Freeport-McMoRan (FCX) Stock Dips While Market Gains: Key Facts
Freeport-McMoRan (FCX) closed the most recent trading day at $41.35, moving -0.36% from the previous trading session. This move lagged the S&P 500's daily gain of 0.45%.
Market participants will be closely following the financial results of Freeport-McMoRan in its upcoming release. In that report, analysts expect Freeport-McMoRan to post earnings of $0.32 per share. This would mark a year-over-year decline of 38.46%. At the same time, our most recent consensus estimate is projecting a revenue of $5.82 billion, reflecting a 1.16% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.54 per share and a revenue of $22.85 billion, indicating changes of -36.89% and +0.32%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Freeport-McMoRan. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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, there's been a 6.44% rise in the Zacks Consensus EPS estimate. As of now, Freeport-McMoRan holds a Zacks Rank of #5 (Strong Sell).
With respect to valuation, Freeport-McMoRan is currently being traded at a Forward P/E ratio of 26.98. This represents a premium compared to its industry's average Forward P/E of 19.76.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 233, finds itself in the bottom 8% echelons 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Freeport-McMoRan Inc. (FCX) : Free Stock Analysis Report
