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.

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.