Freeport-McMoran Company Profile (NYSE:FCX)

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

Freeport-McMoran, Inc. (NYSE:FCX) posted its quarterly earnings data on Tuesday, July, 25th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by $0.04. The company 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%. Freeport-McMoran's revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.02) earnings per share. View Freeport-McMoran's Earnings History.

Freeport-McMoran is scheduled to release their next quarterly earnings announcement on Monday, October, 23rd 2017. View Earnings Estimates for Freeport-McMoran.

15 equities research analysts have issued 1 year price targets for Freeport-McMoran's shares. Their forecasts range from $7.00 to $22.00. On average, they expect Freeport-McMoran's stock price to reach $13.86 in the next twelve months. View Analyst Ratings for Freeport-McMoran.

Here are some recent quotes from research analysts about Freeport-McMoran stock:

• 1. According to Zacks Investment Research, "Freeport’s adjusted earnings for second-quarter 2017 missed the Zacks Consensus Estimate while sales beat. The company cut its copper and gold sales volume guidance for 2017. Freeport is taking actions to manage costs and capital spending amid a still challenging operating environment. The company also remains 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. However, Freeport’s copper business is affected by supply-related issues and slowdown in China (a major market). Moreover, the company faces uncertainties surrounding the Grasberg mine in Indonesia. It is also exposed to a volatile copper pricing environment. Freeport has also underperformed the industry it belongs to over the past six months." (7/28/2017)
• 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)

Freeport-McMoran saw a decline in short interest during the month of July. As of July 31st, there was short interest totalling 40,098,883 shares, a decline of 16.8% from the July 14th total of 48,197,218 shares. Based on an average trading volume of 25,060,479 shares, the days-to-cover ratio is presently 1.6 days. Currently, 2.8% of the company's shares are short sold.

Some companies that are related to Freeport-McMoran include BHP Billiton PLC (BBL), 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), Yamana Gold (AUY), Vedanta Resources plc (VED), Allegheny Technologies Incorporated (ATI), New Gold (NGD), New Gold (NGD), Pretium Resources (PVG), MAG Silver Corp (MAG), McEwen Mining (MUX), Fortuna Silver Mines (FSM) and Seabridge Gold (SA).

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

Freeport-McMoran's stock is owned by a number of of institutional and retail investors. Top institutional shareholders include Vanguard Group Inc. (9.64%), Capital Research Global Investors (7.20%), ICAHN CARL C (6.33%), State Street Corp (4.49%), FMR LLC (2.30%) and Bank of New York Mellon Corp (1.42%). Company insiders that own Freeport-McMoran stock include C Donald Whitmire Jr, Courtney Mather, Harry M Iv Conger, James C Flores, James R Moffett and Jon C/ Madonna. View Institutional Ownership Trends for Freeport-McMoran.

Freeport-McMoran's stock was sold by a variety of institutional investors in the last quarter, including Capital Research Global Investors, FMR LLC, Westpac Banking Corp, Franklin Resources Inc., Fiera Capital Corp, Capital Growth Management LP, Cornerstone Capital Management Holdings LLC. and First Trust Advisors LP. 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.

Freeport-McMoran's stock was bought by a variety of institutional investors in the last quarter, including BT Investment Management Ltd, BlueMountain Capital Management LLC, Vanguard Group Inc., Bank of New York Mellon Corp, Contrarius Investment Management Ltd, Balyasny Asset Management LLC, Parametric Portfolio Associates LLC and TIAA CREF Investment Management LLC. Company insiders that have bought Freeport-McMoran stock in the last two years include Courtney Mather, James C Flores and James R Moffett. View Insider Buying and Selling for Freeport-McMoran.

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.

One share of Freeport-McMoran stock can currently be purchased for approximately $14.15.