Freeport-McMoRan (FCX) closed the most recent trading day at $61.52, moving +1.64% from the previous trading session. The stock outperformed the S&P 500, which registered a daily gain of 0.42%. Elsewhere, the Dow saw an upswing of 0.29%, while the tech-heavy Nasdaq appreciated by 0.29%.
Coming into today, shares of the mining company had lost 8.76% in the past month. In that same time, the Basic Materials sector lost 4.07%, while the S&P 500 gained 2.2%.
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 July 23, 2026. The company's upcoming EPS is projected at $0.58, signifying a 7.41% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $6.4 billion, indicating a 15.55% decline compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.62 per share and revenue of $27.84 billion. These totals would mark changes of +48.02% and +7.42%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for Freeport-McMoRan. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the past month, the Zacks Consensus EPS estimate has moved 4.8% higher. Freeport-McMoRan is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Freeport-McMoRan is holding a Forward P/E ratio of 23.06. This signifies a premium in comparison to the average Forward P/E of 22.71 for its industry.
We can additionally observe that FCX currently boasts a PEG ratio of 0.62. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Mining - Non Ferrous stocks are, on average, holding a PEG ratio of 1.29 based on yesterday's closing prices.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 89, which puts it in the top 37% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Freeport-McMoRan Inc. (FCX): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).