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Has FreeportMcMoRan (FCX) Outpaced Other Basic Materials Stocks This Year?
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Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Has FreeportMcMoRan (FCX - Free Report) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.
FreeportMcMoRan is one of 245 individual stocks in the Basic Materials sector. Collectively, these companies sit at #5 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. FCX is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for FCX's full-year earnings has moved 24.86% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that FCX has returned about 64.30% since the start of the calendar year. Meanwhile, the Basic Materials sector has returned an average of 24.68% on a year-to-date basis. This means that FreeportMcMoRan is performing better than its sector in terms of year-to-date returns.
Looking more specifically, FCX belongs to the Mining - Non Ferrous industry, a group that includes 9 individual stocks and currently sits at #89 in the Zacks Industry Rank. On average, stocks in this group have gained 41.50% this year, meaning that FCX is performing better in terms of year-to-date returns.
FCX will likely be looking to continue its solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to the company.
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Has FreeportMcMoRan (FCX) Outpaced Other Basic Materials Stocks This Year?
Investors interested in Basic Materials stocks should always be looking to find the best-performing companies in the group. Has FreeportMcMoRan (FCX - Free Report) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.
FreeportMcMoRan is one of 245 individual stocks in the Basic Materials sector. Collectively, these companies sit at #5 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. FCX is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for FCX's full-year earnings has moved 24.86% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that FCX has returned about 64.30% since the start of the calendar year. Meanwhile, the Basic Materials sector has returned an average of 24.68% on a year-to-date basis. This means that FreeportMcMoRan is performing better than its sector in terms of year-to-date returns.
Looking more specifically, FCX belongs to the Mining - Non Ferrous industry, a group that includes 9 individual stocks and currently sits at #89 in the Zacks Industry Rank. On average, stocks in this group have gained 41.50% this year, meaning that FCX is performing better in terms of year-to-date returns.
FCX will likely be looking to continue its solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to the company.