We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
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
In the latest trading session, Freeport-McMoRan (FCX - Free Report) closed at $38.33, marking a -0.18% move from the previous day. This move lagged the S&P 500's daily gain of 0.67%. At the same time, the Dow added 0.73%, and the tech-heavy Nasdaq gained 0.94%.
Coming into today, shares of the mining company had lost 11.3% in the past month. In that same time, the Basic Materials sector lost 4.28%, while the S&P 500 lost 3.8%.
Investors will be hoping for strength from Freeport-McMoRan as it approaches its next earnings release. In that report, analysts expect Freeport-McMoRan to post earnings of $0.39 per share. This would mark year-over-year growth of 50%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.71 billion, up 14.13% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.61 per share and revenue of $23.13 billion, which would represent changes of -34.02% and +1.52%, respectively, from the prior year.
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.
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. The Zacks Consensus EPS estimate has moved 5.22% higher within the past month. Freeport-McMoRan is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Freeport-McMoRan has a Forward P/E ratio of 23.79 right now. For comparison, its industry has an average Forward P/E of 19.87, 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 industry currently has a Zacks Industry Rank of 204, which puts it in the bottom 20% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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
In the latest trading session, Freeport-McMoRan (FCX - Free Report) closed at $38.33, marking a -0.18% move from the previous day. This move lagged the S&P 500's daily gain of 0.67%. At the same time, the Dow added 0.73%, and the tech-heavy Nasdaq gained 0.94%.
Coming into today, shares of the mining company had lost 11.3% in the past month. In that same time, the Basic Materials sector lost 4.28%, while the S&P 500 lost 3.8%.
Investors will be hoping for strength from Freeport-McMoRan as it approaches its next earnings release. In that report, analysts expect Freeport-McMoRan to post earnings of $0.39 per share. This would mark year-over-year growth of 50%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.71 billion, up 14.13% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.61 per share and revenue of $23.13 billion, which would represent changes of -34.02% and +1.52%, respectively, from the prior year.
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.
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. The Zacks Consensus EPS estimate has moved 5.22% higher within the past month. Freeport-McMoRan is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Freeport-McMoRan has a Forward P/E ratio of 23.79 right now. For comparison, its industry has an average Forward P/E of 19.87, 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 industry currently has a Zacks Industry Rank of 204, which puts it in the bottom 20% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.