Freeport-McMoRan (FCX) Rises Yet Lags Behind Market: Some Facts Worth Knowing

Freeport-McMoRan (FCX) closed the latest trading day at $40.22, indicating a +0.47% change from the previous session's end. The stock's change was less than the S&P 500's daily gain of 1%. Meanwhile, the Dow gained 0.78%, and the Nasdaq, a tech-heavy index, added 1.51%.The mining company's shares have seen an increase of 4.68% over the last month, surpassing the Basic Materials sector's loss of 3.81% and the S&P 500's loss of 2.14%.Market participants will be closely following the financial results of Freeport-McMoRan in its upcoming release. The company plans to announce its earnings on January 23, 2025. The company is predicted to post an EPS of $0.29, indicating a 7.41% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.08 billion, up 3% from the year-ago period.Investors should also note any recent changes to analyst estimates for Freeport-McMoRan. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.Empirical research indicates that these revisions in estimates have a direct correlation with impending 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 7.6% fall in the Zacks Consensus EPS estimate. Freeport-McMoRan currently has a Zacks Rank of #3 (Hold).In terms of valuation, Freeport-McMoRan is currently trading at a Forward P/E ratio of 21.11. This valuation marks no noticeable deviation compared to its industry's average Forward P/E of 21.11.We can also see that FCX currently has 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. As of the close of trade yesterday, the Mining - Non Ferrous industry held an average PEG ratio of 1.94.The Mining - Non Ferrous industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 168, placing it within the bottom 34% of over 250 industries.The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.Just Released: Zacks Top 10 Stocks for 2025Hurry – you can still get in early on our 10 top tickers for 2025. Handpicked by Zacks Director of Research Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2024, the Zacks Top 10 Stocks gained +2,112.6%, more than QUADRUPLING the S&P 500’s +475.6%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2025. You can still be among the first to see these just-released stocks with enormous potential. See New Top 10 Stocks >>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