Analysts Expect Freeport-McMoRan Inc (FCX) to Post $0.26 Earnings Per Share

Equities research analysts expect Freeport-McMoRan Inc (NYSE:FCX) to post earnings of $0.26 per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Freeport-McMoRan’s earnings, with the highest EPS estimate coming in at $0.32 and the lowest estimate coming in at $0.20. Freeport-McMoRan reported earnings of $0.51 per share in the same quarter last year, which indicates a negative year over year growth rate of 49%. The firm is expected to announce its next earnings report on Thursday, January 24th.

On average, analysts expect that Freeport-McMoRan will report full-year earnings of $1.70 per share for the current fiscal year, with EPS estimates ranging from $1.60 to $1.96. For the next year, analysts forecast that the business will post earnings of $0.93 per share, with EPS estimates ranging from $0.57 to $1.39. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Freeport-McMoRan.

Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Wednesday, October 24th. The natural resource company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.33 by $0.02. The firm had revenue of $4.91 billion for the quarter, compared to the consensus estimate of $4.50 billion. Freeport-McMoRan had a net margin of 15.80% and a return on equity of 22.63%. The business’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.34 EPS.

Several research analysts recently commented on FCX shares. TheStreet downgraded shares of Freeport-McMoRan from a “b-” rating to a “c+” rating in a report on Monday, November 19th. ValuEngine upgraded shares of Freeport-McMoRan from a “strong sell” rating to a “sell” rating in a report on Friday, September 21st. Deutsche Bank set a $15.00 target price on shares of Freeport-McMoRan and gave the stock a “hold” rating in a report on Tuesday, October 2nd. Barclays started coverage on shares of Freeport-McMoRan in a report on Wednesday, October 10th. They issued an “underweight” rating and a $12.00 target price on the stock. Finally, B. Riley dropped their target price on shares of Freeport-McMoRan from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, September 19th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the stock. Freeport-McMoRan has an average rating of “Hold” and an average price target of $16.71.

In other news, Director Courtney Mather sold 75,000 shares of the business’s stock in a transaction dated Tuesday, October 30th. The shares were sold at an average price of $11.15, for a total transaction of $836,250.00. Following the transaction, the director now owns 152,133 shares in the company, valued at approximately $1,696,282.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.05% of the company’s stock.

Several large investors have recently bought and sold shares of FCX. Alps Advisors Inc. boosted its position in shares of Freeport-McMoRan by 27.2% during the 2nd quarter. Alps Advisors Inc. now owns 14,947 shares of the natural resource company’s stock valued at $283,000 after acquiring an additional 3,200 shares in the last quarter. Independent Advisor Alliance boosted its position in shares of Freeport-McMoRan by 9.6% during the 2nd quarter. Independent Advisor Alliance now owns 37,659 shares of the natural resource company’s stock valued at $583,000 after acquiring an additional 3,311 shares in the last quarter. Atlas Capital Advisors LLC boosted its position in shares of Freeport-McMoRan by 34.2% during the 2nd quarter. Atlas Capital Advisors LLC now owns 13,510 shares of the natural resource company’s stock valued at $227,000 after acquiring an additional 3,445 shares in the last quarter. Wedbush Securities Inc. boosted its position in shares of Freeport-McMoRan by 11.0% during the 2nd quarter. Wedbush Securities Inc. now owns 45,500 shares of the natural resource company’s stock valued at $785,000 after acquiring an additional 4,503 shares in the last quarter. Finally, World Asset Management Inc boosted its position in shares of Freeport-McMoRan by 5.3% during the 3rd quarter. World Asset Management Inc now owns 93,487 shares of the natural resource company’s stock valued at $1,301,000 after acquiring an additional 4,702 shares in the last quarter. Institutional investors own 70.43% of the company’s stock.

FCX traded down $0.19 during trading on Thursday, hitting $11.90. The stock had a trading volume of 182,703 shares, compared to its average volume of 15,966,267. The company has a market capitalization of $17.30 billion, a PE ratio of 10.21 and a beta of 2.45. Freeport-McMoRan has a 12 month low of $10.59 and a 12 month high of $20.25. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.84 and a quick ratio of 1.78.

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc engages in the mining of mineral properties in the United States, Indonesia, Peru, and Chile. The company primarily explores for copper, gold, molybdenum, silver, and other metals, as well as oil and gas. Its assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde and El Abra mines in South America.

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Earnings History and Estimates for Freeport-McMoRan (NYSE:FCX)

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