Freeport-McMoRan (FCX Quick QuoteFCX - Free Report) ended the recent trading session at $71.21, demonstrating a -6.59% change from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 0.59%. Elsewhere, the Dow lost 0.6%, while the tech-heavy Nasdaq lost 0.65%.

Shares of the mining company have appreciated by 10.13% over the course of the past month, outperforming the Basic Materials sector's gain of 2.83%, and the S&P 500's loss of 1.37%.

The investment community will be closely monitoring the performance of Freeport-McMoRan in its forthcoming earnings report. In that report, analysts expect Freeport-McMoRan to post earnings of $0.73 per share. This would mark year-over-year growth of 46%. At the same time, our most recent consensus estimate is projecting a revenue of $7.07 billion, reflecting a 1.4% rise from the equivalent quarter last year.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.81 per share and a revenue of $28.62 billion, representing changes of +58.76% and +10.46%, respectively, from the prior year.

Investors might also notice recent changes to analyst estimates for Freeport-McMoRan. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.88% upward. Currently, Freeport-McMoRan is carrying a Zacks Rank of #3 (Hold).

With respect to valuation, Freeport-McMoRan is currently being traded at a Forward P/E ratio of 27.09. This denotes a premium relative to the industry average Forward P/E of 26.91.

Investors should also note that FCX has a PEG ratio of 0.75 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Mining - Non Ferrous stocks are, on average, holding a PEG ratio of 1.06 based on yesterday's closing prices.

The Mining - Non Ferrous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 214, which puts it in the bottom 14% 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.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.