Freeport-McMoRan (FCX) Laps the Stock Market: Here's Why

Company Performance - Freeport-McMoRan (FCX) closed at $39.51, reflecting a +1.7% change from the previous session, outperforming the S&P 500's gain of 0.64% [1] - The stock has decreased by 1.57% over the past month, which is better than the Basic Materials sector's loss of 1.92% and the S&P 500's loss of 7.69% [1] Upcoming Earnings - The upcoming earnings release is anticipated, with projected earnings per share (EPS) of$ 0.29, indicating a 9.38% decrease from the same quarter last year [2] - Revenue is expected to be $5.47 billion, reflecting a 13.46% decline compared to the year-ago quarter [2] Annual Estimates - For the annual period, earnings are estimated at$ 1.70 per share and revenue at $26.33 billion, representing increases of +14.86% and +3.45% respectively from the previous year [3] Analyst Estimates - Recent changes in analyst estimates are important, as upward revisions indicate analysts' positive outlook on the company's operations and profit generation capabilities [4] - The Zacks Rank system, which evaluates these estimates, has a strong track record, with 1 stocks averaging a +25% annual return since 1988 [6] Valuation Metrics - Freeport-McMoRan has a Forward P/E ratio of 22.88, which is higher than the industry average of 18.26, suggesting it is trading at a premium [7] - The company has a PEG ratio of 0.86, compared to the industry average of 0.84, indicating a favorable growth expectation relative to its price [8] Industry Context - The Mining - Non Ferrous industry, part of the Basic Materials sector, has a Zacks Industry Rank of 182, placing it in the bottom 28% of over 250 industries [9]