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Freeport-McMoRan - FCX Stock Forecast, Price & News

$31.62
-0.05 (-0.16%)
(As of 08/12/2022 12:00 AM ET)
Add
Compare
Today's Range
$31.06
$31.69
50-Day Range
$25.09
$43.39
52-Week Range
$24.80
$51.99
Volume
10.88 million shs
Average Volume
19.58 million shs
Market Capitalization
$45.83 billion
P/E Ratio
9.61
Dividend Yield
0.95%
Price Target
$42.00

Freeport-McMoRan MarketRank™ Forecast

Analyst Rating
Hold
2.47 Rating Score
Upside/​Downside
32.8% Upside
$42.00 Price Target
Short Interest
Healthy
1.93% of Float Sold Short
Dividend Strength
Weak
Based on Four Factors
Sustainability
-8.34
Upright™ Environmental Score
News Sentiment
0.42mentions of Freeport-McMoRan in the last 14 days
Based on 16 Articles This Week
Insider Trading
Selling Shares
$321,768 Sold Last Quarter
Proj. Earnings Growth
-22.15%
From $3.16 to $2.46 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

3.07 out of 5 stars

Basic Materials Sector

6th out of 172 stocks

Metal Mining Industry

1st out of 18 stocks

FCX stock logo

About Freeport-McMoRan (NYSE:FCX) Stock

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. The company also operates a portfolio of oil and gas properties primarily located in offshore California and the Gulf of Mexico. As of December 31, 2021, it operated approximately 135 wells. The company was formerly known as Freeport-McMoRan Copper & Gold Inc. and changed its name to Freeport-McMoRan Inc. in July 2014. Freeport-McMoRan Inc. was incorporated in 1987 and is headquartered in Phoenix, Arizona.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on FCX. Clarkson Capital reiterated a "neutral" rating on shares of Freeport-McMoRan in a research report on Tuesday, June 14th. StockNews.com lowered Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Friday, July 8th. Exane BNP Paribas raised Freeport-McMoRan from a "neutral" rating to an "outperform" rating and set a $34.00 price objective on the stock in a research note on Wednesday, July 13th. The Goldman Sachs Group reduced their price objective on Freeport-McMoRan from $54.00 to $46.00 and set a "buy" rating on the stock in a research note on Thursday, July 14th. Finally, Citigroup boosted their price objective on Freeport-McMoRan from $28.00 to $29.00 in a research note on Friday, July 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Freeport-McMoRan presently has a consensus rating of "Hold" and an average price target of $42.00.

Freeport-McMoRan Trading Down 0.2 %

Shares of FCX opened at $31.62 on Friday. The company has a quick ratio of 1.94, a current ratio of 2.73 and a debt-to-equity ratio of 0.42. Freeport-McMoRan has a 12-month low of $24.80 and a 12-month high of $51.99. The firm has a market capitalization of $45.83 billion, a PE ratio of 9.61, a price-to-earnings-growth ratio of 0.33 and a beta of 2.01. The stock's fifty day simple moving average is $31.22 and its 200-day simple moving average is $39.27.

Freeport-McMoRan (NYSE:FCX - Get Rating) last released its earnings results on Thursday, July 21st. The natural resource company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.31). Freeport-McMoRan had a net margin of 20.08% and a return on equity of 22.04%. The company had revenue of $5.42 billion during the quarter, compared to analyst estimates of $6.20 billion. During the same period in the previous year, the company posted $0.77 EPS. The company's quarterly revenue was down 5.8% compared to the same quarter last year. As a group, research analysts predict that Freeport-McMoRan will post 3.24 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 1st. Shareholders of record on Friday, July 15th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.90%. The ex-dividend date was Thursday, July 14th. Freeport-McMoRan's payout ratio is 9.12%.

