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Freeport-McMoRan (FCX) Stock Moves -0.27%: What You Should Know
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Freeport-McMoRan (FCX - Free Report) closed the most recent trading day at $29.18, moving -0.27% from the previous trading session. This move was narrower than the S&P 500's daily loss of 0.65%. Elsewhere, the Dow gained 0.12%, while the tech-heavy Nasdaq added 0.03%.
Heading into today, shares of the mining company had lost 9.05% over the past month, lagging the Basic Materials sector's loss of 8.56% and outpacing the S&P 500's loss of 11.07% in that time.
Wall Street will be looking for positivity from Freeport-McMoRan as it approaches its next earnings report date. This is expected to be October 20, 2022. In that report, analysts expect Freeport-McMoRan to post earnings of $0.40 per share. This would mark a year-over-year decline of 55.06%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.41 billion, down 11.05% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.56 per share and revenue of $23.03 billion. These totals would mark changes of -18.21% and +0.83%, respectively, from last 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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate has moved 4.77% lower. Freeport-McMoRan is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Freeport-McMoRan is currently trading at a Forward P/E ratio of 11.45. This represents a premium compared to its industry's average Forward P/E of 10.39.
It is also worth noting that FCX currently has a PEG ratio of 0.39. 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. The Mining - Non Ferrous was holding an average PEG ratio of 1.12 at yesterday's closing price.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 178, which puts it in the bottom 30% 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) Stock Moves -0.27%: What You Should Know
Freeport-McMoRan (FCX - Free Report) closed the most recent trading day at $29.18, moving -0.27% from the previous trading session. This move was narrower than the S&P 500's daily loss of 0.65%. Elsewhere, the Dow gained 0.12%, while the tech-heavy Nasdaq added 0.03%.
Heading into today, shares of the mining company had lost 9.05% over the past month, lagging the Basic Materials sector's loss of 8.56% and outpacing the S&P 500's loss of 11.07% in that time.
Wall Street will be looking for positivity from Freeport-McMoRan as it approaches its next earnings report date. This is expected to be October 20, 2022. In that report, analysts expect Freeport-McMoRan to post earnings of $0.40 per share. This would mark a year-over-year decline of 55.06%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.41 billion, down 11.05% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.56 per share and revenue of $23.03 billion. These totals would mark changes of -18.21% and +0.83%, respectively, from last 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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate has moved 4.77% lower. Freeport-McMoRan is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Freeport-McMoRan is currently trading at a Forward P/E ratio of 11.45. This represents a premium compared to its industry's average Forward P/E of 10.39.
It is also worth noting that FCX currently has a PEG ratio of 0.39. 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. The Mining - Non Ferrous was holding an average PEG ratio of 1.12 at yesterday's closing price.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 178, which puts it in the bottom 30% 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.