Freeport-McMoRan (FCX) Projected to Post Quarterly Earnings on Thursday

Freeport-McMoRan (NYSE:FCX) will likely be posting its quarterly earnings results before the market opens on Thursday, January 23rd. Analysts expect Freeport-McMoRan to post earnings of $0.36 per share and revenue of $6,288,570.00 billion for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Tuesday, October 22nd. The natural resource company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.01. The firm had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.45 billion. Freeport-McMoRan had a net margin of 7.81% and a return on equity of 7.40%. The company’s revenue was up 16.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.39 EPS. On average, analysts expect Freeport-McMoRan to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Freeport-McMoRan Price Performance

Shares of NYSE FCX opened at $40.27 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.33 and a quick ratio of 1.30. The business has a 50-day moving average of $41.15 and a 200-day moving average of $44.20. The stock has a market capitalization of $57.86 billion, a price-to-earnings ratio of 29.39, a PEG ratio of 2.13 and a beta of 1.87. Freeport-McMoRan has a fifty-two week low of $36.26 and a fifty-two week high of $55.24.

Freeport-McMoRan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Wednesday, January 15th will be paid a $0.15 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.49%. Freeport-McMoRan’s dividend payout ratio is 21.90%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FCX. Scotiabank dropped their price objective on Freeport-McMoRan from $52.00 to $48.00 and set a “sector perform” rating on the stock in a research note on Monday, January 6th. Raymond James upped their price target on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Sanford C. Bernstein downgraded shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $51.00 to $46.00 in a research report on Tuesday, January 7th. StockNews.com cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Thursday, September 26th. Finally, Jefferies Financial Group cut their target price on shares of Freeport-McMoRan from $60.00 to $48.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $52.42.

Freeport-McMoRan Company Profile

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