About Freeport-McMoran (NYSE:FCX)
Freeport-McMoRan Inc. (FCX) is a mining company. The Company operates through geographical assets with proven and probable reserves of copper, gold and molybdenum, and traded copper producer. The Company's segments include refined copper products, copper in concentrate, gold, molybdenum, oil and other. The Company's segments include the Morenci, Cerro Verde, Grasberg copper mines, the Rod & Refining operations and the United States (U.S.) Oil and Gas Operations. The Company has organized its operations into five divisions, which include North America copper mines, South America mining, Indonesia mining and Molybdenum mines. The Company's portfolio of assets includes the Grasberg minerals district in Indonesia, copper and gold deposits, and mining operations in the Americas, including the large-scale Morenci minerals district in North America and the Cerro Verde operation in South America.
Industry, Sector and Symbol:
- Sector: Basic Materials
- Industry: Integrated Mining
- Sub-Industry: Diversified Metals & Mining
- Symbol: NYSE:FCX
- CUSIP: 35671D85
- Web: www.fcx.com
- Market Cap: $21.43 billion
- Outstanding Shares: 1,447,307,000
- 50 Day Moving Avg: $14.44
- 200 Day Moving Avg: $13.26
- 52 Week Range: $9.85 - $17.06
Sales & Book Value:
- Trailing P/E Ratio: 20.89
- Foreward P/E Ratio: 9.68
- P/E Growth: 0.20
- Annual Revenue: $15.31 billion
- Price / Sales: 1.40
- Book Value: $4.61 per share
- Price / Book: 3.21
- EBITDA: $5.2 billion
- Net Margins: 5.97%
- Return on Equity: 10.45%
- Return on Assets: 2.60%
- Debt-to-Equity Ratio: 1.31%
- Current Ratio: 2.11%
- Quick Ratio: 1.37%
- Average Volume: 19.25 million shs.
- Beta: 2.54
- Short Ratio: 2.8
Frequently Asked Questions for Freeport-McMoran (NYSE:FCX)
What is Freeport-McMoran's stock symbol?
Freeport-McMoran trades on the New York Stock Exchange (NYSE) under the ticker symbol "FCX."
How were Freeport-McMoran's earnings last quarter?
Freeport-McMoran, Inc. (NYSE:FCX) posted its earnings results on Tuesday, July, 25th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.21 by $0.04. The firm earned $3.71 billion during the quarter, compared to the consensus estimate of $3.67 billion. Freeport-McMoran had a net margin of 5.97% and a return on equity of 10.45%. The business's revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.02) EPS. View Freeport-McMoran's Earnings History.
When will Freeport-McMoran make its next earnings announcement?
Where is Freeport-McMoran's stock going? Where will Freeport-McMoran's stock price be in 2017?
16 equities research analysts have issued 1-year price objectives for Freeport-McMoran's stock. Their predictions range from $10.40 to $22.00. On average, they expect Freeport-McMoran's stock price to reach $15.69 in the next year. View Analyst Ratings for Freeport-McMoran.
What are analysts saying about Freeport-McMoran stock?
