Freeport-McMoRan (FCX) Flat As Market Sinks: What You Should Know

In the latest trading session, Freeport-McMoRan (FCX) closed at $40.03, marking no change from the previous day. The stock exceeded the S&P 500, which registered a loss of 0.21% for the day. On the other hand, the Dow registered a loss of 0.16%, and the technology-centric Nasdaq decreased by 0.89%.Coming into today, shares of the mining company had gained 3.41% in the past month. In that same time, the Basic Materials sector lost 5.13%, while the S&P 500 lost 1.56%.Analysts and investors alike will be keeping a close eye on the performance of Freeport-McMoRan in its upcoming earnings disclosure. The company's earnings report is set to go public on January 23, 2025. The company is forecasted to report an EPS of $0.28, showcasing a 3.7% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $6.02 billion, up 1.95% from the year-ago period.Investors should also note any recent changes to analyst estimates for Freeport-McMoRan. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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, there's been a 7.6% fall in the Zacks Consensus EPS estimate. Freeport-McMoRan presently features a Zacks Rank of #3 (Hold).Looking at valuation, Freeport-McMoRan is presently trading at a Forward P/E ratio of 21.11. This indicates no noticeable deviation in contrast to its industry's Forward P/E of 21.11.One should further note that FCX currently holds a PEG ratio of 2.2. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Mining - Non Ferrous industry had an average PEG ratio of 1.93 as trading concluded yesterday.The Mining - Non Ferrous industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 184, placing it within the bottom 27% of over 250 industries.The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.To follow FCX in the coming trading sessions, be sure to utilize Zacks.com.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>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