Scotiabank Lowers Earnings Estimates for Freeport-McMoRan

Freeport-McMoRan Inc. (NYSE:FCX) – Analysts at Scotiabank decreased their FY2025 earnings estimates for shares of Freeport-McMoRan in a research note issued on Wednesday, March 19th. Scotiabank analyst O. Wowkodaw now forecasts that the natural resource company will post earnings per share of $1.12 for the year, down from their prior forecast of $1.21. Scotiabank currently has a “Sector Perform” rating and a $45.00 target price on the stock. The consensus estimate for Freeport-McMoRan’s current full-year earnings is $1.68 per share.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%.

Several other brokerages also recently issued reports on FCX. Argus downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. StockNews.com lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Thursday. Jefferies Financial Group upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and lifted their price target for the stock from $40.00 to $48.00 in a report on Thursday, February 27th. Dbs Bank raised shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 10th. Finally, JPMorgan Chase & Co. raised Freeport-McMoRan from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $48.00 to $52.00 in a research note on Thursday. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $52.04.

Freeport-McMoRan Price Performance

Freeport-McMoRan stock opened at $40.31 on Friday. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. The firm’s 50-day simple moving average is $38.03 and its 200 day simple moving average is $41.96. Freeport-McMoRan has a 52 week low of $33.98 and a 52 week high of $55.24. The firm has a market capitalization of $57.93 billion, a PE ratio of 31.25, a P/E/G ratio of 0.87 and a beta of 1.87.

Institutional Investors Weigh In On Freeport-McMoRan

A number of institutional investors have recently made changes to their positions in FCX. Prospera Private Wealth LLC increased its stake in shares of Freeport-McMoRan by 4.4% in the third quarter. Prospera Private Wealth LLC now owns 5,548 shares of the natural resource company’s stock valued at $277,000 after buying an additional 234 shares in the last quarter. Continuum Advisory LLC grew its holdings in Freeport-McMoRan by 46.8% during the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock worth $37,000 after acquiring an additional 236 shares during the last quarter. Coppell Advisory Solutions LLC lifted its position in shares of Freeport-McMoRan by 47.4% during the fourth quarter. Coppell Advisory Solutions LLC now owns 833 shares of the natural resource company’s stock worth $32,000 after purchasing an additional 268 shares in the last quarter. PFG Investments LLC grew its stake in shares of Freeport-McMoRan by 1.3% during the fourth quarter. PFG Investments LLC now owns 22,910 shares of the natural resource company’s stock valued at $872,000 after purchasing an additional 283 shares during the last quarter. Finally, Larson Financial Group LLC increased its holdings in shares of Freeport-McMoRan by 14.6% in the third quarter. Larson Financial Group LLC now owns 2,252 shares of the natural resource company’s stock valued at $112,000 after purchasing an additional 287 shares in the last quarter. 80.77% of the stock is currently owned by institutional investors.

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.