Here are some recent quotes from research analysts about Freeport-McMoran stock:
- 1. According to Zacks Investment Research, "Freeport is taking actions to reduce mining costs and manage capital spending amid a still challenging operating environment. The company's cost-cutting actions should lend support to its margins in 2017. Freeport also remains actively focused on deleveraging its balance sheet, partly through assets sale. It is also conducting exploration activities near its existing mines with a focus on opportunities to expand reserves that will support the development of additional future production capacity." (10/10/2017)
- 2. FBR & Co analysts commented, "Over the weekend, another deadline has come and gone in Freeport's negotiations with the Government of Indonesia. The lack of any apparent material progress over the course of this year (and prior) leads us to believe that either a sale and/or arbitration are increasingly the most likely outcome in the prolonged dispute. We believe that either path holds additional risks for Freeport. The more favorable scenarios in which Freeport could continue to export concentrates while negotiations continue or a 'grand solution' appear less likely now. In our opinion, an argument that a sale might be the best outcome for Freeport is an acknowledgment that the company has few good options to choose from. We are concerned that if discussions move towards a sale process, investors will be paying close attention to the risk of value leakage, given the unique regulatory circumstances in Indonesia. Major questions would include how Freeport's assets are valued and how quickly Freeport divests, among others. Freeport can choose to go to arbitration around June/July of this year, which may be a catalyst for a mutually acceptable exit from Indonesia." (3/28/2017)
- 3. Jefferies Group LLC analysts commented, "Despite extensive negotiations, Freeport and Indonesia have made little progress regarding conversion of Freeport's COW to an IUPK, local ownership of PT-FI, smelter development, and long-term mining rights. Grasberg is operating at a reduced rate, and the FCX investment case depends on a resolution to the dispute. In this report, we include a detailed analysis of Freeport's options and conclude that a sale of its stake in Grasberg may be best." (3/28/2017)
- 4. Barclays PLC analysts commented, "Hold FCX shares for now. We think that the market has bid up the stock to fair value in anticipation of a relatively quick resolution of the political overhang at Grasberg - and a view that any lingering production disruption will end up as a net positive, with FCX gaining more from a tighter copper market than it loses from a near-or-medium term reduction in output. Remember FCX is effectively a pure-play copper mining stock at this point, and at spot $2.65/lb as of this writing copper has outrun our 1Q17 /FY17 global forecasts of $2.40/lb and $2.48/lb, respectively." (1/30/2017)
Are investors shorting Freeport-McMoran?
Freeport-McMoran saw a increase in short interest in September. As of September 15th, there was short interest totalling 39,143,379 shares, an increase of 15.0% from the August 31st total of 34,034,371 shares. Based on an average daily volume of 19,459,606 shares, the days-to-cover ratio is presently 2.0 days. Currently, 2.7% of the shares of the stock are sold short.
Who are some of Freeport-McMoran's key competitors?
Some companies that are related to Freeport-McMoran include Anglo American plc (AAL), Teck Resources Ltd (TECK), Fresnillo Plc (FRES), South32 Ltd (S32), Turquoise Hill Resources (TRQ), Polymetal International PLC (POLY), KAZ Minerals PLC (KAZ), Allegheny Technologies Incorporated (ATI), Yamana Gold (AUY), Vedanta Resources plc (VED), New Gold (NGD), New Gold (NGD), Pretium Resources (PVG), MAG Silver Corp (MAG), Seabridge Gold (SA), Fortuna Silver Mines (FSM), McEwen Mining (MUX) and Northern Dynasty Minerals Ltd (NAK).
Who are Freeport-McMoran's key executives?
Freeport-McMoran's management team includes the folowing people:
- Richard C. Adkerson, Vice Chairman of the Board, President, Chief Executive Officer
- Kathleen L. Quirk, Chief Financial Officer, Executive Vice President, Treasurer
- Harry M. Conger IV, President and Chief Operating Officer - Americas
- Michael J. Arnold, Executive Vice President, Chief Administrative Officer
- Gerald J. Ford, Independent Non-Executive Chairman of the Board
- Lydia H. Kennard, Independent Director
- Andrew Langham, Independent Director
- Jon C. Madonna, Independent Director
- Courtney R. Mather, Independent Director
Who owns Freeport-McMoran stock?
Freeport-McMoran's stock is owned by many different of institutional and retail investors. Top institutional investors include Nationwide Fund Advisors (0.04%), Ingalls & Snyder LLC (0.03%), State Treasurer State of Michigan (0.03%), Centre Asset Management LLC (0.02%), Mutual of America Capital Management LLC (0.02%) and Shell Asset Management Co. (0.01%). Company insiders that own Freeport-McMoran stock include C Donald Whitmire Jr, Courtney Mather, Harry M Iv Conger and Jon C/ Madonna. View Institutional Ownership Trends for Freeport-McMoran.
Who sold Freeport-McMoran stock? Who is selling Freeport-McMoran stock?
