FCX has been on the rise since the start of the year
American mining company Freeport-McMoRan Inc (NYSE:FCX) will announce quarterly results ahead of the open Thursday, Jan. 23. Per Zacks Investment Research, weaker copper prices in the fourth quarter are likely to have an impact, while analysts expect earnings of 25 cents per share.
FCX's recent post-earnings history shows mixed results. The stock finished higher after two of the four quarters last year, and the same the year prior, averaging a 2.7% move, regardless of direction. This time around, the options pits are pricing in a 6% next-day swing.
At last glance today, FCX was down 1.8% at $39.59, and looking to snap a six-day win streak. The shares have been on the rise since kicking off the year with a Jan. 3, 10-month low of $37.19, and sport roughly 4% year-over-year and year-to-date gains.
When weighing in on Freeport-McMoRan stock's next move, options look like a good way to go. The security's Schaeffer's Volatility Index (SVI) of 34% ranks in the low 20th percentile of its annual range, meaning options traders are pricing in low volatility expectations. The stock has tended to exceed these expectations over the past year, too, per its Schaeffer's Volatility Scorecard (SVS) of 81 out of 100.