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Freeport-McMoRan (FCX) Stock Moves -0.77%: What You Should Know
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Freeport-McMoRan (FCX - Free Report) closed at $30.78 in the latest trading session, marking a -0.77% move from the prior day. This move was narrower than the S&P 500's daily loss of 2.01%. Meanwhile, the Dow lost 1.56%, and the Nasdaq, a tech-heavy index, lost 0.2%.
Heading into today, shares of the mining company had lost 21.77% over the past month, lagging the Basic Materials sector's loss of 15.03% and the S&P 500's loss of 6.08% in that time.
Investors will be hoping for strength from Freeport-McMoRan as it approaches its next earnings release. The company is expected to report EPS of $0.97, up 25.97% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.7 billion, up 16.6% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.92 per share and revenue of $26.73 billion, which would represent changes of +25.24% and +17.01%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Freeport-McMoRan. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Freeport-McMoRan is currently a Zacks Rank #3 (Hold).
Investors should also note Freeport-McMoRan's current valuation metrics, including its Forward P/E ratio of 7.91. This valuation marks a premium compared to its industry's average Forward P/E of 6.83.
Investors should also note that FCX has a PEG ratio of 0.27 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 was holding an average PEG ratio of 0.89 at yesterday's closing price.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 80, which puts it in the top 32% 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 Moves -0.77%: What You Should Know
Freeport-McMoRan (FCX - Free Report) closed at $30.78 in the latest trading session, marking a -0.77% move from the prior day. This move was narrower than the S&P 500's daily loss of 2.01%. Meanwhile, the Dow lost 1.56%, and the Nasdaq, a tech-heavy index, lost 0.2%.
Heading into today, shares of the mining company had lost 21.77% over the past month, lagging the Basic Materials sector's loss of 15.03% and the S&P 500's loss of 6.08% in that time.
Investors will be hoping for strength from Freeport-McMoRan as it approaches its next earnings release. The company is expected to report EPS of $0.97, up 25.97% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.7 billion, up 16.6% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.92 per share and revenue of $26.73 billion, which would represent changes of +25.24% and +17.01%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Freeport-McMoRan. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Freeport-McMoRan is currently a Zacks Rank #3 (Hold).
Investors should also note Freeport-McMoRan's current valuation metrics, including its Forward P/E ratio of 7.91. This valuation marks a premium compared to its industry's average Forward P/E of 6.83.
Investors should also note that FCX has a PEG ratio of 0.27 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 was holding an average PEG ratio of 0.89 at yesterday's closing price.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 80, which puts it in the top 32% 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.