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Freeport-McMoRan (FCX) Registers a Bigger Fall Than the Market: Important Facts to Note
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In the latest close session, Freeport-McMoRan (FCX - Free Report) was down 6.95% at $64.40. The stock trailed the S&P 500, which registered a daily loss of 1.44%. Elsewhere, the Dow saw a downswing of 0.09%, while the tech-heavy Nasdaq depreciated by 2.22%.
The mining company's shares have seen an increase of 11.65% over the last month, surpassing the Basic Materials sector's loss of 0.5% and the S&P 500's gain of 0.08%.
Analysts and investors alike will be keeping a close eye on the performance of Freeport-McMoRan in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.6, marking a 11.11% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.37 billion, down 15.99% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.56 per share and a revenue of $27.5 billion, signifying shifts of +44.63% and +6.12%, respectively, from the last year.
Investors should also pay attention to any latest changes in 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 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.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.21% lower. Right now, Freeport-McMoRan possesses a Zacks Rank of #3 (Hold).
In the context of valuation, Freeport-McMoRan is at present trading with a Forward P/E ratio of 27.04. This valuation marks a premium compared to its industry average Forward P/E of 25.99.
Meanwhile, FCX's PEG ratio is currently 0.84. 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 Mining - Non Ferrous industry had an average PEG ratio of 1.47 as trading concluded yesterday.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 104, which puts it in the top 43% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
View the Zacks #1 Rank List
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Freeport-McMoRan (FCX) Registers a Bigger Fall Than the Market: Important Facts to Note
In the latest close session, Freeport-McMoRan (FCX - Free Report) was down 6.95% at $64.40. The stock trailed the S&P 500, which registered a daily loss of 1.44%. Elsewhere, the Dow saw a downswing of 0.09%, while the tech-heavy Nasdaq depreciated by 2.22%.
The mining company's shares have seen an increase of 11.65% over the last month, surpassing the Basic Materials sector's loss of 0.5% and the S&P 500's gain of 0.08%.
Analysts and investors alike will be keeping a close eye on the performance of Freeport-McMoRan in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.6, marking a 11.11% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.37 billion, down 15.99% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.56 per share and a revenue of $27.5 billion, signifying shifts of +44.63% and +6.12%, respectively, from the last year.
Investors should also pay attention to any latest changes in 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 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.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.21% lower. Right now, Freeport-McMoRan possesses a Zacks Rank of #3 (Hold).
In the context of valuation, Freeport-McMoRan is at present trading with a Forward P/E ratio of 27.04. This valuation marks a premium compared to its industry average Forward P/E of 25.99.
Meanwhile, FCX's PEG ratio is currently 0.84. 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 Mining - Non Ferrous industry had an average PEG ratio of 1.47 as trading concluded yesterday.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 104, which puts it in the top 43% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.