In its upcoming report, Freeport-McMoRan (FCX) is predicted by Wall Street analysts to post quarterly earnings of $0.29 per share, reflecting an increase of 7.4% compared to the same period last year. Revenues are forecasted to be $6.08 billion, representing a year-over-year increase of 3%.
The consensus EPS estimate for the quarter has undergone a downward revision of 19.5% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
That said, let's delve into the average estimates of some Freeport-McMoRan metrics that Wall Street analysts commonly model and monitor.
The consensus among analysts is that 'Revenues- Indonesia' will reach $2.34 billion. The estimate indicates a year-over-year change of -14.6%.
Analysts' assessment points toward 'Revenues- Molybdenum' reaching $260.76 million. The estimate indicates a change of +66.1% from the prior-year quarter.
According to the collective judgment of analysts, 'Revenues- South America copper mines' should come in at $1.26 billion. The estimate points to a change of +13.4% from the year-ago quarter.
The average prediction of analysts places 'Revenues- North America copper mines' at $1.40 billion. The estimate points to a change of -0.3% from the year-ago quarter.
Analysts expect 'Average realized price per pound - Copper' to come in at $4.20. The estimate compares to the year-ago value of $3.81.
Based on the collective assessment of analysts, 'Production in millions of pounds - Molybdenum - South America' should arrive at 5.83 Mlbs. Compared to the current estimate, the company reported 5 Mlbs in the same quarter of the previous year.
The collective assessment of analysts points to an estimated 'Production in millions of pounds - Molybdenum - By-product - North America' of 7.50 Mlbs. Compared to the current estimate, the company reported 7 Mlbs in the same quarter of the previous year.
Analysts forecast 'Sales in thousands of Ounces - Gold - North America' to reach 4.20 Koz. The estimate compares to the year-ago value of 5 Koz.
It is projected by analysts that the 'Sales in thousands of ounces - Gold - Consolidated basis' will reach 342.66 Koz. The estimate compares to the year-ago value of 549 Koz.
The consensus estimate for 'Sales in thousands of Ounces - Gold - Indonesia' stands at 338.45 Koz. The estimate is in contrast to the year-ago figure of 544 Koz.
Analysts predict that the 'Sales in millions of pounds - Copper - Total South America' will reach 290.17 Mlbs. The estimate is in contrast to the year-ago figure of 287 Mlbs.
The combined assessment of analysts suggests that 'Sales in millions of pounds - Copper - Indonesia - Grasberg' will likely reach 392.99 Mlbs. The estimate compares to the year-ago value of 397 Mlbs.
View all Key Company Metrics for Freeport-McMoRan here>>>
Freeport-McMoRan shares have witnessed a change of +4.7% in the past month, in contrast to the Zacks S&P 500 composite's -2.1% move. With a Zacks Rank #3 (Hold), FCX is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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