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.
Freeport-McMoRan (FCX) Outpaces Stock Market Gains: What You Should Know
Read MoreHide Full Article
Freeport-McMoRan (FCX - Free Report) closed the most recent trading day at $39.26, moving +0.98% from the previous trading session. This change outpaced the S&P 500's 0.73% gain on the day. At the same time, the Dow added 0.31%, and the tech-heavy Nasdaq gained 0.16%.
Heading into today, shares of the mining company had gained 2.61% over the past month, outpacing the Basic Materials sector's gain of 0.55% and the S&P 500's gain of 0.09% in that time.
Investors will be hoping for strength from Freeport-McMoRan as it approaches its next earnings release. On that day, Freeport-McMoRan is projected to report earnings of $0.36 per share, which would represent a year-over-year decline of 62.5%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.35 billion, down 13.21% from the year-ago period.
FCX's full-year Zacks Consensus Estimates are calling for earnings of $2.28 per share and revenue of $22.46 billion. These results would represent year-over-year changes of -27.16% and -1.68%, respectively.
Investors should also note any recent changes to analyst estimates for Freeport-McMoRan. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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 2.42% lower. Freeport-McMoRan is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Freeport-McMoRan is currently trading at a Forward P/E ratio of 17.07. This represents a premium compared to its industry's average Forward P/E of 16.01.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 189, which puts it in the bottom 25% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow FCX in the coming trading sessions, be sure to utilize Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Freeport-McMoRan (FCX) Outpaces Stock Market Gains: What You Should Know
Freeport-McMoRan (FCX - Free Report) closed the most recent trading day at $39.26, moving +0.98% from the previous trading session. This change outpaced the S&P 500's 0.73% gain on the day. At the same time, the Dow added 0.31%, and the tech-heavy Nasdaq gained 0.16%.
Heading into today, shares of the mining company had gained 2.61% over the past month, outpacing the Basic Materials sector's gain of 0.55% and the S&P 500's gain of 0.09% in that time.
Investors will be hoping for strength from Freeport-McMoRan as it approaches its next earnings release. On that day, Freeport-McMoRan is projected to report earnings of $0.36 per share, which would represent a year-over-year decline of 62.5%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.35 billion, down 13.21% from the year-ago period.
FCX's full-year Zacks Consensus Estimates are calling for earnings of $2.28 per share and revenue of $22.46 billion. These results would represent year-over-year changes of -27.16% and -1.68%, respectively.
Investors should also note any recent changes to analyst estimates for Freeport-McMoRan. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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 2.42% lower. Freeport-McMoRan is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Freeport-McMoRan is currently trading at a Forward P/E ratio of 17.07. This represents a premium compared to its industry's average Forward P/E of 16.01.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 189, which puts it in the bottom 25% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow FCX in the coming trading sessions, be sure to utilize Zacks.com.