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Freeport-McMoRan (FCX) Stock Moves -0.11%: What You Should Know
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Freeport-McMoRan (FCX - Free Report) closed the most recent trading day at $37.29, moving -0.11% from the previous trading session. This move was narrower than the S&P 500's daily loss of 0.27%. At the same time, the Dow lost 0.47%, and the tech-heavy Nasdaq gained 0.14%.
Heading into today, shares of the mining company had lost 6.46% over the past month, lagging the Basic Materials sector's gain of 1.04% and the S&P 500's loss of 2.86% 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 $0.37 per share. This would mark year-over-year growth of 42.31%. Our most recent consensus estimate is calling for quarterly revenue of $5.55 billion, up 10.9% from the year-ago period.
FCX's full-year Zacks Consensus Estimates are calling for earnings of $1.61 per share and revenue of $23.08 billion. These results would represent year-over-year changes of -34.02% and +1.33%, 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 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. 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, 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 0.12% lower. Freeport-McMoRan is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Freeport-McMoRan has a Forward P/E ratio of 23.16 right now. This valuation marks a premium compared to its industry's average Forward P/E of 22.03.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 89, putting it in the top 36% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Freeport-McMoRan (FCX) Stock Moves -0.11%: What You Should Know
Freeport-McMoRan (FCX - Free Report) closed the most recent trading day at $37.29, moving -0.11% from the previous trading session. This move was narrower than the S&P 500's daily loss of 0.27%. At the same time, the Dow lost 0.47%, and the tech-heavy Nasdaq gained 0.14%.
Heading into today, shares of the mining company had lost 6.46% over the past month, lagging the Basic Materials sector's gain of 1.04% and the S&P 500's loss of 2.86% 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 $0.37 per share. This would mark year-over-year growth of 42.31%. Our most recent consensus estimate is calling for quarterly revenue of $5.55 billion, up 10.9% from the year-ago period.
FCX's full-year Zacks Consensus Estimates are calling for earnings of $1.61 per share and revenue of $23.08 billion. These results would represent year-over-year changes of -34.02% and +1.33%, 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 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. 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, 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 0.12% lower. Freeport-McMoRan is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Freeport-McMoRan has a Forward P/E ratio of 23.16 right now. This valuation marks a premium compared to its industry's average Forward P/E of 22.03.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 89, putting it in the top 36% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.