We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Freeport-McMoRan (FCX) Rises As Market Takes a Dip: Key Facts
Read MoreHide Full Article
In the latest trading session, Freeport-McMoRan (FCX - Free Report) closed at $50.38, marking a +1.65% move from the previous day. This move outpaced the S&P 500's daily loss of 0.31%. Elsewhere, the Dow gained 0.67%, while the tech-heavy Nasdaq lost 1.09%.
Shares of the mining company witnessed a loss of 3.82% over the previous month, beating the performance of the Basic Materials sector with its loss of 6.38% and underperforming the S&P 500's gain of 2.73%.
Analysts and investors alike will be keeping a close eye on the performance of Freeport-McMoRan in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.46, signifying a 31.43% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.17 billion, up 7.52% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.72 per share and revenue of $25.36 billion, indicating changes of +11.69% and +10.96%, respectively, compared to the previous year.
It is also important to note the 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.
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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 3.55% increase. Freeport-McMoRan presently features a Zacks Rank of #3 (Hold).
Digging into valuation, Freeport-McMoRan currently has a Forward P/E ratio of 28.83. This expresses a premium compared to the average Forward P/E of 15.68 of its industry.
It's also important to note that FCX currently trades at a PEG ratio of 2.15. 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. Mining - Non Ferrous stocks are, on average, holding a PEG ratio of 0.78 based on yesterday's closing prices.
The Mining - Non Ferrous industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 51, placing it within the top 21% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Freeport-McMoRan (FCX) Rises As Market Takes a Dip: Key Facts
In the latest trading session, Freeport-McMoRan (FCX - Free Report) closed at $50.38, marking a +1.65% move from the previous day. This move outpaced the S&P 500's daily loss of 0.31%. Elsewhere, the Dow gained 0.67%, while the tech-heavy Nasdaq lost 1.09%.
Shares of the mining company witnessed a loss of 3.82% over the previous month, beating the performance of the Basic Materials sector with its loss of 6.38% and underperforming the S&P 500's gain of 2.73%.
Analysts and investors alike will be keeping a close eye on the performance of Freeport-McMoRan in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.46, signifying a 31.43% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.17 billion, up 7.52% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.72 per share and revenue of $25.36 billion, indicating changes of +11.69% and +10.96%, respectively, compared to the previous year.
It is also important to note the 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.
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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 3.55% increase. Freeport-McMoRan presently features a Zacks Rank of #3 (Hold).
Digging into valuation, Freeport-McMoRan currently has a Forward P/E ratio of 28.83. This expresses a premium compared to the average Forward P/E of 15.68 of its industry.
It's also important to note that FCX currently trades at a PEG ratio of 2.15. 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. Mining - Non Ferrous stocks are, on average, holding a PEG ratio of 0.78 based on yesterday's closing prices.
The Mining - Non Ferrous industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 51, placing it within the top 21% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.