Freeport-McMoRan (FCX) Moves 15.5% Higher: Will This Strength Last?

Freeport-McMoRan (FCX) shares rallied 15.5% in the last trading session to close at $33.74. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 18.6% loss over the past four weeks.FCX's rally follows a spike in material stocks after President Trump declared a 90-day pause of reciprocal tariffs for most nations.This mining company is expected to post quarterly earnings of $0.26 per share in its upcoming report, which represents a year-over-year change of -18.8%. Revenues are expected to be $5.6 billion, down 11.4% from the year-ago quarter.While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.For Freeport-McMoRan, the consensus EPS estimate for the quarter has been revised 9.4% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on FCX going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Freeport-McMoRan is part of the Zacks Mining - Non Ferrous industry. First Quantum Minerals (FQVLF), another stock in the same industry, closed the last trading session 14% higher at $12.01. FQVLF has returned -12% in the past month.For First Quantum Minerals, the consensus EPS estimate for the upcoming report has changed -37.5% over the past month to -$0.07. This represents a change of +65% from what the company reported a year ago. First Quantum Minerals currently has a Zacks Rank of #3 (Hold).7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.9% per year. So be sure to give these hand picked 7 your immediate attention. See them 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 Report First Quantum Minerals Ltd. (FQVLF): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks