Freeport-McMoRan (FCX) Rises As Market Takes a Dip: Key Facts

Freeport-McMoRan (FCX) closed at $60.35 in the latest trading session, marking a +1.7% move from the prior day. The stock's change was more than the S&P 500's daily loss of 0.53%. On the other hand, the Dow registered a loss of 0.09%, and the technology-centric Nasdaq decreased by 1%. Shares of the mining company have appreciated by 24.82% over the course of the past month, outperforming the Basic Materials sector's gain of 7.23%, and the S&P 500's gain of 2.06%.The upcoming earnings release of Freeport-McMoRan will be of great interest to investors. In that report, analysts expect Freeport-McMoRan to post earnings of $0.28 per share. This would mark a year-over-year decline of 9.68%. Meanwhile, our latest consensus estimate is calling for revenue of $5.05 billion, down 11.7% from the prior-year quarter. Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.55 per share and revenue of $25.29 billion. These totals would mark changes of +4.73% and 0%, respectively, from last year. 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. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits. Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system. The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 17.35% higher. Freeport-McMoRan currently has a Zacks Rank of #3 (Hold). Looking at its valuation, Freeport-McMoRan is holding a Forward P/E ratio of 26.75. This expresses a discount compared to the average Forward P/E of 27.47 of its industry. Meanwhile, FCX's PEG ratio is currently 0.73. 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 average PEG ratio for the Mining - Non Ferrous industry stood at 0.73 at the close of the market yesterday. The Mining - Non Ferrous industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 19, placing it within the top 8% of over 250 industries. The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. You can find more information on all of these metrics, and much more, on Zacks.com. Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant 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