Freeport-McMoRan (NYSE:FCX) Issues Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Freeport-McMoRan (NYSE:FCX) announced its earnings results on Thursday. The natural resource company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05), Zacks reports. Freeport-McMoRan had a return on equity of 7.40% and a net margin of 7.81%.

Freeport-McMoRan Stock Down 1.9 %

Freeport-McMoRan stock opened at $37.78 on Friday. 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 company’s 50-day moving average is $40.81 and its 200-day moving average is $43.95. The firm has a market capitalization of $54.29 billion, a PE ratio of 27.58, a P/E/G ratio of 2.39 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.

Analysts Set New Price Targets

FCX has been the topic of a number of research reports. BMO Capital Markets cut their price target on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday. Jefferies Financial Group lowered Freeport-McMoRan from a “buy” rating to a “hold” rating and dropped their target price for the company from $48.00 to $40.00 in a research report on Friday. Scotiabank reduced their price target on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a research report on Friday. JPMorgan Chase & Co. lowered their price objective on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, Raymond James boosted their price objective 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. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Freeport-McMoRan currently has an average rating of “Moderate Buy” and an average target price of $51.46.

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.