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Freeport-McMoRan (FCX) Surpasses Market Returns: Some Facts Worth Knowing
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In the latest trading session, Freeport-McMoRan (FCX - Free Report) closed at $70.84, marking a +2.3% move from the previous day. This move outpaced the S&P 500's daily gain of 1.14%. Elsewhere, the Dow saw an upswing of 0.61%, while the tech-heavy Nasdaq appreciated by 1.69%.
Coming into today, shares of the mining company had gained 0.22% in the past month. In that same time, the Basic Materials sector lost 1.36%, while the S&P 500 lost 2.85%.
The investment community will be closely monitoring the performance of Freeport-McMoRan in its forthcoming earnings report. The company is predicted to post an EPS of $0.73, indicating a 46% growth compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $7.07 billion, showing a 1.4% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.82 per share and a revenue of $28.61 billion, signifying shifts of +59.32% and +10.4%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Freeport-McMoRan. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.28% increase. Freeport-McMoRan is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Freeport-McMoRan has a Forward P/E ratio of 24.59 right now. Its industry sports an average Forward P/E of 24.39, so one might conclude that Freeport-McMoRan is trading at a premium comparatively.
We can also see that FCX currently has a PEG ratio of 0.68. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Mining - Non Ferrous stocks are, on average, holding a PEG ratio of 0.9 based on yesterday's closing prices.
The Mining - Non Ferrous industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 207, positioning it in the bottom 16% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
View the Zacks #1 Rank List
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Freeport-McMoRan (FCX) Surpasses Market Returns: Some Facts Worth Knowing
In the latest trading session, Freeport-McMoRan (FCX - Free Report) closed at $70.84, marking a +2.3% move from the previous day. This move outpaced the S&P 500's daily gain of 1.14%. Elsewhere, the Dow saw an upswing of 0.61%, while the tech-heavy Nasdaq appreciated by 1.69%.
Coming into today, shares of the mining company had gained 0.22% in the past month. In that same time, the Basic Materials sector lost 1.36%, while the S&P 500 lost 2.85%.
The investment community will be closely monitoring the performance of Freeport-McMoRan in its forthcoming earnings report. The company is predicted to post an EPS of $0.73, indicating a 46% growth compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $7.07 billion, showing a 1.4% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.82 per share and a revenue of $28.61 billion, signifying shifts of +59.32% and +10.4%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Freeport-McMoRan. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.28% increase. Freeport-McMoRan is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Freeport-McMoRan has a Forward P/E ratio of 24.59 right now. Its industry sports an average Forward P/E of 24.39, so one might conclude that Freeport-McMoRan is trading at a premium comparatively.
We can also see that FCX currently has a PEG ratio of 0.68. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Mining - Non Ferrous stocks are, on average, holding a PEG ratio of 0.9 based on yesterday's closing prices.
The Mining - Non Ferrous industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 207, positioning it in the bottom 16% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.