Freeport-McMoran's stock was sold by a variety of institutional investors in the last quarter, including Private Asset Management Inc., State Treasurer State of Michigan and Ingalls & Snyder LLC. Company insiders that have sold Freeport-McMoran stock in the last year include C Donald Whitmire Jr, Harry M Iv Conger and Jon C/ Madonna. View Insider Buying and Selling for Freeport-McMoran.
Who bought Freeport-McMoran stock? Who is buying Freeport-McMoran stock?
Freeport-McMoran's stock was purchased by a variety of institutional investors in the last quarter, including Centre Asset Management LLC, Nationwide Fund Advisors, Shell Asset Management Co., Barometer Capital Management Inc., Meeder Asset Management Inc., Exane Derivatives, Robeco Institutional Asset Management B.V. and Oakbrook Investments LLC. Company insiders that have bought Freeport-McMoran stock in the last two years include Courtney Mather and Harry M Iv Conger. View Insider Buying and Selling for Freeport-McMoran.
How do I buy Freeport-McMoran stock?
Shares of Freeport-McMoran can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is Freeport-McMoran's stock price today?
MarketBeat Community Rating for Freeport-McMoran (NYSE FCX)MarketBeat's community ratings are surveys of what our community members think about Freeport-McMoran and other stocks. Vote "Outperform" if you believe the stock will outperform the S&P 500 over the long term. Vote "Underperform" if you believe the stock will underperform the S&P 500 over the long term. You may vote once every thirty days.
One share of Freeport-McMoran stock can currently be purchased for approximately $14.81.
Consensus Ratings for Freeport-McMoran (NYSE:FCX) (How are Consensus Ratings Calculated?)
MarketBeat calculates consensus ratings using the most recent rating from each brokerage that has rated a stock within the last twelve months. Since brokers often use different ratings systems, each rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings. Each stock's consensus rating is derived from its calculated consensus ratings score (0-1.5 = Sell, 1.5-2.5 = Hold, 2.5-3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months.
MarketBeat will no longer include ratings and price target data in its consensus calculation if a broker drops coverage and MarketBeat has received a report that coverage was dropped. Ratings from certain research firms that issue ratings using purely quantitative methods (such as Zacks, Vetr and ValuEngine) are not included in consensus calculations. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.
|Ratings Breakdown: ||2 Sell Ratings, 10 Hold Ratings, 4 Buy Ratings|
|Consensus Rating:||Hold (Score: 2.13)|
|Consensus Price Target: ||$15.69 (5.96% upside)|Consensus Price Target History for Freeport-McMoran (NYSE:FCX)
Analysts' Ratings History for Freeport-McMoran (NYSE:FCX)
(Data available from 10/23/2015 forward)
|Date||Firm||Action||Rating||Price Target||Impact on Share Price||Details|
|10/20/2017||FBR & Co||Set Price Target||Hold||$12.00||N/A|
|10/17/2017||Deutsche Bank AG||Downgrade||Hold -> Sell||$13.00||N/A|
|10/11/2017||Royal Bank Of Canada||Set Price Target||Hold||$14.00||N/A|
|10/4/2017||Jefferies Group LLC||Reiterated Rating||Buy||$23.00 -> $19.00||Low|
