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Freeport-McMoRan (FCX) closed at $42.72 in the latest trading session, marking a +0.31% move from the prior day. This move outpaced the S&P 500's daily gain of 0.08%.
Heading into today, shares of the mining company had gained 10.91% over the past month, outpacing the Basic Materials sector's gain of 4.56% and the S&P 500's gain of 0.41% in that time.
FCX will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.73, up 2333.33% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.48 billion, up 79.55% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.05 per share and revenue of $21.96 billion. These totals would mark changes of +464.81% and +54.67%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for FCX. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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 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. The Zacks Consensus EPS estimate has moved 4.41% higher within the past month. FCX is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, FCX is holding a Forward P/E ratio of 13.98. This valuation marks a discount compared to its industry's average Forward P/E of 15.44.
Meanwhile, FCX's PEG ratio is currently 0.49. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Mining - Non Ferrous stocks are, on average, holding a PEG ratio of 0.67 based on yesterday's closing prices.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 96, which puts it in the top 38% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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FreeportMcMoRan Inc. (FCX) : Free Stock Analysis Report
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