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Freeport-McMoRan (FCX) Stock Moves -0.12%: What You Should Know
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Freeport-McMoRan (FCX - Free Report) closed the most recent trading day at $40.06, moving -0.12% from the previous trading session. This change was narrower than the S&P 500's 0.57% loss on the day. Elsewhere, the Dow lost 0.05%, while the tech-heavy Nasdaq lost 1.04%.
Coming into today, shares of the mining company had lost 2.67% in the past month. In that same time, the Basic Materials sector lost 0.72%, while the S&P 500 gained 0.64%.
Wall Street will be looking for positivity from Freeport-McMoRan as it approaches its next earnings report date. The company is expected to report EPS of $0.38, up 46.15% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.61 billion, up 12.19% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.62 per share and revenue of $23.13 billion, which would represent changes of -33.61% and +1.52%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Freeport-McMoRan. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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 0.5% higher within the past month. Freeport-McMoRan is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Freeport-McMoRan is holding a Forward P/E ratio of 24.79. This represents a premium compared to its industry's average Forward P/E of 20.07.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 90, which puts it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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 -0.12%: What You Should Know
Freeport-McMoRan (FCX - Free Report) closed the most recent trading day at $40.06, moving -0.12% from the previous trading session. This change was narrower than the S&P 500's 0.57% loss on the day. Elsewhere, the Dow lost 0.05%, while the tech-heavy Nasdaq lost 1.04%.
Coming into today, shares of the mining company had lost 2.67% in the past month. In that same time, the Basic Materials sector lost 0.72%, while the S&P 500 gained 0.64%.
Wall Street will be looking for positivity from Freeport-McMoRan as it approaches its next earnings report date. The company is expected to report EPS of $0.38, up 46.15% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.61 billion, up 12.19% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.62 per share and revenue of $23.13 billion, which would represent changes of -33.61% and +1.52%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Freeport-McMoRan. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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 0.5% higher within the past month. Freeport-McMoRan is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Freeport-McMoRan is holding a Forward P/E ratio of 24.79. This represents a premium compared to its industry's average Forward P/E of 20.07.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 90, which puts it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.