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Freeport-McMoRan (FCX) Stock Moves -0.21%: What You Should Know

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Freeport-McMoRan (FCX - Free Report) closed the most recent trading day at $37.15, moving -0.21% from the previous trading session. This move was narrower than the S&P 500's daily loss of 0.23%. At the same time, the Dow lost 0.31%, and the tech-heavy Nasdaq lost 0.09%.

Coming into today, shares of the mining company had lost 3.05% in the past month. In that same time, the Basic Materials sector lost 2.9%, while the S&P 500 lost 1.43%.

Freeport-McMoRan will be looking to display strength as it nears its next earnings release. In that report, analysts expect Freeport-McMoRan to post earnings of $0.37 per share. This would mark year-over-year growth of 42.31%. Our most recent consensus estimate is calling for quarterly revenue of $5.61 billion, up 12.19% from the year-ago period.

FCX's full-year Zacks Consensus Estimates are calling for earnings of $1.61 per share and revenue of $23.08 billion. These results would represent year-over-year changes of -34.02% and +1.33%, respectively.

Investors should also note any 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.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.12% lower within the past month. 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 23.1. This represents a premium compared to its industry's average Forward P/E of 22.06.

The Mining - Non Ferrous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 92, putting it in the top 37% 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.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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