Freeport-McMoRan closed at $70.84, up 2.3% and outpacing the S&P 500's 1.14% gain, as analysts project strong earnings growth for the mining company. The company is expected to report earnings per share of $0.73 for the upcoming quarter, a 46% increase from the same quarter last year, on revenue of $7.07 billion, up 1.4%. For the full year, the Zacks Consensus Estimates anticipate earnings of $2.82 per share and revenue of $28.61 billion, representing growth of 59.32% and 10.4%, respectively. Over the past 30 days, the consensus EPS estimate has risen 1.28%, and Freeport-McMoRan currently holds a Zacks Rank #3 (Hold). The stock trades at a forward P/E ratio of 24.59, slightly above its industry average of 24.39, while its PEG ratio of 0.68 compares favorably with the Mining - Non Ferrous industry average of 0.9.
Freeport-McMoran Copper & Gold IncAnalysts project 46% EPS growth for the quarter and 59% for the full year, with consensus estimates rising over the past 30 days.