Insider Buying and Selling at Freeport-McMoRan

In other Freeport-McMoRan news, Director Dustan E. Mccoy sold 8,200 shares of the stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $39.24, for a total value of $321,768.00. Following the transaction, the director now owns 134,400 shares of the company's stock, valued at $5,273,856. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Freeport-McMoRan news, Director Sara Grootwassink Lewis purchased 3,000 shares of the stock in a transaction on Wednesday, August 3rd. The stock was bought at an average cost of $28.79 per share, for a total transaction of $86,370.00. Following the completion of the acquisition, the director now directly owns 13,800 shares of the company's stock, valued at $397,302. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dustan E. Mccoy sold 8,200 shares of the stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $39.24, for a total value of $321,768.00. Following the completion of the sale, the director now owns 134,400 shares of the company's stock, valued at $5,273,856. The disclosure for this sale can be found here. Insiders own 0.72% of the company's stock.

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FCX Stock News Headlines

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How Does Freeport McMoran Inc Compare to Its Sector Competitors?
Freeport McMoran Inc recently reported its earnings with mixed results. Investors may be interested to see how this company's performance compares to its peers.
MarketBeat: Week in Review 7/25 – 7/29 (FCX)
The markets are rallying as big tech earnings are lifting investors' spirits. Here are some of the stocks our analysts were looking at this week.
Falling Copper Prices Weigh On Freeport McMoran's Earnings, But Long Term Fundamentals Intact
Freeport McMoran Inc (NYSE: FCX)  is an American mining company based out of Pheonix, Arizona.  The company’s stock rose slightly despite weaker than expected results.
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Apple (AAPL) is making moves behind the scenes to prepare for a downturn…Bloomberg recently reported that the tech giant plans to freeze hiring in some divisions- while remaining cautious on spending through next year. And the thing is, Apple isn’t alone…Bottom-line: Apple might be pointing to a massive recession in the U.S. If you have any serious assets in the market, there is one critical step you must take now.
See More Headlines
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FCX Company Calendar

Ex-Dividend for 8/1 Dividend
7/14/2022
Last Earnings
7/21/2022
Dividend Payable
8/01/2022
Today
8/13/2022
Next Earnings (Estimated)
10/20/2022
Fiscal Year End
12/31/2022

Industry, Sector and Symbol

Industry
Metal mining
Sub-Industry
Diversified Metals & Mining
CUSIP
35671D85
Employees
24,700
Year Founded
1987

Price Target and Rating

Average Stock Price Forecast
$42.00
High Stock Price Forecast
$65.00
Low Stock Price Forecast
$24.00
Forecasted Upside/Downside
+32.8%
Consensus Rating
Hold
Rating Score (0-4)
2.47
Research Coverage
17 Analysts

Profitability

Net Income
$4.31 billion
Pretax Margin
35.63%

Debt

Sales & Book Value

Annual Sales
$22.85 billion
Cash Flow
$4.55 per share
Book Value
$16.59 per share

Miscellaneous

Outstanding Shares
1,449,260,000
Free Float
1,438,827,000
Market Cap
$45.83 billion
Optionable
Optionable
Beta
2.01

Social Links















FCX Stock - Frequently Asked Questions

Should I buy or sell Freeport-McMoRan stock right now?

17 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Freeport-McMoRan in the last year. There are currently 1 sell rating, 7 hold ratings and 9 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "hold" FCX shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in FCX, but not buy additional shares or sell existing shares.
View FCX analyst ratings
or view top-rated stocks.

What is Freeport-McMoRan's stock price forecast for 2022?

17 brokers have issued twelve-month target prices for Freeport-McMoRan's stock. Their FCX share price forecasts range from $24.00 to $65.00. On average, they expect the company's stock price to reach $42.00 in the next year. This suggests a possible upside of 32.8% from the stock's current price.
View analysts price targets for FCX
or view top-rated stocks among Wall Street analysts.

How have FCX shares performed in 2022?

Freeport-McMoRan's stock was trading at $41.73 on January 1st, 2022. Since then, FCX shares have decreased by 24.2% and is now trading at $31.62.
View the best growth stocks for 2022 here
.

Are investors shorting Freeport-McMoRan?

Freeport-McMoRan saw a drop in short interest in the month of July. As of July 31st, there was short interest totaling 27,780,000 shares, a drop of 10.2% from the July 15th total of 30,930,000 shares. Based on an average daily volume of 21,110,000 shares, the days-to-cover ratio is presently 1.3 days. Currently, 1.9% of the shares of the company are sold short.
View Freeport-McMoRan's Short Interest
.

