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Freeport-McMoRan (FCX) Stock Moves -0.65%: What You Should Know
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In the latest trading session, Freeport-McMoRan (FCX - Free Report) closed at $38.47, marking a -0.65% move from the previous day. This move was narrower than the S&P 500's daily loss of 0.72%.
Coming into today, shares of the mining company had gained 3.2% in the past month. In that same time, the Basic Materials sector lost 1.14%, while the S&P 500 gained 0.11%.
Wall Street will be looking for positivity from Freeport-McMoRan as it approaches its next earnings report date. In that report, analysts expect Freeport-McMoRan to post earnings of $0.83 per share. This would mark year-over-year growth of 118.42%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.73 billion, up 49.73% from the year-ago period.
FCX's full-year Zacks Consensus Estimates are calling for earnings of $2.99 per share and revenue of $23.48 billion. These results would represent year-over-year changes of +453.7% and +65.36%, respectively.
Any recent changes to analyst estimates for Freeport-McMoRan should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.8% higher. Freeport-McMoRan is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Freeport-McMoRan is currently trading at a Forward P/E ratio of 12.95. This represents a premium compared to its industry's average Forward P/E of 12.85.
We can also see that FCX currently has a PEG ratio of 0.44. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. FCX's industry had an average PEG ratio of 0.44 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 122, which puts it in the top 49% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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 -0.65%: What You Should Know
In the latest trading session, Freeport-McMoRan (FCX - Free Report) closed at $38.47, marking a -0.65% move from the previous day. This move was narrower than the S&P 500's daily loss of 0.72%.
Coming into today, shares of the mining company had gained 3.2% in the past month. In that same time, the Basic Materials sector lost 1.14%, while the S&P 500 gained 0.11%.
Wall Street will be looking for positivity from Freeport-McMoRan as it approaches its next earnings report date. In that report, analysts expect Freeport-McMoRan to post earnings of $0.83 per share. This would mark year-over-year growth of 118.42%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.73 billion, up 49.73% from the year-ago period.
FCX's full-year Zacks Consensus Estimates are calling for earnings of $2.99 per share and revenue of $23.48 billion. These results would represent year-over-year changes of +453.7% and +65.36%, respectively.
Any recent changes to analyst estimates for Freeport-McMoRan should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.8% higher. Freeport-McMoRan is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Freeport-McMoRan is currently trading at a Forward P/E ratio of 12.95. This represents a premium compared to its industry's average Forward P/E of 12.85.
We can also see that FCX currently has a PEG ratio of 0.44. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. FCX's industry had an average PEG ratio of 0.44 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 122, which puts it in the top 49% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.