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Why Freeport-McMoRan (FCX) Stock Might be a Great Pick

By Zacks Investment ResearchStock MarketsJun 13, 2021 11:56PM ET
www.investing.com/analysis/why-freeportmcmoran-fcx-stock-might-be-a-great-pick-200586017
Why Freeport-McMoRan (FCX) Stock Might be a Great Pick
By Zacks Investment Research   |  Jun 13, 2021 11:56PM ET
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One stock that might be an intriguing choice for investors right now is Freeport-McMoRan (NYSE:FCX) Inc. FCX. This is because this security in the Mining - Non Ferrous space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.

This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Mining - Non Ferrous space as it currently has a Zacks Industry Rank of 68 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.

Meanwhile, Freeport-McMoRan is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.

In fact, over the past month, current quarter estimates have risen from 70 cents per share to 77 cents per share, while current year estimates have risen from $2.84 per share to $3.18 per share. The company currently carries a Zacks Rank #3 (Hold), which is also a favorable signal. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

So, if you are looking for a decent pick in a strong industry, consider Freeport-McMoRan. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.

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Why Freeport-McMoRan (FCX) Stock Might be a Great Pick
 

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Why Freeport-McMoRan (FCX) Stock Might be a Great Pick

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