Freeport-McMoRan (FCX) Surpasses Market Returns: Some Facts Worth Knowing

Freeport-McMoRan (FCX) closed the most recent trading day at £40.94, moving +1.79% from the previous trading session. The stock's performance was ahead of the S&P 500's daily gain of 0.96%. Elsewhere, the Dow saw an upswing of 0.89%, while the tech-heavy Nasdaq appreciated by 0.94%.

The stock of mining company has risen by 3.08% in the past month, leading the Basic Materials sector's gain of 0.57% and the S&P 500's gain of 0.5%.

Market participants will be closely following the financial results of Freeport-McMoRan in its upcoming release.

On that day, Freeport-McMoRan is projected to report earnings of £0.46 per share, which would represent no growth from the year-ago period. Simultaneously, our latest consensus estimate expects the revenue to be £6.86 billion, showing a 3.5% escalation compared to the year-ago quarter.

For the annual period, the Zacks Consensus Estimates anticipate earnings of £1.65 per share and a revenue of £27.03 billion, signifying shifts of +11.49% and +6.2%, respectively, from the last year.

Any recent changes to analyst estimates for Freeport-McMoRan should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends.

As a result, we can interpret positive estimate revisions as a good sign for the business outlook.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988.

The Zacks Consensus EPS estimate has moved 1.13% lower within the past month. Freeport-McMoRan is currently sporting a Zacks Rank of #3 (Hold).

From a valuation perspective, Freeport-McMoRan is currently exchanging hands at a Forward P/E ratio of 24.43. This signifies a premium in comparison to the average Forward P/E of 22.78 for its industry.

We can additionally observe that FCX currently boasts a PEG ratio of 0.8.

The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate.

The Mining - Non Ferrous industry had an average PEG ratio of 0.85 as trading concluded yesterday.

The Mining - Non Ferrous industry is part of the Basic Materials sector.

With its current Zacks Industry Rank of 86, this industry ranks in the top 35% of all industries, numbering over 250.