Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Market Has Not Yet Noticed Potential In Freeport-McMoRan (FCX); Have You?

Published 05/17/2016, 09:33 PM
Updated 07/09/2023, 06:31 AM

It can be very difficult to find companies that are both flying under the radar, and still might have potential for gains. Many times, stocks are off investors’ radar screens for a reason, though there are some hidden gems that could be worth uncovering by those with a high risk tolerance.

One way to find these underappreciated stocks is by looking at companies that haven’t seen their share prices move higher lately, but have observed analysts raising earnings estimates for their stock. This trend could signal that investors haven’t quite embraced the rising estimate story yet, but that the potential for a big move higher is definitely there.

One such company that looks well positioned for a solid gain, but has been overlooked by investors lately, is Freeport-McMoRan Inc. (NYSE:FCX) . This Mining-Non Ferrous stock has actually seen estimates rise over the past month for the current fiscal year by over 100%. But that is not yet reflected in its price, as the stock lost 4.1% over the same time frame.

You should not be concerned about the price remaining muted going forward. This year’s expected earnings growth over the prior year is significantly high, which should ultimately translate into price appreciation.

And if this isn’t enough, FCX currently carries a Zacks Rank #2 (Buy) which further underscores the potential for its outperformance (See the performance of Zacks' portfolios and strategies here: About Zacks Performance).

So if you are looking for a stock flying under-the-radar that is well-equipped to bounce down the road, make sure to consider Freeport-McMoRan. Solid estimate revisions and an impressive Zacks Rank suggest that better days may be ahead for FCX and that now might be an interesting buying opportunity.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>



FREEPT MC COP-B (FCX): Free Stock Analysis Report

Original post

Zacks Investment Research

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.