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Freeport-McMoRan (FCX) Rises As Market Takes a Dip: Key Facts
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Freeport-McMoRan (FCX - Free Report) closed at $43.92 in the latest trading session, marking a +1.83% move from the prior day. The stock's change was more than the S&P 500's daily loss of 0.29%. Meanwhile, the Dow experienced a drop of 0.25%, and the technology-dominated Nasdaq saw a decrease of 0.31%.
Shares of the mining company have depreciated by 0.92% over the course of the past month, underperforming the Basic Materials sector's gain of 1.45% and the S&P 500's gain of 1.57%.
Market participants will be closely following the financial results of Freeport-McMoRan in its upcoming release. It is anticipated that the company will report an EPS of $0.46, marking a 17.95% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $6.45 billion, indicating a 10.81% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.66 per share and a revenue of $25.92 billion, signifying shifts of +7.79% and +13.42%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Freeport-McMoRan. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.46% lower. Freeport-McMoRan currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Freeport-McMoRan has a Forward P/E ratio of 26.04 right now. This indicates a premium in contrast to its industry's Forward P/E of 13.03.
Investors should also note that FCX has a PEG ratio of 2.68 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Mining - Non Ferrous industry had an average PEG ratio of 0.74 as trading concluded yesterday.
The Mining - Non Ferrous industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 144, placing it within the bottom 44% of over 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Freeport-McMoRan (FCX) Rises As Market Takes a Dip: Key Facts
Freeport-McMoRan (FCX - Free Report) closed at $43.92 in the latest trading session, marking a +1.83% move from the prior day. The stock's change was more than the S&P 500's daily loss of 0.29%. Meanwhile, the Dow experienced a drop of 0.25%, and the technology-dominated Nasdaq saw a decrease of 0.31%.
Shares of the mining company have depreciated by 0.92% over the course of the past month, underperforming the Basic Materials sector's gain of 1.45% and the S&P 500's gain of 1.57%.
Market participants will be closely following the financial results of Freeport-McMoRan in its upcoming release. It is anticipated that the company will report an EPS of $0.46, marking a 17.95% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $6.45 billion, indicating a 10.81% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.66 per share and a revenue of $25.92 billion, signifying shifts of +7.79% and +13.42%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Freeport-McMoRan. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.46% lower. Freeport-McMoRan currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Freeport-McMoRan has a Forward P/E ratio of 26.04 right now. This indicates a premium in contrast to its industry's Forward P/E of 13.03.
Investors should also note that FCX has a PEG ratio of 2.68 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Mining - Non Ferrous industry had an average PEG ratio of 0.74 as trading concluded yesterday.
The Mining - Non Ferrous industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 144, placing it within the bottom 44% of over 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.