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In the latest trading session, Freeport-McMoRan (FCX) closed at $40.14, marking a -1.38% move from the previous day. This change lagged the S&P 500's daily gain of 0.47%.
Prior to today's trading, shares of the mining company had lost 4.8% over the past month. This has lagged the Basic Materials sector's loss of 2.29% and the S&P 500's loss of 0.12% in that time.
FCX will be looking to display strength as it nears its next earnings release. On that day, FCX is projected to report earnings of $0.73 per share, which would represent year-over-year growth of 2333.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.7 billion, up 86.54% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.11 per share and revenue of $22.4 billion, which would represent changes of +475.93% and +57.79%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for FCX. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection has moved 10.09% higher. FCX is currently a Zacks Rank #3 (Hold).
Investors should also note FCX's current valuation metrics, including its Forward P/E ratio of 13.09. This valuation marks a discount compared to its industry's average Forward P/E of 16.75.
Meanwhile, FCX's PEG ratio is currently 0.46. 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. The Mining - Non Ferrous was holding an average PEG ratio of 0.64 at yesterday's closing price.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 114, putting it in the top 45% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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FreeportMcMoRan Inc. (FCX) : Free Stock Analysis Report
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