We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Freeport-McMoRan (FCX) Rises Higher Than Market: Key Facts
Read MoreHide Full Article
In the latest close session, Freeport-McMoRan (FCX - Free Report) was up +2.02% at $67.04. The stock outperformed the S&P 500, which registered a daily gain of 0.26%. Meanwhile, the Dow gained 0.09%, and the Nasdaq, a tech-heavy index, added 0.42%.
Prior to today's trading, shares of the mining company had gained 16.2% outpaced the Basic Materials sector's gain of 4.93% and the S&P 500's gain of 6.32%.
The investment community will be paying close attention to the earnings performance of Freeport-McMoRan in its upcoming release. In that report, analysts expect Freeport-McMoRan to post earnings of $0.6 per share. This would mark year-over-year growth of 11.11%. Our most recent consensus estimate is calling for quarterly revenue of $6.37 billion, down 15.99% from the year-ago period.
FCX's full-year Zacks Consensus Estimates are calling for earnings of $2.56 per share and revenue of $27.24 billion. These results would represent year-over-year changes of +44.63% and +5.12%, respectively.
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. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate has remained steady. 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 25.62. Its industry sports an average Forward P/E of 26.63, so one might conclude that Freeport-McMoRan is trading at a discount comparatively.
Meanwhile, FCX's PEG ratio is currently 0.79. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Mining - Non Ferrous industry held an average PEG ratio of 1.67.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 160, putting it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
Zacks' 7 Best Strong Buy Stocks (New Research Report)
Valued at $99, click below to receive our just-released report
predicting the 7 stocks that will soar highest in the coming month.
View the Zacks #1 Rank List
Image: Bigstock
Freeport-McMoRan (FCX) Rises Higher Than Market: Key Facts
In the latest close session, Freeport-McMoRan (FCX - Free Report) was up +2.02% at $67.04. The stock outperformed the S&P 500, which registered a daily gain of 0.26%. Meanwhile, the Dow gained 0.09%, and the Nasdaq, a tech-heavy index, added 0.42%.
Prior to today's trading, shares of the mining company had gained 16.2% outpaced the Basic Materials sector's gain of 4.93% and the S&P 500's gain of 6.32%.
The investment community will be paying close attention to the earnings performance of Freeport-McMoRan in its upcoming release. In that report, analysts expect Freeport-McMoRan to post earnings of $0.6 per share. This would mark year-over-year growth of 11.11%. Our most recent consensus estimate is calling for quarterly revenue of $6.37 billion, down 15.99% from the year-ago period.
FCX's full-year Zacks Consensus Estimates are calling for earnings of $2.56 per share and revenue of $27.24 billion. These results would represent year-over-year changes of +44.63% and +5.12%, respectively.
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. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate has remained steady. 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 25.62. Its industry sports an average Forward P/E of 26.63, so one might conclude that Freeport-McMoRan is trading at a discount comparatively.
Meanwhile, FCX's PEG ratio is currently 0.79. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Mining - Non Ferrous industry held an average PEG ratio of 1.67.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 160, putting it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.