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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.