|9/15/2017||CIBC||Initiated Coverage||Sector Outperform -> Sector Outperform||$18.00||Low|
|9/7/2017||Macquarie||Initiated Coverage||Neutral -> Neutral||$16.00||Medium|
|9/5/2017||Berenberg Bank||Reiterated Rating||Sell||$10.40||High|
|8/29/2017||Stifel Nicolaus||Set Price Target||Hold||$15.00||High|
|8/29/2017||Vertical Research||Reiterated Rating||Buy||$20.00||Low|
|8/15/2017||Raymond James Financial, Inc.||Initiated Coverage||Mkt Perform -> Market Perform||$15.00||Medium|
|7/27/2017||Cowen and Company||Boost Price Target||Outperform -> Outperform||$20.00 -> $22.00||High|
|7/26/2017||BMO Capital Markets||Set Price Target||Hold||$14.87 -> $17.00||High|
|7/10/2017||Clarkson Capital||Reiterated Rating||Neutral||Medium|
|2/21/2017||Citigroup Inc.||Initiated Coverage||Neutral -> Neutral||$16.00||N/A|
|2/9/2017||J P Morgan Chase & Co||Initiated Coverage||Overweight -> Neutral||$14.00||N/A|
|1/30/2017||Barclays PLC||Reiterated Rating||Equal Weight||$14.00||N/A|
|10/17/2016||Bank of America Corporation||Initiated Coverage||Underperform||$8.00||N/A|
|9/14/2016||Morgan Stanley||Downgrade||Equal Weight -> Underweight||$9.00 -> $7.00||N/A|
|7/7/2016||HSBC Holdings plc||Reiterated Rating||Buy||N/A|
|5/19/2016||Goldman Sachs Group, Inc. (The)||Initiated Coverage||Neutral||$12.00||N/A|
|4/8/2016||Nomura||Boost Price Target||$7.00 -> $10.00||N/A|
|3/1/2016||Scotiabank||Downgrade||Outperform -> Sector Perform||N/A|
|2/3/2016||Argus||Downgrade||Buy -> Hold||N/A|
Earnings History for Freeport-McMoran (NYSE:FCX)Earnings History by Quarter for Freeport-McMoran (NYSE FCX)
(Data available from 1/1/2011 forward)
|Date||Quarter||Consensus Estimate||Actual EPS||Revenue Estimate||Actual Revenue||Release Link||Conference Call||Details|
|7/25/2017||Q2 17||$0.21||$0.17||$3.67 billion||$3.71 billion||View||N/A|
|4/25/2017||Q1 17||$0.16||$0.15||$3.51 billion||$3.34 billion||View||N/A|
|1/25/2017||Q416||$0.33||$0.25||$4.34 billion||$4.38 billion||View||N/A|
|10/25/2016||Q316||$0.19||$0.13||$3.95 billion||$3.88 billion||View||Listen|
|7/26/2016||Q216||($0.01)||($0.02)||$3.70 billion||$3.33 billion||View||Listen|
|4/26/2016||Q116||($0.17)||($0.16)||$3.52 billion||$3.53 billion||View||Listen|
|1/26/2016||Q415||($0.17)||($0.02)||$3.89 billion||$3.80 billion||View||Listen|
|10/22/2015||Q315||($0.08)||($0.15)||$3.96 billion||$3.68 billion||View||Listen|
|7/23/2015||Q215||$0.07||$0.14||$4.30 billion||$4.25 billion||View||Listen|
|4/23/2015||Q115||($0.07)||($0.06)||$4.06 billion||$4.15 billion||View||N/A|
|1/27/2015||Q414||$0.35||$0.25||$4.93 billion||$5.24 billion||View||N/A|
|10/28/2014||Q314||$0.61||$0.64||$5.65 billion||$5.70 billion||View||Listen|
|7/23/2014||Q214||$0.49||$0.58||$5.24 billion||$5.52 billion||View||N/A|
|4/24/2014||Q114||$0.41||$0.49||$5.01 billion||$4.99 billion||View||Listen|
|1/22/2014||Q413||$0.81||$0.84||$6.39 billion||$5.90 billion||View||Listen|
|10/22/2013||Q313||$0.62||$0.79||$5.68 billion||$6.17 billion||View||Listen|
|7/23/2013||Q2 2013||$0.41||$0.49||$4.28 billion||$4.29 billion||View||N/A|
|4/18/2013||Q1 2013||$0.81||$0.68||$4.76 billion||$4.58 billion||View||Listen|
|1/22/2013||Q4 2012||$0.72||$0.74||$4.48 billion||$4.51 billion||View||Listen|