When is Freeport-McMoRan's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, October 20th 2022.
View our FCX earnings forecast
.

How were Freeport-McMoRan's earnings last quarter?

Freeport-McMoRan Inc. (NYSE:FCX) issued its earnings results on Thursday, July, 21st. The natural resource company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by $0.31. The natural resource company had revenue of $5.42 billion for the quarter, compared to analysts' expectations of $6.20 billion. Freeport-McMoRan had a trailing twelve-month return on equity of 22.04% and a net margin of 20.08%. The company's revenue was down 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.77 earnings per share.
Read the conference call transcript
.

How often does Freeport-McMoRan pay dividends? What is the dividend yield for Freeport-McMoRan?

Freeport-McMoRan announced a quarterly dividend on Wednesday, June 22nd. Investors of record on Friday, July 15th will be paid a dividend of $0.15 per share on Monday, August 1st. This represents a $0.60 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Thursday, July 14th.
Read our dividend analysis for FCX
.

Is Freeport-McMoRan a good dividend stock?

Freeport-McMoRan (NYSE:FCX) pays an annual dividend of $0.30 per share and currently has a dividend yield of 0.95%. The company does not yet have a strong track record of dividend growth. The dividend payout ratio is 9.12%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, FCX will have a dividend payout ratio of 12.20% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for FCX.

What is Richard C. Adkerson's approval rating as Freeport-McMoRan's CEO?

233 employees have rated Freeport-McMoRan Chief Executive Officer Richard C. Adkerson on Glassdoor.com. Richard C. Adkerson has an approval rating of 87% among the company's employees.

What other stocks do shareholders of Freeport-McMoRan own?

Based on aggregate information from My MarketBeat watchlists, some companies that other Freeport-McMoRan investors own include Micron Technology (MU), Bank of America (BAC), Intel (INTC), General Electric (GE), AT&T (T), NVIDIA (NVDA), Alibaba Group (BABA), Apollo Commercial Real Estate Finance (ARI), Cisco Systems (CSCO) and Gilead Sciences (GILD).

What is Freeport-McMoRan's stock symbol?

Freeport-McMoRan trades on the New York Stock Exchange (NYSE) under the ticker symbol "FCX."

Who are Freeport-McMoRan's major shareholders?

Freeport-McMoRan's stock is owned by many different institutional and retail investors. Top institutional investors include FMR LLC (8.28%), Northern Trust Corp (1.22%), Clearbridge Investments LLC (0.82%), TD Asset Management Inc. (0.38%), Allspring Global Investments Holdings LLC (0.33%) and Sumitomo Mitsui Trust Holdings Inc. (0.31%). Insiders that own company stock include C Donald Whitmire Jr, Dustan E Mccoy, Gerald J Ford, Gerald J Ford, Hugh Grant, John Joseph Stephens, Kathleen L Quirk, Richard C Adkerson and Sara Grootwassink Lewis.
View institutional ownership trends
.

How do I buy shares of Freeport-McMoRan?

Shares of FCX stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

What is Freeport-McMoRan's stock price today?

One share of FCX stock can currently be purchased for approximately $31.62.

How much money does Freeport-McMoRan make?

Freeport-McMoRan (NYSE:FCX) has a market capitalization of $45.83 billion and generates $22.85 billion in revenue each year. The natural resource company earns $4.31 billion in net income (profit) each year or $3.29 on an earnings per share basis.

How many employees does Freeport-McMoRan have?

The company employs 24,700 workers across the globe.

When was Freeport-McMoRan founded?

Freeport-McMoRan was founded in 1987.

How can I contact Freeport-McMoRan?

Freeport-McMoRan's mailing address is 333 NORTH CENTRAL AVENUE, PHOENIX AZ, 85004. The official website for the company is www.fcx.com. The natural resource company can be reached via phone at (602) 366-8100, via email at ir@fmi.com, or via fax at 504-582-1847.

This page (NYSE:FCX) was last updated on 8/13/2022 by MarketBeat.com Staff

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