Freeport-McMoRan - FCX Stock Forecast, Price & News

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.

Analysts Set New Price Targets

A number of research firms have recently commented on FCX. Raymond James cut their target price on Freeport-McMoRan from $59.00 to $52.00 and set an "outperform" rating on the stock in a research note on Monday, July 4th. Credit Suisse Group lowered their target price on shares of Freeport-McMoRan to $34.00 in a research note on Friday, July 22nd. The Goldman Sachs Group reduced their price target on shares of Freeport-McMoRan from $54.00 to $46.00 and set a "buy" rating on the stock in a research note on Thursday, July 14th. Royal Bank of Canada lifted their price objective on shares of Freeport-McMoRan from $46.00 to $47.00 and gave the company a "sector perform" rating in a report on Friday, April 22nd. Finally, Wolfe Research downgraded shares of Freeport-McMoRan from an "outperform" rating to a "peer perform" rating in a research note on Thursday, July 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Freeport-McMoRan presently has a consensus rating of "Hold" and an average target price of $42.00.

Freeport-McMoRan Stock Down 0.2 %

Shares of FCX Stock traded down $0.05 during mid-day trading on Friday, hitting $31.62. 10,878,756 shares of the stock traded hands, compared to its average volume of 19,575,952. Freeport-McMoRan has a 52-week low of $24.80 and a 52-week high of $51.99. The stock has a market cap of $45.83 billion, a P/E ratio of 9.61, a P/E/G ratio of 0.34 and a beta of 2.01. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.73 and a quick ratio of 1.94. The stock's fifty day moving average is $31.22 and its two-hundred day moving average is $39.27.

Freeport-McMoRan (NYSE:FCX - Get Rating) last announced 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). The firm had revenue of $5.42 billion during the quarter, compared to analyst estimates of $6.20 billion. Freeport-McMoRan had a net margin of 20.08% and a return on equity of 22.04%. Freeport-McMoRan's revenue was down 5.8% on a year-over-year basis. During the same quarter last year, the business earned $0.77 earnings per share. Equities analysts predict that Freeport-McMoRan will post 3.16 EPS for the current year.

Freeport-McMoRan Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 1st. Shareholders of record on Friday, July 15th were issued 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 dividend payout ratio is presently 9.12%.

Insider Transactions at Freeport-McMoRan

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