In the latest trading session, Freeport-McMoRan (FCX) closed at $41.59, marking a -1.16% move from the previous day. On the other hand, the Dow registered a loss of 0.2%, and the technology-centric Nasdaq increased by 0.12%.

The mining company's stock has dropped by 2.75% in the past month, falling short of the Basic Materials sector's loss of 1.32% and the S&P 500's gain of 1.27%.

Investors will be eagerly watching for the performance of Freeport-McMoRan in its upcoming earnings disclosure. The company is expected to report EPS of $0.39, up 44.44% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $6.07 billion, showing a 2.77% escalation compared to the year-ago quarter.

For the full year, the Zacks Consensus Estimates project earnings of $1.49 per share and a revenue of $25.95 billion, demonstrating changes of -3.25% and +13.56%, respectively, from the preceding year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Freeport-McMoRan. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Within the past 30 days, our consensus EPS projection has moved 0.85% lower. At present, Freeport-McMoRan boasts a Zacks Rank of #3 (Hold).

In terms of valuation, Freeport-McMoRan is currently trading at a Forward P/E ratio of 28.16. This denotes a premium relative to the industry's average Forward P/E of 22.68.

Investors should also note that FCX has a PEG ratio of 2.94 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Mining – Non Ferrous industry held an average PEG ratio of 1.

The Mining – Non Ferrous industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 77, positioning it in the top 31% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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Freeport-McMoRan Inc. (FCX) : Free Stock Analysis Report

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