We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Freeport-McMoRan (FCX) Stock Moves -1.16%: What You Should Know
Read MoreHide Full Article
In the latest trading session, Freeport-McMoRan (FCX - Free Report) closed at $41.59, marking a -1.16% move from the previous day. On the other hand, the Dow registered a loss of 0.2%, and the technology-centric Nasdaq increased by 0.12%.
The mining company's stock has dropped by 2.75% in the past month, falling short of the Basic Materials sector's loss of 1.32% and the S&P 500's gain of 1.27%.
Investors will be eagerly watching for the performance of Freeport-McMoRan in its upcoming earnings disclosure. The company is expected to report EPS of $0.39, up 44.44% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $6.07 billion, showing a 2.77% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $1.49 per share and a revenue of $25.95 billion, demonstrating changes of -3.25% and +13.56%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Freeport-McMoRan. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.85% lower. At present, Freeport-McMoRan boasts a Zacks Rank of #3 (Hold).
In terms of valuation, Freeport-McMoRan is currently trading at a Forward P/E ratio of 28.16. This denotes a premium relative to the industry's average Forward P/E of 22.68.
Investors should also note that FCX has a PEG ratio of 2.94 right now. 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. As of the close of trade yesterday, the Mining - Non Ferrous industry held an average PEG ratio of 1.
The Mining - Non Ferrous industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 77, positioning it in the top 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Freeport-McMoRan (FCX) Stock Moves -1.16%: What You Should Know
In the latest trading session, Freeport-McMoRan (FCX - Free Report) closed at $41.59, marking a -1.16% move from the previous day. On the other hand, the Dow registered a loss of 0.2%, and the technology-centric Nasdaq increased by 0.12%.
The mining company's stock has dropped by 2.75% in the past month, falling short of the Basic Materials sector's loss of 1.32% and the S&P 500's gain of 1.27%.
Investors will be eagerly watching for the performance of Freeport-McMoRan in its upcoming earnings disclosure. The company is expected to report EPS of $0.39, up 44.44% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $6.07 billion, showing a 2.77% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $1.49 per share and a revenue of $25.95 billion, demonstrating changes of -3.25% and +13.56%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Freeport-McMoRan. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.85% lower. At present, Freeport-McMoRan boasts a Zacks Rank of #3 (Hold).
In terms of valuation, Freeport-McMoRan is currently trading at a Forward P/E ratio of 28.16. This denotes a premium relative to the industry's average Forward P/E of 22.68.
Investors should also note that FCX has a PEG ratio of 2.94 right now. 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. As of the close of trade yesterday, the Mining - Non Ferrous industry held an average PEG ratio of 1.
The Mining - Non Ferrous industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 77, positioning it in the top 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.