Day: June 24, 2021

TSLA – Tesla Will Allow Other Cars To Charge At Norway Superchargers. That's A Big Deal

Tesla has indicated that next year it will allow other cars to charge at their supercharger network, at least in Norway. If it stays in Norway — which has certain regulatory incentives to make your chargers available to call cars — it’s no big deal, but if it spreads it could be a big change.

Tesla’s supercharger network is a huge advantage over other cars. In fact, until recently, I told anybody shopping for an electric car, “If you want to be able to do road trips outside of your town, the only choice is Tesla.” That may be slowly changing as the network of CCS/Chademo chargers, mostly being built by Electrify America as Volkswagen’s penance for Dieselgate, is growing to a good size.

Tesla seems some times to be the only company to understand charging. They built the charging network very early on, and offered it free to early buyers. Any EV with 200 miles can handle driving around its hometown, never charging anywhere but at its home. But for people who can’t charge at home, and those on road trips, fast chargers are very important. Tesla knew that, and instead of thinking of chargers as a business to sell electricity, they built their network as a free service to help sell cars. Later, they started charging new models, but claimed the prices were “at cost.”

It’s obvious if you go out on an EV road trip, where you sometimes see Tesla charging stations in the same parking lot as CCS fast charging stations from Electrify America and others. The Tesla cars are often many, the other stations more often sit unused. Until recently it’s been rare to see anything but a Tesla out in rural country on a road trip.

One of the surprising challenges has been maintenance. Tesla maintains its network, but it also mostly makes big stations with from 8 to 40 chargers, so having one or two out of service is never a big deal. Other charging stations tend to have just 2 or 4 chargers. The initial stations were only 50kw, though new stations go up to 350kw on CCS for cars which can handle them. Tesla’s early stations were almost all 150kw outside of cities, and now are 250kw (which almost all Teslas can handle at least 200kw of.)

Readers report that breakdowns at non-Tesla fast chargers are surprisingly common, and that this is a crisis because there may be only one or two chargers at a station. They also report repairs often taking significant time with some brands, because there is often little motivation to repair them. (This is even more true with Level 2 charging stations, which often were put in due to available subsidies or for “look green” reasons, but with no money to pay for maintenance.)

If you get to a 2-station location and one is broken, or worse, 2, it can be a long wait or a catastrophe, particularly if, as you often do, you don’t have enough charge to make it to the next station. The worst that ever happens at Tesla stations is that they are full and there is a line, but with many stations, the line almost always moves reasonably quickly. If only one station is working, a line of 2 could mean a 2 hour wait. In the last year, EA buildout has improved this so that stations are closer, and it’s more likely you can trek to another.

You can track the reliability status of stations using Plugshare where users review station quality. It’s very rare to see a Tesla station that’s not a perfect 10, but very common to see lower scores for the others.

Tesla also made the experience close to ideal. You pull into a station, pull out the cord, plug it in, and leave for your meal or shopping. Billing is all handled over the cord, there is almost no user interface. In the future, data protocols will be standardized for CCS to allow this simpler experience. Charging stations with billing have an extra layer that can go wrong, with billing systems failing or cards not being accepted. (A classic problem in some stations is you can’t get cell service to arrange billing in some locations.)

In the USA, Tesla developed their own connector which is superior to the “standard” connectors. It’s compact, light, does communications and does all speeds of charging in one connector. In Europe, though, regulatory pressure had Tesla switch to the standard CCS cable in its European form, which makes it easier for Teslas to use other chargers and for Tesla to accept other cars at its stations. In the USA, Teslas must carry an adapter to use Chademo stations, and few drivers have it. (A few Chademo stations come with the adapter, and Tesla should have just given adapters to those stations rather than have car owners carry them.) Chademo has lost the battle, however, and will fade away, so eventually a CCS adapter will probably arise. And Tesla can easily make an adapter the other way to make available at its charging stations if other cars what to charge there.

