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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 $28.12 in the latest trading session, marking a -0.64% move from the prior day. This move lagged the S&P 500's daily loss of 0.41%.
Heading into today, shares of the mining company had lost 7.58% over the past month, lagging the Basic Materials sector's loss of 2.65% and the S&P 500's loss of 5.13% in that time.
Investors will be hoping for strength from Freeport-McMoRan as it approaches 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.
FCX's full-year Zacks Consensus Estimates are calling for earnings of $2.69 per share and revenue of $24.81 billion. These results would represent year-over-year changes of -14.06% and +8.61%, respectively.
Any recent changes to analyst estimates for Freeport-McMoRan should also be noted by investors. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 12.31% lower. Freeport-McMoRan is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Freeport-McMoRan's current valuation metrics, including its Forward P/E ratio of 10.51. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 10.51.
Meanwhile, FCX's PEG ratio is currently 0.36. 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 1.08 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 243, putting it in the bottom 4% 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 $28.12 in the latest trading session, marking a -0.64% move from the prior day. This move lagged the S&P 500's daily loss of 0.41%.
Heading into today, shares of the mining company had lost 7.58% over the past month, lagging the Basic Materials sector's loss of 2.65% and the S&P 500's loss of 5.13% in that time.
Investors will be hoping for strength from Freeport-McMoRan as it approaches 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.
FCX's full-year Zacks Consensus Estimates are calling for earnings of $2.69 per share and revenue of $24.81 billion. These results would represent year-over-year changes of -14.06% and +8.61%, respectively.
Any recent changes to analyst estimates for Freeport-McMoRan should also be noted by investors. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 12.31% lower. Freeport-McMoRan is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Freeport-McMoRan's current valuation metrics, including its Forward P/E ratio of 10.51. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 10.51.
Meanwhile, FCX's PEG ratio is currently 0.36. 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 1.08 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 243, putting it in the bottom 4% 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.