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Freeport-McMoRan (FCX) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Freeport-McMoRan (FCX - Free Report) closed at $37.25, marking a -1.87% move from the previous day. This move lagged the S&P 500's daily gain of 1.64%. At the same time, the Dow added 1.08%, and the tech-heavy Nasdaq gained 0.45%.
Heading into today, shares of the mining company had lost 4.14% over the past month, outpacing the Basic Materials sector's loss of 4.33% and lagging the S&P 500's loss of 0.83% in that time.
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 $0.84 per share, which would represent year-over-year growth of 121.05%. Our most recent consensus estimate is calling for quarterly revenue of $6.71 billion, up 49.2% from the year-ago period.
FCX's full-year Zacks Consensus Estimates are calling for earnings of $3.01 per share and revenue of $23.51 billion. These results would represent year-over-year changes of +457.41% and +65.61%, respectively.
Investors might also notice recent changes to analyst estimates for Freeport-McMoRan. Recent revisions tend to reflect the latest near-term business trends. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 2.48% higher. Freeport-McMoRan is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Freeport-McMoRan is currently trading at a Forward P/E ratio of 12.61. Its industry sports an average Forward P/E of 10.01, so we one might conclude that Freeport-McMoRan is trading at a premium comparatively.
Investors should also note that FCX has a PEG ratio of 0.43 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Mining - Non Ferrous industry currently had an average PEG ratio of 0.43 as of yesterday's close.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 185, which puts it in the bottom 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Freeport-McMoRan (FCX) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Freeport-McMoRan (FCX - Free Report) closed at $37.25, marking a -1.87% move from the previous day. This move lagged the S&P 500's daily gain of 1.64%. At the same time, the Dow added 1.08%, and the tech-heavy Nasdaq gained 0.45%.
Heading into today, shares of the mining company had lost 4.14% over the past month, outpacing the Basic Materials sector's loss of 4.33% and lagging the S&P 500's loss of 0.83% in that time.
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 $0.84 per share, which would represent year-over-year growth of 121.05%. Our most recent consensus estimate is calling for quarterly revenue of $6.71 billion, up 49.2% from the year-ago period.
FCX's full-year Zacks Consensus Estimates are calling for earnings of $3.01 per share and revenue of $23.51 billion. These results would represent year-over-year changes of +457.41% and +65.61%, respectively.
Investors might also notice recent changes to analyst estimates for Freeport-McMoRan. Recent revisions tend to reflect the latest near-term business trends. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 2.48% higher. Freeport-McMoRan is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Freeport-McMoRan is currently trading at a Forward P/E ratio of 12.61. Its industry sports an average Forward P/E of 10.01, so we one might conclude that Freeport-McMoRan is trading at a premium comparatively.
Investors should also note that FCX has a PEG ratio of 0.43 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Mining - Non Ferrous industry currently had an average PEG ratio of 0.43 as of yesterday's close.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 185, which puts it in the bottom 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.