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Why Freeport-McMoRan (FCX) Could Be Positioned for a Surge?
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Freeport-McMoRan Inc. (FCX - Free Report) is a mining company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on FCX’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Freeport could be a solid choice for investors.
Current Quarter Estimates for FCX
In the past 30 days, 3 estimates have gone higher for Freeport while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates rising from 26 cents a share 30 days ago, to 29 cents per share today, a move of 11.5%.
Current Year Estimates for FCX
Meanwhile, Freeport’s current year figures are also looking quite promising, with 4 estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, rising from 22 cents per share 30 days ago to 26 cents per share today, an increase of 18.2%.
The stock has also started to move higher lately, adding 5.5% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Why Freeport-McMoRan (FCX) Could Be Positioned for a Surge?
Freeport-McMoRan Inc. (FCX - Free Report) is a mining company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on FCX’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Freeport could be a solid choice for investors.
Current Quarter Estimates for FCX
In the past 30 days, 3 estimates have gone higher for Freeport while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates rising from 26 cents a share 30 days ago, to 29 cents per share today, a move of 11.5%.
Current Year Estimates for FCX
Meanwhile, Freeport’s current year figures are also looking quite promising, with 4 estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, rising from 22 cents per share 30 days ago to 26 cents per share today, an increase of 18.2%.
Freeport-McMoran, Inc. Price and Consensus
Freeport-McMoran, Inc. Price and Consensus | Freeport-McMoran, Inc. Quote
Bottom Line
The stock has also started to move higher lately, adding 5.5% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks’ Best Private Investment Ideas
While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public.
Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Click here for Zacks' private trades >>