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How Freeport-McMoRan (FCX) Stock Stands Out in a Strong Industry

Zacks Equity Research

One stock that might be an intriguing choice for investors right now is Freeport-McMoRan Inc. FCX. This is because this security in the Mining - Non Ferrous space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.

This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Mining - Non Ferrous space as it currently has a Zacks Industry Rank of 30 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.

Meanwhile, Freeport-McMoRan is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.

Freeport-McMoRan Inc. Price and Consensus

Freeport-McMoRan Inc. Price and Consensus | Freeport-McMoRan Inc. Quote

In fact, over the past month, current quarter estimates have risen from 5 cents per share to 7 cents per share, while current year estimates have risen from 49 cents per share to 50 cents per share. This has helped FCX to earn a Zacks Rank #2 (Buy), further underscoring the company’s solid position. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

So, if you are looking for a decent pick in a strong industry, consider Freeport-McMoRan. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.

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