On the one hand, Tesla could make money from competitor’s cars charging, and it could charge them a market rate rather than the at-cost rate it charges its own cars. But it would seem they would not want to. Tesla’s network is a huge advantage, and they don’t want other cars to be able to take advantage of it. Indeed, due to the cost of adapters, it would mean that CCS cars could charge everywhere, while Teslas could not. It would also use capacity at stations, and if they get full, Tesla drivers would be forced to wait, and they would not be happy. Tesla has indicated in the past it would be open to letting other cars use their stations if the makers of those cars contributed to the large cost of building out their network. No price has been publicly disclosed, though.

Many people lament that there are 3 fast charging standards (2 now that Chademo is fading.) They hope for an ideal world where every car can charge everywhere, just as every gasoline car can fill up at any gasoline station. (Though that’s not true for Diesel cars.) That has its attractions, but so does competition and innovation. Tesla’s network and connector are clearly superior to all the standards they ignored, and since Tesla makes up the majority of EV sales, it could be argued that the standards don’t qualify for that title.

Adapters solve the problem. If adapters are stocked at the charging stations (as EVGo does with Tesla Chademo adapters at a few of its stations) then drivers don’t have to care or carry adapters. While it’s in the interests of both the charging stations and the car vendor to have the adapters there, if necessary, they can be “rented” as part of the charging fee in order to pay for them. The billing systems can know the adapter is in use and charge a small rental fee to assure it’s profitable to place them at all stations where they make sense. (You don’t need Tesla adapters if there is a Tesla station across the parking lot, unless it regularly fills up, but you do want them at stations where there is no native charging for miles.)

MDC – Richmond American Debuts New Community in Davenport

DAVENPORT, Fla., June 24, 2021 /PRNewswire/ — Richmond American Homes of Florida, LP, a subsidiary of M.D.C. Holdings, Inc. (NYSE: MDC), is pleased to announce that it recently purchased and closed on 101 homesites in Davenport, and its highly anticipated Seasons at Forest Lake community is now pre-selling.

Seasons at Forest Lake showcases eight ranch and two-story floor plans from the builder’s sought-after Seasons™ Collection, designed to put homeownership within reach for a variety of buyers. The plans boast contemporary exteriors and sleek, modern interior design elements that appeal to today’s homebuyers. Among the impressive lineup are the Emerald and Ammolite Modern Living plans, which include a separate suite with a private living room and optional kitchenette for extended family members or guests.

About Seasons at Forest Lake (RichmondAmerican.com/ForestLake)

  • New Seasons™ Collection homes from the $300s
  • 8 inviting ranch and two-story floor plans
  • 3 to 6 bedrooms, approx. 1,700 to 3,030 sq. ft.
  • Close proximity to I-4
  • Community pool and playground
  • Easy access to nearby shopping, dining and recreation

Those who choose to build a new home from the ground up at Seasons at Forest Lake will have the opportunity to work with professional design consultants to select colors, textures, finishes and fixtures for their new living spaces—a complimentary service! 

Seasons at Forest Lake is located at 3908 Southern Vista Loop in Davenport. Call 407.287.6285 or visit RichmondAmerican.com for more information. View health and safety updates at RichmondAmerican.com/COVID-19.

About M.D.C. Holdings, Inc.

Operating under the name Richmond American Homes, MDC’s homebuilding subsidiaries have built more than 210,000 homes since 1977. Among the nation’s largest homebuilders, MDC’s subsidiary companies have operations in Arizona, California, Colorado, Florida, Idaho, Maryland, Nevada, Oregon, Pennsylvania, Utah, Virginia and Washington. Mortgage lending, plus insurance and title services are offered by the following MDC subsidiaries, respectively: HomeAmerican Mortgage Corporation, American Home Insurance Agency, Inc. and American Home Title and Escrow Company. M.D.C. Holdings, Inc. is traded on the New York Stock Exchange under the symbol “MDC.” For more information, visit MDCHoldings.com.

SOURCE M.D.C. Holdings, Inc.

Related Links

www.richmondamerican.com

FREQ – SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Shareholders of Frequency Therapeutics, Inc. of a Class Action Lawsuit and a Lead Plaintiff Deadline of August 2, 2021 – FREQ

New York, New York–(Newsfile Corp. – June 24, 2021) –  The following statement is being issued by Levi & Korsinsky, LLP:

To: All persons or entities who purchased or otherwise acquired securities of Frequency Therapeutics, Inc. (“Frequency Therapeutics”) (NASDAQ: FREQ) between November 16, 2020 and March 22, 2021. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the District of Massachusetts. To get more information go to:

https://www.zlk.com/pslra-1/frequency-therapeutics-inc-loss-submission-form?prid=17175&wire=5

or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500. There is no cost or obligation to you.

Cannot view this image? Visit: https://www.elitestockchat.com/wp-content/uploads/2021/06/88612_405228_logo.jpg

Frequency Therapeutics, Inc. NEWS – FREQ NEWS

CASE DETAILS: According to the filed complaint: the Company’s Phase 2a trial results failed to live up to the Company’s expectations as the results revealed no discernable difference between FX-322 and the placebo. In spite of the disappointing results, the Company continued to conduct the Phase 2a study while releasing positive statements in earnings calls, press releases, SEC filings, and pharmaceutical presentations about FX-322’s potential. These statements materially misled the market and artificially inflated the value of Frequency’s common stock.

WHAT THIS MEANS TO SHAREHOLDERS: If you suffered a loss in Frequency Therapeutics, you have until August 2, 2021 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

NO COST TO YOU: If you purchased Frequency Therapeutics securities between November 16, 2020 and March 22, 2021, you may be entitled to compensation without payment of any out-of-pocket costs or fees.

PROTECT YOUR FINANCIAL INTERESTS: Complete this brief submission form https://www.zlk.com/pslra-1/frequency-therapeutics-inc-loss-submission-form?prid=17175&wire=5 or call 212-363-7500 to discuss the case with Joseph E. Levi, Esq.

WHY LEVI & KORSINSKY: Levi & Korsinsky have a proven track record of winning cases worth hundreds of millions of dollars for shareholders over a 20-year period. We represent and fight for shareholders who have been wronged by corporations.

Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington, D.C. The Firm’s Founding Partners, Joseph Levi and Eduard Korsinsky, have been representing shareholders and institutional clients for almost 20 years and have achieved remarkable results for clients in the U.S. and internationally. The firm, with more than 80 employees, is committed to fostering, cultivating and preserving a culture of diversity, equity and inclusion for employees and those that we represent. Our attorneys have extensive expertise representing investors in securities litigation with a track record of recovering hundreds of millions of dollars in cases. Levi & Korsinsky was ranked in Institutional Shareholder Services’ (“ISS”) SCAS Top 50 Report for 7 years in a row as a top securities litigation firm in the United States. The SCAS Top 50 Report identifies the top plaintiffs’ securities law firms in the country, and year after year, ISS has recognized Levi & Korsinsky as a leading firm in the area of securities class action litigation.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/88612

info

RAAX – ETF of the Week: VanEck Vectors Real Asset Allocation ETF (RAAX)

ETF Trends CEO Tom Lydon discussed the VanEck Vectors Real Asset Allocation ETF (RAAX) on this week’s “ETF of the Week” podcast with Chuck Jaffe on the MoneyLife Show.

RAAX is an actively managed fund of funds that seeks to maximize long-term real returns. It invests in ETPs with exposure to real assets, such as real estate, commodities, natural resources, or infrastructure, and may hold up to 100% cash or equivalents.

Real assets have the potential to protect investors’ portfolios from the effects of rising inflation. Many market observers believed that we would not have high inflation and that any inflationary forces would be mild. This was not correct. As of May 31, 2021, the year-over-year inflation change was 5%, based on the Consumer Price Index.

Commodities and other real assets have significantly underperformed the stock market since the great financial crisis. Following the market bottom, in March 2009, the S&P 500 Index has returned a gain of 561% versus a loss of 15% for the Bloomberg Commodity Index. With higher inflation, real assets have finally awoken from their decade-plus hibernation, and most are leading the markets higher. The lost decade-plus in commodities has created a situation where, relative to stocks, the prices of commodities and natural resource equities may still be cheap and have a lot more room to run.

Gold has, so far, been left behind in the latest inflation-led rally, but that may be starting to change as inflation concerns rise. Over the past month, the price of gold has increased from $1,685 per ounce to hovering around the $1,900 level. No firm conclusions can be drawn yet from such a short period of time, but history does tell us that gold is likely to kick into overdrive if high inflation persists.

Opportunity In Bitcoin?

