$0.59 EPS Expected for Freeport-McMoRan (FCX) This Quarter

Equities analysts expect Freeport-McMoRan (NYSE:FCX) to announce $0.59 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Freeport-McMoRan’s earnings. The highest EPS estimate is $0.72 and the lowest is $0.51. Freeport-McMoRan reported earnings per share of $0.15 in the same quarter last year, which suggests a positive year-over-year growth rate of 293.3%. The company is scheduled to report its next earnings results before the market opens on Tuesday, April 24th.

According to Zacks, analysts expect that Freeport-McMoRan will report full year earnings of $2.34 per share for the current year, with EPS estimates ranging from $1.92 to $2.74. For the next year, analysts forecast that the business will post earnings of $1.66 per share, with EPS estimates ranging from $0.76 to $2.22. Zacks’ EPS averages are an average based on a survey of analysts that follow Freeport-McMoRan.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Thursday, January 25th. The natural resource company reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.02. The company had revenue of $5.04 billion during the quarter, compared to analyst estimates of $4.89 billion. Freeport-McMoRan had a net margin of 11.08% and a return on equity of 16.57%. Freeport-McMoRan’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.25 earnings per share.



A number of analysts have recently weighed in on FCX shares. CIBC lowered shares of Freeport-McMoRan from a “sector outperform” rating to a “neutral” rating in a report on Monday, January 22nd. Stifel Nicolaus increased their target price on shares of Freeport-McMoRan from $16.00 to $18.00 and gave the stock a “hold” rating in a report on Tuesday, February 6th. Jefferies Group set a $25.00 target price on shares of Freeport-McMoRan and gave the stock a “buy” rating in a report on Monday. Goldman Sachs started coverage on shares of Freeport-McMoRan in a report on Tuesday, March 20th. They set a “buy” rating and a $23.00 target price for the company. Finally, Scotiabank reiterated a “hold” rating and set a $19.00 target price on shares of Freeport-McMoRan in a report on Monday, January 8th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $17.41.

In other news, VP C Donald Whitmire, Jr. sold 21,500 shares of Freeport-McMoRan stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $19.49, for a total transaction of $419,035.00. Following the completion of the transaction, the vice president now directly owns 70,239 shares in the company, valued at $1,368,958.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.29% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. American Beacon Advisors Inc. purchased a new position in shares of Freeport-McMoRan during the fourth quarter valued at approximately $131,000. Thompson Davis & CO. Inc. lifted its holdings in shares of Freeport-McMoRan by 756.8% during the fourth quarter. Thompson Davis & CO. Inc. now owns 9,348 shares of the natural resource company’s stock valued at $177,000 after purchasing an additional 8,257 shares during the last quarter. Ballew Advisors Inc purchased a new position in shares of Freeport-McMoRan during the fourth quarter valued at approximately $190,000. Sowell Financial Services LLC purchased a new position in shares of Freeport-McMoRan during the fourth quarter valued at approximately $196,000. Finally, Belpointe Asset Management LLC purchased a new position in shares of Freeport-McMoRan during the third quarter valued at approximately $150,000. Hedge funds and other institutional investors own 70.14% of the company’s stock.

Shares of Freeport-McMoRan stock traded up $0.01 during trading on Friday, reaching $17.87. 9,700,317 shares of the stock were exchanged, compared to its average volume of 18,682,229. The company has a current ratio of 2.14, a quick ratio of 1.37 and a debt-to-equity ratio of 1.04. The firm has a market cap of $26,032.23, a P/E ratio of 15.31 and a beta of 2.42. Freeport-McMoRan has a 1 year low of $11.05 and a 1 year high of $20.25.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Friday, April 13th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $0.20 annualized dividend and a dividend yield of 1.12%.

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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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