Back to top

Image: Bigstock

Why Freeport-McMoRan (FCX) Stock Might be a Great Pick

Read MoreHide Full Article

One stock that might be an intriguing choice for investors right now is Freeport-McMoRan Inc. (FCX - Free Report) . 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 68 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.

In fact, over the past month, current quarter estimates have risen from 70 cents per share to 77 cents per share, while current year estimates have risen from $2.84 per share to $3.18 per share. The company currently carries a Zacks Rank #3 (Hold), which is also a favorable signal. 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.

Bitcoin, Like the Internet Itself, Could Change Everything

Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.

Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.

See 3 crypto-related stocks now >>


In-Depth Zacks Research for the Tickers Above


Normally $25 each - click below to receive one report FREE:


FreeportMcMoRan Inc. (FCX) - free report >>