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Freeport-McMoRan (FCX) Stock Moves -0.84%: What You Should Know
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The latest trading session saw Freeport-McMoRan (FCX - Free Report) ending at $38.86, denoting a -0.84% adjustment from its last day's close. This move was narrower than the S&P 500's daily loss of 1.11%. On the other hand, the Dow registered a loss of 0.77%, and the technology-centric Nasdaq decreased by 1.49%.
Coming into today, shares of the mining company had lost 10.44% in the past month. In that same time, the Basic Materials sector lost 8.24%, while the S&P 500 gained 0.4%.
The upcoming earnings release of Freeport-McMoRan will be of great interest to investors. It is anticipated that the company will report an EPS of $0.38, marking a 40.74% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $6.02 billion, up 1.91% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.49 per share and a revenue of $25.86 billion, representing changes of -3.25% and +13.13%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Freeport-McMoRan. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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.
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 past month, the Zacks Consensus EPS estimate has shifted 0.74% downward. Right now, Freeport-McMoRan possesses a Zacks Rank of #3 (Hold).
With respect to valuation, Freeport-McMoRan is currently being traded at a Forward P/E ratio of 26.32. This signifies a premium in comparison to the average Forward P/E of 20.64 for its industry.
Also, we should mention that FCX has a PEG ratio of 2.74. 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. FCX's industry had an average PEG ratio of 0.94 as of yesterday's close.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 169, which puts it in the bottom 33% 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.
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Freeport-McMoRan (FCX) Stock Moves -0.84%: What You Should Know
The latest trading session saw Freeport-McMoRan (FCX - Free Report) ending at $38.86, denoting a -0.84% adjustment from its last day's close. This move was narrower than the S&P 500's daily loss of 1.11%. On the other hand, the Dow registered a loss of 0.77%, and the technology-centric Nasdaq decreased by 1.49%.
Coming into today, shares of the mining company had lost 10.44% in the past month. In that same time, the Basic Materials sector lost 8.24%, while the S&P 500 gained 0.4%.
The upcoming earnings release of Freeport-McMoRan will be of great interest to investors. It is anticipated that the company will report an EPS of $0.38, marking a 40.74% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $6.02 billion, up 1.91% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.49 per share and a revenue of $25.86 billion, representing changes of -3.25% and +13.13%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Freeport-McMoRan. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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.
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 past month, the Zacks Consensus EPS estimate has shifted 0.74% downward. Right now, Freeport-McMoRan possesses a Zacks Rank of #3 (Hold).
With respect to valuation, Freeport-McMoRan is currently being traded at a Forward P/E ratio of 26.32. This signifies a premium in comparison to the average Forward P/E of 20.64 for its industry.
Also, we should mention that FCX has a PEG ratio of 2.74. 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. FCX's industry had an average PEG ratio of 0.94 as of yesterday's close.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 169, which puts it in the bottom 33% 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.