Analysts expect that Freeport-McMoRan Inc (NYSE:FCX) will announce earnings of $0.60 per share for the current quarter, according to Zacks. Four analysts have provided estimates for Freeport-McMoRan’s earnings. The highest EPS estimate is $0.72 and the lowest is $0.51. Freeport-McMoRan posted earnings per share of $0.15 during the same quarter last year, which would indicate a positive year over year growth rate of 300%. The firm is scheduled to report its next earnings results on Tuesday, April 24th.
According to Zacks, analysts expect that Freeport-McMoRan will report full-year earnings of $2.31 per share for the current financial year, with EPS estimates ranging from $1.75 to $2.74. For the next fiscal year, analysts expect that the business will post earnings of $1.61 per share, with EPS estimates ranging from $0.70 to $2.22. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Freeport-McMoRan.
Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings results on Thursday, January 25th. The natural resource company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.02. Freeport-McMoRan had a return on equity of 16.57% and a net margin of 11.08%. The company had revenue of $5.04 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same quarter last year, the firm posted $0.25 earnings per share. The firm’s revenue was up 15.2% on a year-over-year basis.
A number of research firms have issued reports on FCX. TheStreet upgraded Freeport-McMoRan from a “c” rating to a “b-” rating in a report on Thursday, January 25th. Goldman Sachs began coverage on Freeport-McMoRan in a report on Tuesday. They issued a “buy” rating and a $23.00 price objective for the company. Stifel Nicolaus increased their price objective on Freeport-McMoRan from $16.00 to $18.00 and gave the stock a “hold” rating in a report on Tuesday, February 6th. Bank of America reiterated an “underperform” rating and issued a $16.00 price objective (up previously from $15.00) on shares of Freeport-McMoRan in a report on Friday, January 26th. Finally, Zacks Investment Research downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $17.06.
In other news, VP C Donald Whitmire, Jr. sold 21,500 shares of the firm’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $19.49, for a total transaction of $419,035.00. Following the completion of the transaction, the vice president now directly owns 70,239 shares in the company, valued at $1,368,958.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.29% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of FCX. Advisor Partners LLC boosted its position in shares of Freeport-McMoRan by 5.2% during the fourth quarter. Advisor Partners LLC now owns 52,835 shares of the natural resource company’s stock valued at $1,055,000 after buying an additional 2,610 shares during the last quarter. Wesbanco Bank Inc. boosted its position in shares of Freeport-McMoRan by 19.8% during the fourth quarter. Wesbanco Bank Inc. now owns 17,615 shares of the natural resource company’s stock valued at $334,000 after buying an additional 2,911 shares during the last quarter. Point View Wealth Management Inc. boosted its position in shares of Freeport-McMoRan by 17.0% during the fourth quarter. Point View Wealth Management Inc. now owns 21,554 shares of the natural resource company’s stock valued at $409,000 after buying an additional 3,135 shares during the last quarter. Grassi Investment Management boosted its position in shares of Freeport-McMoRan by 6.1% during the fourth quarter. Grassi Investment Management now owns 62,800 shares of the natural resource company’s stock valued at $1,191,000 after buying an additional 3,600 shares during the last quarter. Finally, FDx Advisors Inc. boosted its position in shares of Freeport-McMoRan by 14.2% during the third quarter. FDx Advisors Inc. now owns 30,414 shares of the natural resource company’s stock valued at $427,000 after buying an additional 3,790 shares during the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.
Shares of Freeport-McMoRan (NYSE:FCX) traded up $0.44 during mid-day trading on Tuesday, reaching $18.49. The company had a trading volume of 16,629,181 shares, compared to its average volume of 19,847,273. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.14 and a quick ratio of 1.37. The stock has a market capitalization of $26,582.42, a price-to-earnings ratio of 14.91 and a beta of 2.42. Freeport-McMoRan has a 12 month low of $11.05 and a 12 month high of $20.25.
Freeport-McMoRan Inc (FCX) is a mining company. The Company operates through geographical assets with proven and probable reserves of copper, gold and molybdenum, and traded copper producer. The Company’s segments include refined copper products, copper in concentrate, gold, molybdenum, oil and other.
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