Countdown to Freeport-McMoRan (FCX) Q3 Earnings: Wall Street Forecasts for Key Metrics

In its upcoming report, Freeport-McMoRan (FCX) is predicted by Wall Street analysts to post quarterly earnings of $0.41 per share, reflecting an increase of 7.9% compared to the same period last year. Revenues are forecasted to be $6.6 billion, representing a year-over-year decrease of 2.8%.Over the last 30 days, there has been a downward revision of 58.1% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.Bearing this in mind, let's now explore the average estimates of specific Freeport-McMoRan metrics that are commonly monitored and projected by Wall Street analysts.Analysts forecast 'Revenues- South America copper mines' to reach $1.24 billion. The estimate points to a change of -5.5% from the year-ago quarter.It is projected by analysts that the 'Revenues- Indonesia' will reach $2.57 billion. The estimate indicates a change of -13.9% from the prior-year quarter.Based on the collective assessment of analysts, 'Revenues- Molybdenum' should arrive at $236.95 million. The estimate indicates a year-over-year change of +79.5%.The consensus estimate for 'Revenues- North America copper mines' stands at $1.73 billion. The estimate suggests a change of +9% year over year.Analysts predict that the 'Average realized price per pound - Copper' will reach $4.54 . The estimate compares to the year-ago value of $4.30 .The consensus among analysts is that 'Sales in thousands of ounces - Gold - Consolidated basis' will reach 310 thousands of ounces. Compared to the current estimate, the company reported 558 thousands of ounces in the same quarter of the previous year.According to the collective judgment of analysts, 'Average realized price per pound - Molybdenum' should come in at $22.75 . Compared to the present estimate, the company reported $22.88 in the same quarter last year.Analysts expect 'Average realized price per ounce - Gold' to come in at $3382.83 . Compared to the present estimate, the company reported $2568.00 in the same quarter last year.The average prediction of analysts places 'Sales in millions of pounds - Molybdenum - Consolidated basis' at 18 millions of pounds. The estimate compares to the year-ago value of 19 millions of pounds.The combined assessment of analysts suggests that 'Sales in millions of pounds - Copper - Total North America' will likely reach 342 millions of pounds. The estimate compares to the year-ago value of 316 millions of pounds.The collective assessment of analysts points to an estimated 'Sales in millions of pounds - Copper - Total South America' of 263 millions of pounds. The estimate is in contrast to the year-ago figure of 293 millions of pounds.Analysts' assessment points toward 'Sales in millions of pounds - Copper - Indonesia - Grasberg' reaching 360 millions of pounds. The estimate compares to the year-ago value of 426 millions of pounds. View all Key Company Metrics for Freeport-McMoRan here>>> Freeport-McMoRan shares have witnessed a change of -8.4% in the past month, in contrast to the Zacks S&P 500 composite's +1.1% move. With a Zacks Rank #4 (Sell), FCX is expected underperform the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .#1 Semiconductor Stock to Buy (Not NVDA)The incredible demand for data is fueling the market's next digital gold rush. As data centers continue to be built and constantly upgraded, the companies that provide the hardware for these behemoths will become the NVIDIAs of tomorrow.One under-the-radar chipmaker is uniquely positioned to take advantage of the next growth stage of this market. It specializes in semiconductor products that titans like NVIDIA don't build. It's just beginning to enter the spotlight, which is exactly where you want to be.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Freeport-McMoRan Inc. (FCX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks