Banking

Freeport McMoRan Stock Sees Composite Rating Climb To 97

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




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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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