Insights Into Freeport-McMoRan (FCX) Q1: Wall Street Projections for Key Metrics

In its upcoming report, Freeport-McMoRan (FCX) is predicted by Wall Street analysts to post quarterly earnings of $0.24 per share, reflecting a decline of 25% compared to the same period last year. Revenues are forecasted to be $5.31 billion, representing a year-over-year decrease of 16%.The current level reflects an upward revision of 9.8% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.In light of this perspective, let's dive into the average estimates of certain Freeport-McMoRan metrics that are commonly tracked and forecasted by Wall Street analysts.The collective assessment of analysts points to an estimated 'Revenues- Indonesia' of $1.31 billion. The estimate indicates a change of -53.6% from the prior-year quarter.Based on the collective assessment of analysts, 'Revenues- Molybdenum' should arrive at $261.94 million. The estimate indicates a year-over-year change of +80.7%.The consensus among analysts is that 'Revenues- South America copper mines' will reach $1.29 billion. The estimate suggests a change of +13.9% year over year.Analysts predict that the 'Revenues- North America copper mines' will reach $1.56 billion. The estimate indicates a year-over-year change of +3.9%.The consensus estimate for 'Average realized price per pound - Copper' stands at $4.36. The estimate compares to the year-ago value of $3.94.The combined assessment of analysts suggests that 'Production in millions of pounds - Molybdenum - South America (Cerro Verde)' will likely reach 5.82 Mlbs. Compared to the current estimate, the company reported 3 Mlbs in the same quarter of the previous year.The average prediction of analysts places 'Production in millions of pounds - Molybdenum - By-product - North America' at 7.73 Mlbs. Compared to the current estimate, the company reported 7 Mlbs in the same quarter of the previous year.Analysts expect 'Sales in thousands of Ounces - Gold - North America' to come in at 3.87 Koz. Compared to the present estimate, the company reported 4 Koz in the same quarter last year.Analysts' assessment points toward 'Sales in thousands of ounces - Gold - Consolidated basis' reaching 126.13 Koz. Compared to the current estimate, the company reported 568 Koz in the same quarter of the previous year.According to the collective judgment of analysts, 'Sales in thousands of Ounces - Gold - Indonesia' should come in at 122.25 Koz. The estimate compares to the year-ago value of 564 Koz.Analysts forecast 'Sales in millions of pounds - Copper - Total South America' to reach 281.86 Mlbs. Compared to the present estimate, the company reported 284 Mlbs in the same quarter last year.It is projected by analysts that the 'Sales in millions of pounds - Copper - Indonesia - Grasberg' will reach 242.98 Mlbs. The estimate is in contrast to the year-ago figure of 493 Mlbs.View all Key Company Metrics for Freeport-McMoRan here>>>Shares of Freeport-McMoRan have experienced a change of -19.2% in the past month compared to the -6.9% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), FCX is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>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 ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks