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Freeport-McMoRan (FCX) closed at $34.81 in the latest trading session, marking a +1.28% move from the prior day. This move outpaced the S&P 500's daily loss of 0.46%.
Prior to today's trading, shares of the mining company had lost 11.26% over the past month. This has lagged the Basic Materials sector's loss of 3.35% and the S&P 500's gain of 1.93% in that time.
Investors will be hoping for strength from FCX as it approaches its next earnings release. The company is expected to report EPS of $0.83, up 186.21% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $6.16 billion, up 59.94% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.96 per share and revenue of $22.91 billion. These totals would mark changes of +448.15% and +61.34%, respectively, from last year.
Any recent changes to analyst estimates for FCX should also be noted by investors. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.53% lower. FCX is currently a Zacks Rank #3 (Hold).
In terms of valuation, FCX is currently trading at a Forward P/E ratio of 11.61. Its industry sports an average Forward P/E of 13.41, 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 industry currently has a Zacks Industry Rank of 176, which puts it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow FCX in the coming trading sessions, be sure to utilize Zacks.com.
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FreeportMcMoRan Inc. (FCX) : Free Stock Analysis Report
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