Freeport-McMoRan (FCX) ended the recent trading session at $44.20, demonstrating a +1.01% swing from the preceding day's closing price. The stock exceeded the S&P 500, which registered a gain of 0.56% for the day. At the same time, the Dow added 0.42%, and the tech-heavy Nasdaq gained 0.83%.

Heading into today, shares of the mining company had lost 2.8% over the past month, outpacing the Basic Materials sector's loss of 3.76% and lagging the S&P 500's gain of 3.11% in that time.

Investors will be eagerly watching for the performance of Freeport-McMoRan in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.40, indicating a 48.15% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $6.07 billion, reflecting a 2.77% rise from the equivalent quarter last year.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.50 per share and revenue of $25.9 billion. These totals would mark changes of -2.6% and +13.31%, respectively, from last year.

It is also important to note the recent changes to analyst estimates for Freeport-McMoRan. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Our research demonstrates that these adjustments in estimates directly associate with imminent 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.42% decrease. Freeport-McMoRan currently has a Zacks Rank of #3 (Hold).

In terms of valuation, Freeport-McMoRan is presently being traded at a Forward P/E ratio of 29.18. This signifies a premium in comparison to the average Forward P/E of 25.65 for its industry.

Also, we should mention that FCX has a PEG ratio of 17.26. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Mining - Non Ferrous industry had an average PEG ratio of 0.99.