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Why Freeport-McMoRan (FCX) is a Top Growth Stock for the Long-Term

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For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.

Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.

Why This 1 Growth Stock Should Be On Your Watchlist

Growth investors build their portfolios around companies that are financially strong and have a bright future, and the Growth Style Score helps take projected and historical earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.

Freeport-McMoRan (FCX)

Based in Phoenix, AZ, Freeport-McMoRan Inc., formerly Freeport-McMoRan Copper & Gold Inc., is engaged in mineral exploration and development; mining and milling of copper, gold, molybdenum and silver; as well as the smelting and refining of copper concentrates. The company conducts its operations primarily through its principal operating subsidiaries, PT Freeport Indonesia (PT-FI), Freeport-McMoRan Corporation (formerly Phelps Dodge) and Atlantic Copper. PT Freeport Indonesia’s principal asset is Papua, Indonesia-based Grasberg mine, which contains the world’s largest copper and gold reserves.

FCX sits at a Zacks Rank #3 (Hold), holds a Growth Style Score of A, and has a VGM Score of A. Earnings and sales are forecasted to increase 24% and 17.5% year-over-year, respectively.

Five analysts revised their earnings estimate higher in the last 60 days for fiscal 2022, while the Zacks Consensus Estimate has increased $0.11 to $3.88 per share. FCX also boasts an average earnings surprise of 10%.

On a historic basis, Freeport-McMoRan has generated cash flow growth of 17.8%, and is expected to report cash flow expansion of 186.2% this year.

FCX should be on investors' short lists because of its impressive growth fundamentals, a good Zacks Rank, and strong Growth and VGM Style Scores.


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