RAAX now has exposure to bitcoin. There was an initial investment of 2% into the Grayscale Bitcoin Trust. Digital assets may offer RAAX many of the same benefits as gold. Most notably, protection against inflation and currency debasement in addition to overall portfolio diversification.

Bitcoin has sometimes been referred to as ‘digital gold,’ with supporters suggesting it could be a good safe-haven investment. The cryptocurrency has tended to trade closer to equity markets in recent times and has been plagued by massive volatility, making investors fortunes or crushed them. Like gold, it is scarce, cannot be counterfeited, and is easily exchangeable. These attributes have created competition between bitcoin and gold.

Listen to the full podcast episode on the RAAX:


For more podcast episodes featuring Tom Lydon, visit our podcasts category.

RKT – Rocket Companies (RKT) Gains But Lags Market: What You Should Know

Rocket Companies (RKT Free Report) closed the most recent trading day at $20.14, moving +0.55% from the previous trading session. This change lagged the S&P 500’s 0.58% gain on the day.

Heading into today, shares of the company had gained 14.72% over the past month, outpacing the Business Services sector’s gain of 3.24% and the S&P 500’s gain of 2.17% in that time.

Wall Street will be looking for positivity from RKT as it approaches its next earnings report date.

For the full year, our Zacks Consensus Estimates are projecting earnings of $2.14 per share and revenue of $12.85 billion, which would represent changes of -47.93% and -18.36%, respectively, from the prior year.

Any recent changes to analyst estimates for RKT should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 13.8% lower. RKT is holding a Zacks Rank of #5 (Strong Sell) right now.

Valuation is also important, so investors should note that RKT has a Forward P/E ratio of 9.37 right now. This represents a discount compared to its industry’s average Forward P/E of 33.8.

Investors should also note that RKT has a PEG ratio of 0.94 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock’s expected earnings growth rate. The Technology Services was holding an average PEG ratio of 2.7 at yesterday’s closing price.

The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 225, putting it in the bottom 12% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

TGT – Target (TGT) Outpaces Stock Market Gains: What You Should Know

Target (TGT Free Report) closed at $239.84 in the latest trading session, marking a +1.07% move from the prior day. The stock outpaced the S&P 500’s daily gain of 0.58%.

Coming into today, shares of the retailer had gained 4.49% in the past month. In that same time, the Retail-Wholesale sector gained 3.43%, while the S&P 500 gained 2.17%.

Wall Street will be looking for positivity from TGT as it approaches its next earnings report date. The company is expected to report EPS of $3.27, down 3.25% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $24.53 billion, up 6.76% from the prior-year quarter.

TGT’s full-year Zacks Consensus Estimates are calling for earnings of $11.83 per share and revenue of $102.11 billion. These results would represent year-over-year changes of +25.58% and +9.13%, respectively.

Investors should also note any recent changes to analyst estimates for TGT. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. TGT is currently sporting a Zacks Rank of #1 (Strong Buy).

Digging into valuation, TGT currently has a Forward P/E ratio of 20.07. Its industry sports an average Forward P/E of 23.33, so we one might conclude that TGT is trading at a discount comparatively.

Also, we should mention that TGT has a PEG ratio of 1.51. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company’s expected earnings growth rate. The Retail – Discount Stores was holding an average PEG ratio of 1.86 at yesterday’s closing price.

The Retail – Discount Stores industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 27, putting it in the top 11% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

ALGN – Align Technology (ALGN) Outpaces Stock Market Gains: What You Should Know

Align Technology (ALGN Free Report) closed at $617.39 in the latest trading session, marking a +1.91% move from the prior day. This move outpaced the S&P 500’s daily gain of 0.58%.

Heading into today, shares of the maker of the Invisalign tooth-straightening system had gained 1.53% over the past month, lagging the Medical sector’s gain of 2.01% and the S&P 500’s gain of 2.17% in that time.

ALGN will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $2.56, up 831.43% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $937.52 million, up 166.11% from the prior-year quarter.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $10.53 per share and revenue of $3.79 billion. These totals would mark changes of +100.57% and +53.42%, respectively, from last year.

Any recent changes to analyst estimates for ALGN should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.42% higher within the past month. ALGN currently has a Zacks Rank of #2 (Buy).

