In the latest trading session, Freeport-McMoRan (FCX) closed at $70.21, marking a +2.83% move from the previous day. This change outpaced the S&P 500's 1.2% gain on the day. Elsewhere, the Dow gained 1.79%, while the tech-heavy Nasdaq added 1.52%.
Heading into today, shares of the mining company had gained 27.34% over the past month, outpacing the Basic Materials sector's gain of 5.12% and the S&P 500's gain of 5.15%.
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 April 23, 2026. It is anticipated that the company will report an EPS of $0.47, marking a 95.83% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.61 billion, down 2% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.55 per share and revenue of $28.05 billion. These totals would mark changes of +44.07% and +8.22%, respectively, from last year.
Any recent changes to analyst estimates for Freeport-McMoRan should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.22% upward. Right now, Freeport-McMoRan possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Freeport-McMoRan is currently exchanging hands at a Forward P/E ratio of 26.74. This valuation marks a discount compared to its industry average Forward P/E of 27.58.
Also, we should mention that FCX has a PEG ratio of 0.78. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Mining - Non Ferrous industry currently had an average PEG ratio of 1.56 as of yesterday's close.
The Mining - Non Ferrous industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 72, this industry ranks in the top 30% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Freeport-McMoRan Inc. (FCX): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).