Freeport-McMoRan (FCX - Free Report) closed the most recent trading day at $44.33, moving -1.82% from the previous trading session. This change lagged the S&P 500's daily loss of 1.42%. At the same time, the Dow lost 0.49%, and the tech-heavy Nasdaq lost 0.47%.
Prior to today's trading, shares of the mining company had gained 21.21% over the past month. This has outpaced the Basic Materials sector's gain of 7.56% and the S&P 500's gain of 0.39% in that time.
Wall Street will be looking for positivity from Freeport-McMoRan as it approaches its next earnings report date. This is expected to be January 26, 2022. On that day, Freeport-McMoRan is projected to report earnings of $0.93 per share, which would represent year-over-year growth of 144.74%. Meanwhile, our latest consensus estimate is calling for revenue of $6.71 billion, up 49.2% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Freeport-McMoRan. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 9.62% higher. Freeport-McMoRan is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Freeport-McMoRan currently has a Forward P/E ratio of 11.22. Its industry sports an average Forward P/E of 11.22, so we one might conclude that Freeport-McMoRan is trading at a no noticeable deviation comparatively.
It is also worth noting that FCX currently has a PEG ratio of 0.38. 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 industry currently had an average PEG ratio of 0.38 as of yesterday's close.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 180, putting it in the bottom 30% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Freeport-McMoRan (FCX - Free Report) closed the most recent trading day at $44.33, moving -1.82% from the previous trading session. This change lagged the S&P 500's daily loss of 1.42%. At the same time, the Dow lost 0.49%, and the tech-heavy Nasdaq lost 0.47%.
Prior to today's trading, shares of the mining company had gained 21.21% over the past month. This has outpaced the Basic Materials sector's gain of 7.56% and the S&P 500's gain of 0.39% in that time.
Wall Street will be looking for positivity from Freeport-McMoRan as it approaches its next earnings report date. This is expected to be January 26, 2022. On that day, Freeport-McMoRan is projected to report earnings of $0.93 per share, which would represent year-over-year growth of 144.74%. Meanwhile, our latest consensus estimate is calling for revenue of $6.71 billion, up 49.2% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Freeport-McMoRan. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 9.62% higher. Freeport-McMoRan is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Freeport-McMoRan currently has a Forward P/E ratio of 11.22. Its industry sports an average Forward P/E of 11.22, so we one might conclude that Freeport-McMoRan is trading at a no noticeable deviation comparatively.
It is also worth noting that FCX currently has a PEG ratio of 0.38. 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 industry currently had an average PEG ratio of 0.38 as of yesterday's close.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 180, putting it in the bottom 30% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Get the latest research report on FCX - FREE