Freeport-McMoRan (FCX) ended the recent trading session at $33.75, demonstrating a +1.2% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily gain of 0.79%. Meanwhile, the Dow gained 0.78%, and the Nasdaq, a tech-heavy index, added 0.64%.
Shares of the mining company have depreciated by 14.16% over the course of the past month, underperforming the Basic Materials sector's loss of 4.43% and the S&P 500's loss of 3.56%.
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 April 24, 2025. On that day, Freeport-McMoRan is projected to report earnings of $0.25 per share, which would represent a year-over-year decline of 21.88%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.32 billion, down 15.89% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.70 per share and a revenue of $26.34 billion, signifying shifts of +14.86% and +3.47%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Freeport-McMoRan. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. The Zacks Consensus EPS estimate has moved 3.79% higher within the past month. Freeport-McMoRan is currently a Zacks Rank #3 (Hold).
In the context of valuation, Freeport-McMoRan is at present trading with a Forward P/E ratio of 19.57. This represents a premium compared to its industry's average Forward P/E of 16.4.
One should further note that FCX currently holds a PEG ratio of 0.61. 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 currently had an average PEG ratio of 0.61 as of yesterday's close.
The Mining - Non Ferrous industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 215, positioning it in the bottom 14% of all 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Freeport-McMoRan Inc. (FCX) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
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