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Freeport-McMoRan (FCX) Dips More Than Broader Markets: What You Should Know
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Freeport-McMoRan (FCX - Free Report) closed at $39.91 in the latest trading session, marking a -0.7% move from the prior day. This change lagged the S&P 500's daily loss of 0.16%. Elsewhere, the Dow lost 0.48%, while the tech-heavy Nasdaq added 0.11%.
Prior to today's trading, shares of the mining company had lost 5.59% over the past month. This has lagged the Basic Materials sector's loss of 3.05% and the S&P 500's loss of 1.25% in that time.
Freeport-McMoRan will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.39, up 50% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.71 billion, up 14.13% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.61 per share and revenue of $23.13 billion. These totals would mark changes of -34.02% and +1.52%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Freeport-McMoRan. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 5.22% higher. Freeport-McMoRan currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Freeport-McMoRan is currently trading at a Forward P/E ratio of 24.9. Its industry sports an average Forward P/E of 21.27, so we one might conclude that Freeport-McMoRan is trading at a premium comparatively.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 191, 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.
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Freeport-McMoRan (FCX) Dips More Than Broader Markets: What You Should Know
Freeport-McMoRan (FCX - Free Report) closed at $39.91 in the latest trading session, marking a -0.7% move from the prior day. This change lagged the S&P 500's daily loss of 0.16%. Elsewhere, the Dow lost 0.48%, while the tech-heavy Nasdaq added 0.11%.
Prior to today's trading, shares of the mining company had lost 5.59% over the past month. This has lagged the Basic Materials sector's loss of 3.05% and the S&P 500's loss of 1.25% in that time.
Freeport-McMoRan will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.39, up 50% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.71 billion, up 14.13% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.61 per share and revenue of $23.13 billion. These totals would mark changes of -34.02% and +1.52%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Freeport-McMoRan. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 5.22% higher. Freeport-McMoRan currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Freeport-McMoRan is currently trading at a Forward P/E ratio of 24.9. Its industry sports an average Forward P/E of 21.27, so we one might conclude that Freeport-McMoRan is trading at a premium comparatively.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 191, 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.