Digging into valuation, ALGN currently has a Forward P/E ratio of 57.53. For comparison, its industry has an average Forward P/E of 22.52, which means ALGN is trading at a premium to the group.

Investors should also note that ALGN has a PEG ratio of 2.48 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company’s expected earnings growth rate. Medical – Dental Supplies stocks are, on average, holding a PEG ratio of 1.8 based on yesterday’s closing prices.

The Medical – Dental Supplies industry is part of the Medical sector. This group has a Zacks Industry Rank of 97, putting it in the top 39% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow ALGN in the coming trading sessions, be sure to utilize Zacks.com.

BNGO – Bionano Genomics, Inc. (BNGO) Stock Sinks As Market Gains: What You Should Know

Bionano Genomics, Inc. (BNGO Free Report) closed at $7.15 in the latest trading session, marking a -1.38% move from the prior day. This change lagged the S&P 500’s 0.58% gain on the day.

Coming into today, shares of the company had gained 20.43% in the past month. In that same time, the Medical sector gained 2.01%, while the S&P 500 gained 2.17%.

Investors will be hoping for strength from BNGO as it approaches its next earnings release. The company is expected to report EPS of -$0.05, up 44.44% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.3 million, up 179.66% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.19 per share and revenue of $15.6 million. These totals would mark changes of +51.28% and +83.44%, respectively, from last year.

Investors should also note any recent changes to analyst estimates for BNGO. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. BNGO is currently sporting a Zacks Rank of #3 (Hold).

The Medical – Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 210, putting it in the bottom 18% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

COWN – Cowen Group (COWN) Outpaces Stock Market Gains: What You Should Know

Cowen Group (COWN Free Report) closed at $43.67 in the latest trading session, marking a +1.21% move from the prior day. This change outpaced the S&P 500’s 0.58% gain on the day.

Coming into today, shares of the financial services company had gained 8.96% in the past month. In that same time, the Finance sector lost 0.7%, while the S&P 500 gained 2.17%.

Investors will be hoping for strength from COWN as it approaches its next earnings release. The company is expected to report EPS of $1.49, down 73.81% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $351.94 million, down 37.01% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.82 per share and revenue of $1.75 billion. These totals would mark changes of -22.43% and +12.69%, respectively, from last year.

Investors should also note any recent changes to analyst estimates for COWN. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. COWN is currently sporting a Zacks Rank of #5 (Strong Sell).

Digging into valuation, COWN currently has a Forward P/E ratio of 4.89. Its industry sports an average Forward P/E of 11.41, so we one might conclude that COWN is trading at a discount comparatively.

The Financial – Investment Bank industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 110, which puts it in the top 44% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

FCX – Freeport-McMoRan (FCX) Outpaces Stock Market Gains: What You Should Know

Freeport-McMoRan (FCX Free Report) closed at $37.52 in the latest trading session, marking a +0.91% move from the prior day. This move outpaced the S&P 500’s daily gain of 0.58%.

Coming into today, shares of the mining company had lost 10.02% in the past month. In that same time, the Basic Materials sector lost 4.41%, while the S&P 500 gained 2.17%.

FCX will be looking to display strength as it nears its next earnings release. On that day, FCX is projected to report earnings of $0.78 per share, which would represent year-over-year growth of 2500%. Our most recent consensus estimate is calling for quarterly revenue of $5.91 billion, up 93.66% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $3.19 per share and revenue of $23.51 billion, which would represent changes of +490.74% and +65.62%, respectively, from the prior year.

Any recent changes to analyst estimates for FCX should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 10.51% higher. FCX is holding a Zacks Rank of #1 (Strong Buy) right now.

Investors should also note FCX’s current valuation metrics, including its Forward P/E ratio of 11.67. This represents a discount compared to its industry’s average Forward P/E of 15.99.

Investors should also note that FCX has a PEG ratio of 0.41 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company’s expected earnings growth rate. The Mining – Non Ferrous was holding an average PEG ratio of 0.58 at yesterday’s closing price.

The Mining – Non Ferrous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 37, putting it in the top 15% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow FCX in the coming trading sessions, be sure to utilize Zacks.com.