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Freeport-McMoRan (FCX) Stock Moves -0.54%: What You Should Know
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In the latest trading session, Freeport-McMoRan (FCX - Free Report) closed at $29.60, marking a -0.54% move from the previous day. This change was narrower than the S&P 500's 0.78% loss on the day. Elsewhere, the Dow lost 0.88%, while the tech-heavy Nasdaq lost 0.26%.
Heading into today, shares of the mining company had gained 1.47% over the past month, outpacing the Basic Materials sector's loss of 0.45% and the S&P 500's loss of 3.4% in that time.
Freeport-McMoRan will be looking to display strength as it nears its next earnings release. In that report, analysts expect Freeport-McMoRan to post earnings of $0.57 per share. This would mark a year-over-year decline of 35.96%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.45 billion, up 6.02% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.69 per share and revenue of $24.81 billion, which would represent changes of -14.06% and +8.61%, respectively, from the prior year.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate has moved 12.42% lower within the past month. Freeport-McMoRan currently has a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, Freeport-McMoRan is holding a Forward P/E ratio of 11.05. Its industry sports an average Forward P/E of 11.05, so we one might conclude that Freeport-McMoRan is trading at a no noticeable deviation comparatively.
Investors should also note that FCX has a PEG ratio of 0.38 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. FCX's industry had an average PEG ratio of 1.21 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 243, which puts it in the bottom 4% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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) Stock Moves -0.54%: What You Should Know
In the latest trading session, Freeport-McMoRan (FCX - Free Report) closed at $29.60, marking a -0.54% move from the previous day. This change was narrower than the S&P 500's 0.78% loss on the day. Elsewhere, the Dow lost 0.88%, while the tech-heavy Nasdaq lost 0.26%.
Heading into today, shares of the mining company had gained 1.47% over the past month, outpacing the Basic Materials sector's loss of 0.45% and the S&P 500's loss of 3.4% in that time.
Freeport-McMoRan will be looking to display strength as it nears its next earnings release. In that report, analysts expect Freeport-McMoRan to post earnings of $0.57 per share. This would mark a year-over-year decline of 35.96%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.45 billion, up 6.02% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.69 per share and revenue of $24.81 billion, which would represent changes of -14.06% and +8.61%, respectively, from the prior year.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate has moved 12.42% lower within the past month. Freeport-McMoRan currently has a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, Freeport-McMoRan is holding a Forward P/E ratio of 11.05. Its industry sports an average Forward P/E of 11.05, so we one might conclude that Freeport-McMoRan is trading at a no noticeable deviation comparatively.
Investors should also note that FCX has a PEG ratio of 0.38 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. FCX's industry had an average PEG ratio of 1.21 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 243, which puts it in the bottom 4% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.