Freeport-McMoRan (FCX) to Release Quarterly Earnings on Thursday

Freeport-McMoRan (NYSE:FCX) is set to post its quarterly earnings results before the market opens on Thursday, April 25th. Analysts expect Freeport-McMoRan to post earnings of $0.06 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings results on Thursday, January 24th. The natural resource company reported $0.11 EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.07). Freeport-McMoRan had a net margin of 12.12% and a return on equity of 15.77%. The business had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.86 billion. During the same period in the previous year, the business posted $0.51 EPS. The firm’s revenue was down 26.9% on a year-over-year basis. On average, analysts expect Freeport-McMoRan to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Shares of NYSE:FCX opened at $13.65 on Tuesday. The company has a quick ratio of 1.79, a current ratio of 3.22 and a debt-to-equity ratio of 0.62. Freeport-McMoRan has a 12 month low of $9.60 and a 12 month high of $19.27. The stock has a market capitalization of $19.52 billion, a P/E ratio of 8.98 and a beta of 2.26.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Friday, April 12th. Freeport-McMoRan’s payout ratio is 13.16%.

In other Freeport-McMoRan news, VP C Donald Whitmire, Jr. sold 7,425 shares of the firm’s stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $11.58, for a total value of $85,981.50. Following the completion of the sale, the vice president now owns 67,974 shares of the company’s stock, valued at $787,138.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.05% of the stock is owned by company insiders.

A number of research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Thursday, April 11th. UBS Group set a $14.00 price objective on shares of Freeport-McMoRan and gave the stock a “hold” rating in a research note on Friday, April 5th. ValuEngine raised shares of Freeport-McMoRan from a “sell” rating to a “hold” rating in a research note on Wednesday, January 30th. Morgan Stanley downgraded shares of Freeport-McMoRan from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 13th. Finally, Credit Suisse Group started coverage on shares of Freeport-McMoRan in a research note on Wednesday, January 9th. They issued a “neutral” rating and a $12.00 price objective for the company. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $15.57.

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Freeport-McMoRan Company Profile

Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. 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 in Peru and El Abra in Chile.

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Earnings History for Freeport-McMoRan (NYSE:FCX)

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