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Freeport-McMoRan (FCX) Gains As Market Dips: What You Should Know
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Freeport-McMoRan (FCX - Free Report) closed at $38.55 in the latest trading session, marking a +0.23% move from the prior day. This move outpaced the S&P 500's daily loss of 0.19%. At the same time, the Dow added 0.01%, and the tech-heavy Nasdaq lost 0.09%.
Coming into today, shares of the mining company had gained 8.46% in the past month. In that same time, the Basic Materials sector gained 9.51%, while the S&P 500 gained 4.7%.
Wall Street will be looking for positivity from Freeport-McMoRan as it approaches its next earnings report date. On that day, Freeport-McMoRan is projected to report earnings of $0.35 per share, which would represent a year-over-year decline of 63.54%. Our most recent consensus estimate is calling for quarterly revenue of $5.35 billion, down 13.21% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.29 per share and revenue of $22.4 billion. These totals would mark changes of -26.84% and -1.94%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Freeport-McMoRan. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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, the Zacks Consensus EPS estimate has moved 2.75% lower. Freeport-McMoRan is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Freeport-McMoRan is holding a Forward P/E ratio of 16.77. This represents a premium compared to its industry's average Forward P/E of 15.25.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 202, putting it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Freeport-McMoRan (FCX) Gains As Market Dips: What You Should Know
Freeport-McMoRan (FCX - Free Report) closed at $38.55 in the latest trading session, marking a +0.23% move from the prior day. This move outpaced the S&P 500's daily loss of 0.19%. At the same time, the Dow added 0.01%, and the tech-heavy Nasdaq lost 0.09%.
Coming into today, shares of the mining company had gained 8.46% in the past month. In that same time, the Basic Materials sector gained 9.51%, while the S&P 500 gained 4.7%.
Wall Street will be looking for positivity from Freeport-McMoRan as it approaches its next earnings report date. On that day, Freeport-McMoRan is projected to report earnings of $0.35 per share, which would represent a year-over-year decline of 63.54%. Our most recent consensus estimate is calling for quarterly revenue of $5.35 billion, down 13.21% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.29 per share and revenue of $22.4 billion. These totals would mark changes of -26.84% and -1.94%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Freeport-McMoRan. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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, the Zacks Consensus EPS estimate has moved 2.75% lower. Freeport-McMoRan is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Freeport-McMoRan is holding a Forward P/E ratio of 16.77. This represents a premium compared to its industry's average Forward P/E of 15.25.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 202, putting it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.