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) Stock Sinks As Market Gains: What You Should Know
Read MoreHide Full Article
Freeport-McMoRan (FCX - Free Report) closed the most recent trading day at $37.82, moving -0.18% from the previous trading session. This change lagged the S&P 500's 0.93% gain on the day. Meanwhile, the Dow gained 0.56%, and the Nasdaq, a tech-heavy index, added 1.71%.
Coming into today, shares of the mining company had gained 8.29% in the past month. In that same time, the Basic Materials sector lost 1.54%, while the S&P 500 gained 4.61%.
Investors will be hoping for strength from Freeport-McMoRan as it approaches its next earnings release. The company is expected to report EPS of $0.43, down 25.86% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $6 billion, up 10.7% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.92 per share and revenue of $23.98 billion, which would represent changes of -21.31% and +5.26%, respectively, from the prior year.
Any recent changes to analyst estimates for Freeport-McMoRan should also be noted by investors. Recent revisions tend to reflect the latest 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. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 5.02% lower within the past month. Freeport-McMoRan currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Freeport-McMoRan is holding a Forward P/E ratio of 19.7. For comparison, its industry has an average Forward P/E of 15.62, which means Freeport-McMoRan is trading at a premium to the group.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 82, putting it in the top 33% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Freeport-McMoRan (FCX) Stock Sinks As Market Gains: What You Should Know
Freeport-McMoRan (FCX - Free Report) closed the most recent trading day at $37.82, moving -0.18% from the previous trading session. This change lagged the S&P 500's 0.93% gain on the day. Meanwhile, the Dow gained 0.56%, and the Nasdaq, a tech-heavy index, added 1.71%.
Coming into today, shares of the mining company had gained 8.29% in the past month. In that same time, the Basic Materials sector lost 1.54%, while the S&P 500 gained 4.61%.
Investors will be hoping for strength from Freeport-McMoRan as it approaches its next earnings release. The company is expected to report EPS of $0.43, down 25.86% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $6 billion, up 10.7% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.92 per share and revenue of $23.98 billion, which would represent changes of -21.31% and +5.26%, respectively, from the prior year.
Any recent changes to analyst estimates for Freeport-McMoRan should also be noted by investors. Recent revisions tend to reflect the latest 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. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 5.02% lower within the past month. Freeport-McMoRan currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Freeport-McMoRan is holding a Forward P/E ratio of 19.7. For comparison, its industry has an average Forward P/E of 15.62, which means Freeport-McMoRan is trading at a premium to the group.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 82, putting it in the top 33% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.