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Freeport-McMoRan (FCX) Gains But Lags Market: What You Should Know
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In the latest trading session, Freeport-McMoRan (FCX - Free Report) closed at $49.86, marking a +0.71% move from the previous day. The stock lagged the S&P 500's daily gain of 1.13%. Meanwhile, the Dow gained 0.74%, and the Nasdaq, a tech-heavy index, added 0.87%.
Prior to today's trading, shares of the mining company had gained 15.09% over the past month. This has outpaced the Basic Materials sector's gain of 10.29% and the S&P 500's gain of 2.65% in that time.
Freeport-McMoRan will be looking to display strength as it nears its next earnings release. On that day, Freeport-McMoRan is projected to report earnings of $0.84 per share, which would represent year-over-year growth of 64.71%. Our most recent consensus estimate is calling for quarterly revenue of $6.27 billion, up 29.18% from the year-ago period.
FCX's full-year Zacks Consensus Estimates are calling for earnings of $3.77 per share and revenue of $26.22 billion. These results would represent year-over-year changes of +20.45% and +14.78%, respectively.
Investors might also notice recent changes to analyst estimates for Freeport-McMoRan. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. Over the past month, the Zacks Consensus EPS estimate has moved 2.09% higher. Freeport-McMoRan is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Freeport-McMoRan is holding a Forward P/E ratio of 13.14. Its industry sports an average Forward P/E of 11.73, so we one might conclude that Freeport-McMoRan is trading at a premium comparatively.
Meanwhile, FCX's PEG ratio is currently 0.45. 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. FCX's industry had an average PEG ratio of 0.45 as of yesterday's close.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 226, which puts it in the bottom 12% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Freeport-McMoRan (FCX) Gains But Lags Market: What You Should Know
In the latest trading session, Freeport-McMoRan (FCX - Free Report) closed at $49.86, marking a +0.71% move from the previous day. The stock lagged the S&P 500's daily gain of 1.13%. Meanwhile, the Dow gained 0.74%, and the Nasdaq, a tech-heavy index, added 0.87%.
Prior to today's trading, shares of the mining company had gained 15.09% over the past month. This has outpaced the Basic Materials sector's gain of 10.29% and the S&P 500's gain of 2.65% in that time.
Freeport-McMoRan will be looking to display strength as it nears its next earnings release. On that day, Freeport-McMoRan is projected to report earnings of $0.84 per share, which would represent year-over-year growth of 64.71%. Our most recent consensus estimate is calling for quarterly revenue of $6.27 billion, up 29.18% from the year-ago period.
FCX's full-year Zacks Consensus Estimates are calling for earnings of $3.77 per share and revenue of $26.22 billion. These results would represent year-over-year changes of +20.45% and +14.78%, respectively.
Investors might also notice recent changes to analyst estimates for Freeport-McMoRan. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. Over the past month, the Zacks Consensus EPS estimate has moved 2.09% higher. Freeport-McMoRan is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Freeport-McMoRan is holding a Forward P/E ratio of 13.14. Its industry sports an average Forward P/E of 11.73, so we one might conclude that Freeport-McMoRan is trading at a premium comparatively.
Meanwhile, FCX's PEG ratio is currently 0.45. 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. FCX's industry had an average PEG ratio of 0.45 as of yesterday's close.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 226, which puts it in the bottom 12% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.