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Freeport-McMoRan (FCX) Gains As Market Dips: What You Should Know
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In the latest trading session, Freeport-McMoRan (FCX - Free Report) closed at $28.35, marking a +0.89% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.84%. At the same time, the Dow lost 0.36%, and the tech-heavy Nasdaq lost 0.12%.
Heading into today, shares of the mining company had lost 10.28% over the past month, lagging the Basic Materials sector's loss of 6.82% and the S&P 500's loss of 10.24% 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 $0.49 per share. This would mark a year-over-year decline of 44.94%. Our most recent consensus estimate is calling for quarterly revenue of $5.45 billion, down 10.41% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.69 per share and revenue of $23.17 billion. These totals would mark changes of -14.06% and +1.42%, respectively, from last year.
Any recent changes to analyst estimates for Freeport-McMoRan should also be noted by investors. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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. The Zacks Consensus EPS estimate has moved 7.14% lower within the past month. Freeport-McMoRan is currently a Zacks Rank #3 (Hold).
Digging into valuation, Freeport-McMoRan currently has a Forward P/E ratio of 10.43. For comparison, its industry has an average Forward P/E of 9.86, which means Freeport-McMoRan is trading at a premium to the group.
We can also see that FCX currently has a PEG ratio of 0.36. 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 1.11 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 230, putting it in the bottom 9% 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) Gains As Market Dips: What You Should Know
In the latest trading session, Freeport-McMoRan (FCX - Free Report) closed at $28.35, marking a +0.89% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.84%. At the same time, the Dow lost 0.36%, and the tech-heavy Nasdaq lost 0.12%.
Heading into today, shares of the mining company had lost 10.28% over the past month, lagging the Basic Materials sector's loss of 6.82% and the S&P 500's loss of 10.24% 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 $0.49 per share. This would mark a year-over-year decline of 44.94%. Our most recent consensus estimate is calling for quarterly revenue of $5.45 billion, down 10.41% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.69 per share and revenue of $23.17 billion. These totals would mark changes of -14.06% and +1.42%, respectively, from last year.
Any recent changes to analyst estimates for Freeport-McMoRan should also be noted by investors. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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. The Zacks Consensus EPS estimate has moved 7.14% lower within the past month. Freeport-McMoRan is currently a Zacks Rank #3 (Hold).
Digging into valuation, Freeport-McMoRan currently has a Forward P/E ratio of 10.43. For comparison, its industry has an average Forward P/E of 9.86, which means Freeport-McMoRan is trading at a premium to the group.
We can also see that FCX currently has a PEG ratio of 0.36. 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 1.11 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 230, putting it in the bottom 9% 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.