In the latest close session, Freeport-McMoRan (FCX) was down 1.26% at $68.87. The stock's performance was behind the S&P 500's daily gain of 0.28%. On the other hand, the Dow registered a gain of 1.02%, and the technology-centric Nasdaq decreased by 0.02%.
Heading into today, shares of the mining company had lost 3.34% over the past month, outpacing the Basic Materials sector's loss of 4.87% and lagging the S&P 500's gain of 0.67%.
The investment community will be closely monitoring the performance of Freeport-McMoRan in its forthcoming earnings report. The company is scheduled to release its earnings on October 27, 2026. It is anticipated that the company will report an EPS of $0.75, marking a 50% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.09 billion, up 1.64% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $2.9 per share and a revenue of $29.31 billion, demonstrating changes of +63.84% and +13.09%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Freeport-McMoRan. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 2.85% rise in the Zacks Consensus EPS estimate. Currently, Freeport-McMoRan is carrying a Zacks Rank of #2 (Buy).
Investors should also note Freeport-McMoRan's current valuation metrics, including its Forward P/E ratio of 24.03. This indicates a premium in contrast to its industry's Forward P/E of 23.65.
We can also see that FCX currently has a PEG ratio of 0.66. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Mining - Non Ferrous industry currently had an average PEG ratio of 1.22 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 202, positioning it in the bottom 18% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow FCX in the coming trading sessions, be sure to utilize Zacks.com.
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Freeport-McMoRan Inc. (FCX): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).