We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Has FreeportMcMoRan (FCX) Outpaced Other Basic Materials Stocks This Year?
Read MoreHide Full Article
Investors focused on the Basic Materials space have likely heard of FreeportMcMoRan (FCX - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question.
FreeportMcMoRan is one of 245 individual stocks in the Basic Materials sector. Collectively, these companies sit at #6 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. FCX is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for FCX's full-year earnings has moved 27.09% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that FCX has returned about 40.24% since the start of the calendar year. In comparison, Basic Materials companies have returned an average of 18.13%. As we can see, FreeportMcMoRan is performing better than its sector in the calendar year.
Looking more specifically, FCX belongs to the Mining - Non Ferrous industry, which includes 9 individual stocks and currently sits at #44 in the Zacks Industry Rank. Stocks in this group have gained about 13.91% so far this year, so FCX is performing better this group in terms of year-to-date returns.
Investors in the Basic Materials sector will want to keep a close eye on FCX as it attempts to continue its solid performance.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Has FreeportMcMoRan (FCX) Outpaced Other Basic Materials Stocks This Year?
Investors focused on the Basic Materials space have likely heard of FreeportMcMoRan (FCX - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question.
FreeportMcMoRan is one of 245 individual stocks in the Basic Materials sector. Collectively, these companies sit at #6 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. FCX is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for FCX's full-year earnings has moved 27.09% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that FCX has returned about 40.24% since the start of the calendar year. In comparison, Basic Materials companies have returned an average of 18.13%. As we can see, FreeportMcMoRan is performing better than its sector in the calendar year.
Looking more specifically, FCX belongs to the Mining - Non Ferrous industry, which includes 9 individual stocks and currently sits at #44 in the Zacks Industry Rank. Stocks in this group have gained about 13.91% so far this year, so FCX is performing better this group in terms of year-to-date returns.
Investors in the Basic Materials sector will want to keep a close eye on FCX as it attempts to continue its solid performance.