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.

Freeport-McMoRan Stock Down 3.7 %

FCX traded down $1.16 on Monday, hitting $30.46. The company had a trading volume of 615,184 shares, compared to its average volume of 19,602,959. The stock has a fifty day moving average price of $31.22 and a 200-day moving average price of $39.29. Freeport-McMoRan has a 12-month low of $24.80 and a 12-month high of $51.99. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.94 and a current ratio of 2.73. The stock has a market capitalization of $44.14 billion, a price-to-earnings ratio of 9.61, a P/E/G ratio of 0.34 and a beta of 2.01.

Freeport-McMoRan (NYSE:FCX - Get Rating) last posted 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). 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 analysts' expectations of $6.20 billion. During the same quarter last year, the firm earned $0.77 EPS. Freeport-McMoRan's revenue for the quarter was down 5.8% on a year-over-year basis. Analysts predict that Freeport-McMoRan will post 3.16 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 1st. Stockholders of record on Friday, July 15th were paid a dividend of $0.15 per share. The ex-dividend date was Thursday, July 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.97%. Freeport-McMoRan's payout ratio is 9.12%.

Analyst Ratings Changes

Several equities analysts have issued reports on FCX shares. Raymond James lowered their target price on shares of 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 lowered their target price 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. Exane BNP Paribas upgraded shares of Freeport-McMoRan from a "neutral" rating to an "outperform" rating and set a $34.00 target price on the stock in a research note on Wednesday, July 13th. Finally, Barclays lowered their target price on shares of Freeport-McMoRan from $29.00 to $24.00 and set an "underweight" rating on the stock in a research note on Tuesday, July 19th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Freeport-McMoRan has a consensus rating of "Hold" and an average price target of $42.00.

Insider Transactions at Freeport-McMoRan

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