Freeport-McMoRan (FCX) Suffers a Larger Drop Than the General Market: Key Insights

The most recent trading session ended with Freeport-McMoRan (FCX) standing at $37.88, reflecting a -0.53% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily loss of 0.22%. Meanwhile, the Dow lost 0.36%, and the Nasdaq, a tech-heavy index, lost 0.16%.The mining company's stock has dropped by 11.52% in the past month, falling short of the Basic Materials sector's loss of 9.71% and the S&P 500's loss of 2.36%.Market participants will be closely following the financial results of Freeport-McMoRan in its upcoming release. The company's upcoming EPS is projected at $0.38, signifying a 40.74% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $6.06 billion, indicating a 2.65% upward movement from the same quarter last year.Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Freeport-McMoRan. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.04% increase. Currently, Freeport-McMoRan is carrying a Zacks Rank of #3 (Hold).From a valuation perspective, Freeport-McMoRan is currently exchanging hands at a Forward P/E ratio of 18.55. This expresses a discount compared to the average Forward P/E of 19.23 of its industry.Meanwhile, FCX's PEG ratio is currently 1.93. 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. By the end of yesterday's trading, the Mining - Non Ferrous industry had an average PEG ratio of 1.38.The Mining - Non Ferrous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 146, which puts it in the bottom 42% of all 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.Just Released: Zacks Top 10 Stocks for 2024Hurry – 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