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Freeport-McMoRan (FCX) closed the most recent trading day at $36.14, moving -0.36% from the previous trading session. This move lagged the S&P 500's daily loss of 0.03%.
Heading into today, shares of the mining company had gained 1.17% over the past month, outpacing the Basic Materials sector's loss of 2.44% and lagging the S&P 500's gain of 3.59% in that time.
Investors will be hoping for strength from FCX as it approaches its next earnings release. In that report, analysts expect FCX to post earnings of $0.85 per share. This would mark year-over-year growth of 193.1%. Meanwhile, our latest consensus estimate is calling for revenue of $6.3 billion, up 63.54% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.02 per share and revenue of $22.96 billion, which would represent changes of +459.26% and +61.7%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for FCX. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.52% lower within the past month. FCX currently has a Zacks Rank of #3 (Hold).
Digging into valuation, FCX currently has a Forward P/E ratio of 11.99. Its industry sports an average Forward P/E of 12.92, so we one might conclude that FCX is trading at a discount comparatively.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 177, putting it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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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FreeportMcMoRan Inc. (FCX) : Free Stock Analysis Report
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