Freeport-McMoRan (FCX) closed at $39.22 in the latest trading session, marking a +1.32% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.67%.In that report, analysts expect FCX to post earnings of $0.69 per share. This would mark year-over-year growth of 2200%. Our most recent consensus estimate is calling for quarterly revenue of $5.5 billion, up 80.2% from the year-ago period.Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.70 per share and revenue of $21.9 billion. These totals would mark changes of +400% and +54.23%, respectively, from last year.It is also important to note the recent changes to analyst estimates for FCX. 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. Within the past 30 days, our consensus EPS projection has moved 7.39% higher. FCX is currently sporting a Zacks Rank of #3 (Hold).In terms of valuation, FCX is currently trading at a Forward P/E ratio of 14.35. For comparison, its industry has an average Forward P/E of 15.89, which means FCX is trading at a discount to the group.Meanwhile, FCX's PEG ratio is currently 0.51. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Mining - Non Ferrous was holding an average PEG ratio of 0.74 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 103, putting it in the top 41% of all 250+ industries.The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report FreeportMcMoRan Inc. (FCX): Free Stock Analysis Report To read this article on Zacks.com click here.