Research Analysts Issue Forecasts for FCX FY2025 Earnings

Freeport-McMoRan Inc. (NYSE:FCX - Free Report) - Research analysts at Scotiabank lifted their FY2025 earnings estimates for shares of Freeport-McMoRan in a research note issued to investors on Tuesday, July 15th. Scotiabank analyst O. Wowkodaw now expects that the natural resource company will post earnings per share of $1.46 for the year, up from their prior forecast of $1.24. Scotiabank has a "Sector Outperform" rating and a $52.00 price target on the stock. The consensus estimate for Freeport-McMoRan's current full-year earnings is $1.68 per share.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its earnings results on Thursday, April 24th. The natural resource company reported $0.24 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. The business had revenue of $5.73 billion for the quarter, compared to analyst estimates of $5.36 billion. Freeport-McMoRan had a net margin of 7.11% and a return on equity of 7.03%. The company's quarterly revenue was down 9.4% compared to the same quarter last year. During the same period last year, the company posted $0.32 earnings per share.

Several other brokerages have also issued reports on FCX. Wolfe Research raised shares of Freeport-McMoRan from a "peer perform" rating to an "outperform" rating and set a $39.00 price objective on the stock in a report on Wednesday, April 16th. Bank of America reissued a "neutral" rating and set a $56.00 price objective on shares of Freeport-McMoRan in a report on Wednesday, July 9th. Citigroup lifted their price objective on shares of Freeport-McMoRan from $44.00 to $48.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. JPMorgan Chase & Co. lifted their price objective on shares of Freeport-McMoRan from $42.00 to $56.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. Finally, UBS Group lowered shares of Freeport-McMoRan from a "buy" rating to a "neutral" rating and lifted their price objective for the company from $45.00 to $50.00 in a report on Friday, July 11th. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $50.71.

Freeport-McMoRan Trading Down 0.2%

Shares of NYSE:FCX traded down $0.11 during trading on Friday, reaching $44.35. 1,900,490 shares of the company were exchanged, compared to its average volume of 13,791,921. The firm has a market capitalization of $63.74 billion, a PE ratio of 36.58, a P/E/G ratio of 0.82 and a beta of 1.64. The business's fifty day simple moving average is $41.67 and its 200-day simple moving average is $38.70. Freeport-McMoRan has a 12-month low of $27.66 and a 12-month high of $52.61. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.32 and a quick ratio of 1.13.

Institutional Investors Weigh In On Freeport-McMoRan

Institutional investors and hedge funds have recently made changes to their positions in the stock. Brighton Jones LLC lifted its position in Freeport-McMoRan by 24.2% during the fourth quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company's stock valued at $564,000 after purchasing an additional 2,882 shares during the period. Bank Pictet & Cie Europe AG lifted its position in Freeport-McMoRan by 27.2% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 540,046 shares of the natural resource company's stock valued at $20,565,000 after purchasing an additional 115,552 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in Freeport-McMoRan by 10.1% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 36,405 shares of the natural resource company's stock valued at $1,386,000 after purchasing an additional 3,333 shares during the period. Creative Financial Designs Inc. ADV lifted its position in Freeport-McMoRan by 92.8% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 1,918 shares of the natural resource company's stock valued at $73,000 after purchasing an additional 923 shares during the period. Finally, Intech Investment Management LLC acquired a new position in Freeport-McMoRan during the fourth quarter valued at $943,000. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Freeport-McMoRan

In other news, CAO Ellie L. Mikes sold 8,584 shares of Freeport-McMoRan stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $40.02, for a total transaction of $343,531.68. Following the completion of the sale, the chief accounting officer directly owned 48,333 shares in the company, valued at approximately $1,934,286.66. The trade was a 15.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.75% of the company's stock.

Freeport-McMoRan Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 15th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.35%. Freeport-McMoRan's payout ratio is currently 24.79%.

About Freeport-McMoRan

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.

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