Earnings Estimates for Freeport-McMoran (NYSE:FCX)
2017 EPS Consensus Estimate: $1.17
2018 EPS Consensus Estimate: $0.97
(Data provided by Zacks Investment Research)
|Quarter||Number of Estimates||Low Estimate||High Estimate||Average Estimate|
Current Dividend Information for Freeport-McMoran (NYSE:FCX)
|Most Recent Dividend:||11/2/2015|
|Dividend Growth:||0.00% (3 Year Average)|
|Payout Ratio:||0.00% (Trailing 12 Months of Earnings) |
0.00% (Based on This Year's Estimates)
0.00% (Based on Next Year's Estimates)
Dividend History by Quarter for Freeport-McMoran (NYSE FCX)
(Data available from 1/1/2013 forward)
|Announced||Period||Amount||Yield||Ex-Dividend Date||Record Date||Payable Date|
Insider Trading and Institutional Ownership History for Freeport-McMoran (NYSE:FCX)
Insider Ownership Percentage: 1.29%Insider Trades by Quarter for Freeport-McMoran (NYSE:FCX)
Institutional Ownership Percentage: 67.97%
(Data available from 1/1/2013 forward)
|Transaction Date||Insider Name||Title||Buy/Sell||Number of Shares||Average Share Price||Total Transaction||Details|
|9/7/2017||Harry M Iv Conger||COO||Buy||36,180||$15.23||$551,021.40|| |
|8/21/2017||C Donald Whitmire Jr||VP||Sell||1,050||$14.70||$15,435.00|| |
|2/16/2017||C Donald Whitmire Jr||VP||Sell||2,525||$15.22||$38,430.50|| |
|2/16/2017||Harry M Iv Conger||COO||Sell||77,500||$15.24||$1,181,100.00|| |
|2/9/2017||C Donald Whitmire Jr||VP||Sell||57,620||$15.42||$888,500.40|| |
|2/1/2017||Jon C/ Madonna||Director||Sell||14,000||$16.61||$232,540.00|| |
|10/27/2016||Courtney Mather||Director||Buy||150,000||$10.72||$1,608,000.00|| |
|9/4/2015||James C Flores||Vice Chairman||Buy||2,200,000||$9.70||$21,340,000.00|| |
|8/28/2015||James R Moffett||Chairman||Buy||100,000||$10.57||$1,057,000.00|| |
|8/18/2015||Gerald J Ford||Director||Buy||1,000,000||$9.94||$9,940,000.00|| |
|6/3/2015||James C Flores||Vice Chairman||Buy||60,000||$20.52||$1,231,200.00|| |
|12/12/2014||Michael J Arnold||CAO||Buy||50,000||$22.15||$1,107,500.00|| |
|12/11/2014||James C Flores||Chairman||Buy||500,000||$23.60||$11,800,000.00|| |
|5/28/2014||Robert Day||Director||Sell||186,000||$33.77||$6,281,220.00|| |
|5/7/2014||H Devon Graham, Jr.||Director||Sell||1,890||$34.06||$64,373.40|| |
|11/7/2013||J Bennett Johnston||Director||Buy||20,000||$36.72||$734,400.00|| |
|11/4/2013||J Bennett Johnston||Director||Buy||18,900||$37.13||$701,757.00|| |
|10/25/2013||James C Flores||Chairman||Buy||1,500,000||$37.45||$56,175,000.00|| |
|8/2/2013||Gerald Ford||Director||Buy||1,000,000||$29.18||$29,180,000.00|| |
|8/1/2013||Bobby Lee Lackey||Director||Buy||1,800||$29.09||$52,362.00|| |
|7/30/2013||James R Moffett||Chairman||Buy||1,000,000||$28.53||$28,530,000.00|| |
|7/26/2013||J Taylor Wharton||Director||Sell||9,416||$28.61||$269,391.76|| |
|7/26/2013||James C Flores||Chairman||Buy||517,350||$28.65||$14,822,077.50|| |
|6/3/2013||James C Flores||Chairman||Buy||1,100,000||$31.17||$34,287,000.00|| |
|3/1/2013||J Bennett Johnston||Director||Buy||16,000||$31.48||$503,680.00|| |
Headline Trends for Freeport-McMoran (NYSE:FCX)
Latest Headlines for Freeport-McMoran (NYSE:FCX)
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Freeport-McMoran (FCX) Chart for Monday, October, 23, 2017