Freeport McMoRan Stock Sees Composite Rating Climb To 97

Freeport McMoRan Stock Sees Composite Rating Climb To 97

Freeport McMoRan Stock Sees Composite Rating Climb To 97

The IBD SmartSelect Composite Rating for Freeport McMoRan (FCX) increased from 92 to 97 Monday.


The new score tells you the company is now outperforming 97% of all stocks in terms of the most important fundamental and technical stock-picking criteria. History shows the top market performers tend to have a 95 or higher score as they launch their major moves.

Freeport McMoRan stock working the right side of a consolidation pattern with a 46.20 entry. It had fallen back  from a recent double bottom.

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One weak spot in Freeport McMoRan stock is a 65 EPS Rating, which tracks quarterly and annual earnings growth. Look for that to improve to 80 or better to show it’s in the top 20% of all stocks.

Its Accumulation/Distribution Rating of B- also shows moderate buying by institutional investors over the last 13 weeks.

In Q2, the company posted 2,467% EPS growth. Top line growth increased 88%, up from 73% in the prior quarter. That marks two consecutive reports with increasing revenue gains. Freeport McMoRan stock’s next quarterly report is expected on or around Oct. 21, just a few days away. Investors may want to wait until after earnings are released.

Freeport McMoRan stock holds the No. 3 rank among its peers in the Mining-Metal Ores industry group. Teck Resources (TECK) is the No. 1-ranked stock within the group.


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