One stock that might be an intriguing choice for investors right now is Freeport-McMoRan Inc. FCX. This is because this security in the Mining-Non Ferrous space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.
This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Mining-Non Ferrous space as it currently has a Zacks Industry Rank of 31 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.
Meanwhile, Freeport-McMoRan is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.
In fact, over the past month, while the company’s current quarter estimates have stayed constant at a loss of 18 cents per share, its current year estimates have risen from earnings of 9 cents per share to 13 cents per share. The company currently carries a Zacks Rank #3 (Hold), which is also a favorable signal.
So, if you are looking for a decent pick in a strong industry, consider Freeport-McMoRan. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.
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FREEPT MC COP-B (FCX): Free Stock Analysis Report
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