Freeport-McMoRan (FCX) to Release Earnings on Thursday

Freeport-McMoRan (NYSE:FCX) is expected to be releasing its earnings data 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. Persons interested in participating in the company’s earnings conference call can do so using this link.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings results on Tuesday, October 22nd. The natural resource company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.01. Freeport-McMoRan had a net margin of 7.81% and a return on equity of 7.40%. The business had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.45 billion. During the same quarter last year, the business posted $0.39 EPS. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. 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 Stock Up 0.6 %

NYSE FCX opened at $40.27 on Tuesday. The business has a fifty day moving average price of $41.15 and a two-hundred day moving average price of $44.20. The stock has a market capitalization of $57.86 billion, a PE 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. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.33 and a quick ratio of 1.30.

Freeport-McMoRan Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Wednesday, January 15th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $0.60 annualized dividend and a dividend yield of 1.49%. Freeport-McMoRan’s dividend payout ratio is currently 21.90%.

Analysts Set New Price Targets

FCX has been the topic of a number of recent analyst reports. Raymond James lifted their target price on Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Jefferies Financial Group lowered their price objective on shares of Freeport-McMoRan from $60.00 to $48.00 and set a “buy” rating for the company in a research report on Monday, January 6th. JPMorgan Chase & Co. cut their target price on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Sanford C. Bernstein downgraded shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $51.00 to $46.00 in a report on Tuesday, January 7th. Finally, StockNews.com downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Thursday, September 26th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.