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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 at $46.67 in the latest trading session, marking a -1.02% move from the prior day. This change lagged the S&P 500's daily loss of 0.72%.
Coming into today, shares of the mining company had gained 21.21% in the past month. In that same time, the Basic Materials sector gained 7.81%, while the S&P 500 lost 6.24%.
Wall Street will be looking for positivity from Freeport-McMoRan as it approaches its next earnings report date. In that report, analysts expect Freeport-McMoRan to post earnings of $0.84 per share. This would mark year-over-year growth of 64.71%. Meanwhile, our latest consensus estimate is calling for revenue of $6.23 billion, up 28.41% from the prior-year quarter.
FCX's full-year Zacks Consensus Estimates are calling for earnings of $3.69 per share and revenue of $26 billion. These results would represent year-over-year changes of +17.89% and +13.81%, respectively.
Investors should also note any recent changes to analyst estimates for Freeport-McMoRan. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.69% higher. Freeport-McMoRan is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Freeport-McMoRan has a Forward P/E ratio of 12.77 right now. This valuation marks a premium compared to its industry's average Forward P/E of 12.66.
We can also see that FCX currently has a PEG ratio of 0.44. 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 0.44 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 227, putting it in the bottom 11% 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.
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 at $46.67 in the latest trading session, marking a -1.02% move from the prior day. This change lagged the S&P 500's daily loss of 0.72%.
Coming into today, shares of the mining company had gained 21.21% in the past month. In that same time, the Basic Materials sector gained 7.81%, while the S&P 500 lost 6.24%.
Wall Street will be looking for positivity from Freeport-McMoRan as it approaches its next earnings report date. In that report, analysts expect Freeport-McMoRan to post earnings of $0.84 per share. This would mark year-over-year growth of 64.71%. Meanwhile, our latest consensus estimate is calling for revenue of $6.23 billion, up 28.41% from the prior-year quarter.
FCX's full-year Zacks Consensus Estimates are calling for earnings of $3.69 per share and revenue of $26 billion. These results would represent year-over-year changes of +17.89% and +13.81%, respectively.
Investors should also note any recent changes to analyst estimates for Freeport-McMoRan. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.69% higher. Freeport-McMoRan is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Freeport-McMoRan has a Forward P/E ratio of 12.77 right now. This valuation marks a premium compared to its industry's average Forward P/E of 12.66.
We can also see that FCX currently has a PEG ratio of 0.44. 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 0.44 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 227, putting it in the bottom 11% 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.
To follow FCX in the coming trading sessions, be sure to utilize Zacks.com.