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Freeport-McMoRan (FCX) Stock Sinks As Market Gains: What You Should Know
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Freeport-McMoRan (FCX - Free Report) closed the most recent trading day at $37.09, moving -0.05% from the previous trading session. This change lagged the S&P 500's daily gain of 0.52%.
Coming into today, shares of the mining company had lost 14.38% in the past month. In that same time, the Basic Materials sector lost 4.56%, while the S&P 500 gained 2.25%.
FCX will be looking to display strength as it nears its next earnings release. In that report, analysts expect FCX to post earnings of $0.53 per share. This would mark year-over-year growth of 1666.67%. Meanwhile, our latest consensus estimate is calling for revenue of $5.84 billion, up 91.09% from the prior-year quarter.
FCX's full-year Zacks Consensus Estimates are calling for earnings of $3.19 per share and revenue of $23.5 billion. These results would represent year-over-year changes of +490.74% and +65.5%, respectively.
Investors might also notice recent changes to analyst estimates for FCX. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate has moved 3.82% higher. FCX is currently sporting a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that FCX has a Forward P/E ratio of 11.64 right now. This represents a discount compared to its industry's average Forward P/E of 15.45.
Investors should also note that FCX has a PEG ratio of 0.41 right now. 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 0.59 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 70, putting it in the top 28% 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) Stock Sinks As Market Gains: What You Should Know
Freeport-McMoRan (FCX - Free Report) closed the most recent trading day at $37.09, moving -0.05% from the previous trading session. This change lagged the S&P 500's daily gain of 0.52%.
Coming into today, shares of the mining company had lost 14.38% in the past month. In that same time, the Basic Materials sector lost 4.56%, while the S&P 500 gained 2.25%.
FCX will be looking to display strength as it nears its next earnings release. In that report, analysts expect FCX to post earnings of $0.53 per share. This would mark year-over-year growth of 1666.67%. Meanwhile, our latest consensus estimate is calling for revenue of $5.84 billion, up 91.09% from the prior-year quarter.
FCX's full-year Zacks Consensus Estimates are calling for earnings of $3.19 per share and revenue of $23.5 billion. These results would represent year-over-year changes of +490.74% and +65.5%, respectively.
Investors might also notice recent changes to analyst estimates for FCX. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate has moved 3.82% higher. FCX is currently sporting a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that FCX has a Forward P/E ratio of 11.64 right now. This represents a discount compared to its industry's average Forward P/E of 15.45.
Investors should also note that FCX has a PEG ratio of 0.41 right now. 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 0.59 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 70, putting it in the top 28% 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.