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Freeport-McMoRan (FCX) Rises As Market Takes a Dip: Key Facts
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Freeport-McMoRan (FCX - Free Report) closed at $60.35 in the latest trading session, marking a +1.7% move from the prior day. The stock's change was more than the S&P 500's daily loss of 0.53%. On the other hand, the Dow registered a loss of 0.09%, and the technology-centric Nasdaq decreased by 1%.
Shares of the mining company have appreciated by 24.82% over the course of the past month, outperforming the Basic Materials sector's gain of 7.23%, and the S&P 500's gain of 2.06%.
The upcoming earnings release of Freeport-McMoRan will be of great interest to investors. In that report, analysts expect Freeport-McMoRan to post earnings of $0.28 per share. This would mark a year-over-year decline of 9.68%. Meanwhile, our latest consensus estimate is calling for revenue of $5.05 billion, down 11.7% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.55 per share and revenue of $25.29 billion. These totals would mark changes of +4.73% and 0%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Freeport-McMoRan. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 17.35% higher. Freeport-McMoRan currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Freeport-McMoRan is holding a Forward P/E ratio of 26.75. This expresses a discount compared to the average Forward P/E of 27.47 of its industry.
Meanwhile, FCX's PEG ratio is currently 0.73. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Mining - Non Ferrous industry stood at 0.73 at the close of the market yesterday.
The Mining - Non Ferrous industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 19, placing it within the top 8% of over 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Freeport-McMoRan (FCX) Rises As Market Takes a Dip: Key Facts
Freeport-McMoRan (FCX - Free Report) closed at $60.35 in the latest trading session, marking a +1.7% move from the prior day. The stock's change was more than the S&P 500's daily loss of 0.53%. On the other hand, the Dow registered a loss of 0.09%, and the technology-centric Nasdaq decreased by 1%.
Shares of the mining company have appreciated by 24.82% over the course of the past month, outperforming the Basic Materials sector's gain of 7.23%, and the S&P 500's gain of 2.06%.
The upcoming earnings release of Freeport-McMoRan will be of great interest to investors. In that report, analysts expect Freeport-McMoRan to post earnings of $0.28 per share. This would mark a year-over-year decline of 9.68%. Meanwhile, our latest consensus estimate is calling for revenue of $5.05 billion, down 11.7% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.55 per share and revenue of $25.29 billion. These totals would mark changes of +4.73% and 0%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Freeport-McMoRan. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 17.35% higher. Freeport-McMoRan currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Freeport-McMoRan is holding a Forward P/E ratio of 26.75. This expresses a discount compared to the average Forward P/E of 27.47 of its industry.
Meanwhile, FCX's PEG ratio is currently 0.73. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Mining - Non Ferrous industry stood at 0.73 at the close of the market yesterday.
The Mining - Non Ferrous industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 19, placing it within the top 8% of over 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.
You can find more information on all of these metrics, and much more, on Zacks.com.