Freeport-McMoRan (FCX) Advances But Underperforms Market: Key Facts

The latest trading session saw Freeport-McMoRan (FCX) ending at $43, denoting a +0.77% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily gain of 0.82%. Meanwhile, the Dow experienced a drop of 0.22%, and the technology-dominated Nasdaq saw an increase of 1.77%.The the stock of mining company has fallen by 2.13% in the past month, leading the Basic Materials sector's loss of 3.35% and undershooting the S&P 500's gain of 0.8%.The upcoming earnings release of Freeport-McMoRan will be of great interest to investors. The company's upcoming EPS is projected at $0.39, signifying a 44.44% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $6.07 billion, indicating a 2.77% upward movement from the same quarter last year.For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.49 per share and a revenue of $25.9 billion, signifying shifts of -3.25% and +13.31%, respectively, from the last year.Investors might also notice recent changes to analyst estimates for Freeport-McMoRan. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.85% lower. As of now, Freeport-McMoRan holds a Zacks Rank of #3 (Hold).Looking at valuation, Freeport-McMoRan is presently trading at a Forward P/E ratio of 28.56. This represents a premium compared to its industry's average Forward P/E of 25.73.We can also see that FCX currently has a PEG ratio of 2.98. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Mining - Non Ferrous industry held an average PEG ratio of 1.01.The Mining - Non Ferrous industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 68, placing it within the top 28% 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.Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Freeport-McMoRan Inc. (FCX): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks