FCX as it approaches its next earnings report date. In that report, analysts expect FCX to post earnings of $0.47 per share. This would mark 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.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.30 per share and revenue of $19.79 billion. These totals would mark changes of +325.93% and +39.37%, respectively, from last year.
Any recent changes to analyst estimates for FCX should also be noted by investors. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 3.27% higher. FCX is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note FCX's current valuation metrics, including its Forward P/E ratio of 13.98. This represents a discount compared to its industry's average Forward P/E of 16.4.
Also, we should mention that FCX has a PEG ratio of 0.53. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Mining - Non Ferrous was holding an average PEG ratio of 0.91 at yesterday's closing price.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 189, putting it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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Freeport-McMoRan (FCX) Dips More Than Broader Markets: What You Should Know
Freeport-McMoRan (FCX - Free Report) closed the most recent trading day at $31.61, moving -1.83% from the previous trading session. This move lagged the S&P 500's daily loss of 0.55%. Elsewhere, the Dow lost 0.01%, while the tech-heavy Nasdaq lost 2.01%.
Heading into today, shares of the mining company had lost 14.93% over the past month, lagging the Basic Materials sector's loss of 3.27% and the S&P 500's gain of 0.84% in that time.
Wall Street will be looking for positivity from FCX as it approaches its next earnings report date. In that report, analysts expect FCX to post earnings of $0.47 per share. This would mark 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.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.30 per share and revenue of $19.79 billion. These totals would mark changes of +325.93% and +39.37%, respectively, from last year.
Any recent changes to analyst estimates for FCX should also be noted by investors. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 3.27% higher. FCX is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note FCX's current valuation metrics, including its Forward P/E ratio of 13.98. This represents a discount compared to its industry's average Forward P/E of 16.4.
Also, we should mention that FCX has a PEG ratio of 0.53. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Mining - Non Ferrous was holding an average PEG ratio of 0.91 at yesterday's closing price.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 189, putting it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.