Freeport-McMoRan (NYSE:FCX) is set to issue its earnings data before the market opens on Tuesday, January 26th. Analysts expect Freeport-McMoRan to post earnings of $0.37 per share for the quarter. Parties interested in listening to the company's conference call can do so using this link.
Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Thursday, October 22nd. The natural resource company reported $0.29 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $0.21 by $0.08. The firm had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.68 billion. Freeport-McMoRan had a negative net margin of 0.73% and a positive return on equity of 1.56%. Freeport-McMoRan's revenue was up 16.4% on a year-over-year basis. During the same period last year, the firm posted $0.01 EPS. On average, analysts expect Freeport-McMoRan to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.
NYSE:FCX opened at $30.35 on Tuesday. The company has a current ratio of 2.61, a quick ratio of 1.35 and a debt-to-equity ratio of 0.57. Freeport-McMoRan has a twelve month low of $4.82 and a twelve month high of $32.49. The company has a market cap of $44.09 billion, a PE ratio of -337.18 and a beta of 2.27. The company's 50 day moving average is $26.04 and its two-hundred day moving average is $18.47.
Several equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Freeport-McMoRan from $20.00 to $33.00 and gave the stock a "buy" rating in a research note on Wednesday, January 13th. The Goldman Sachs Group assumed coverage on Freeport-McMoRan in a research report on Wednesday, November 11th. They set a "conviction-buy" rating and a $25.00 price target for the company. B. Riley boosted their price target on Freeport-McMoRan from $26.00 to $30.00 and gave the company a "buy" rating in a research note on Tuesday, January 5th. Zacks Investment Research upgraded Freeport-McMoRan from a "hold" rating to a "strong-buy" rating and set a $18.00 price objective for the company in a research note on Tuesday, September 29th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $24.00 target price on shares of Freeport-McMoRan in a research report on Friday, September 25th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company's stock. The company presently has an average rating of "Buy" and an average target price of $20.88.
In related news, CFO Kathleen L. Quirk sold 485,000 shares of the business's stock in a transaction on Friday, December 4th. The stock was sold at an average price of $25.27, for a total value of $12,255,950.00. Following the sale, the chief financial officer now owns 1,890,655 shares in the company, valued at approximately $47,776,851.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard C. Adkerson sold 467,887 shares of the stock in a transaction dated Friday, December 4th. The stock was sold at an average price of $25.17, for a total value of $11,776,715.79. Following the transaction, the chief executive officer now directly owns 3,724,573 shares in the company, valued at approximately $93,747,502.41. The disclosure for this sale can be found here. Insiders sold a total of 977,387 shares of company stock worth $24,508,456 over the last three months. Insiders own 1.00% of the company's stock.
Freeport-McMoRan Company Profile
Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. 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 in Peru and El Abra in Chile.
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