Freeport-McMoRan Inc. (FCX - Free Report) was a big mover last session, as the company saw its shares rise nearly 15% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This continues the recent uptrend for the company — as the stock is now up 25.8% in the past one-month time frame.
The move came after the company’s second-quarter 2017 revenues beat estimates, along with solid cash balances and a stronger balance sheet.
The company has seen three negative estimate revisions in the past one month, while its Zacks Consensus Estimate has also moved lower over the same time period, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
Freeport-McMoRan currently has a Zacks Rank #4 (Sell), while its Earnings ESP is negative%.
A better-ranked stock in the Mining - Non Ferrous industry is Amerigo Resources Ltd. (ARREF - Free Report) , which currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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