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) released its quarterly earnings data on Tuesday, April, 25th. The company reported $0.15 earnings per share for the quarter, missing analysts' consensus estimates of $0.16 by $0.01. The firm had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.51 billion. Freeport-McMoRan had a net margin of 7.90% and a return on equity of 12.32%. The firm's revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.16) earnings per share. View Freeport-McMoRan's Earnings History.

13 brokerages have issued 1 year price targets for Freeport-McMoRan's shares. Their predictions range from $7.00 to $20.00. On average, they anticipate Freeport-McMoRan's share price to reach $13.27 in the next twelve months. View Analyst Ratings for Freeport-McMoRan.

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

• 1. 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)
• 2. 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)
• 3. According to Zacks Investment Research, "Freeport swung to a profit in fourth-quarter 2016, aided by its cost-saving actions. However, adjusted earnings missed the Zacks Consensus Estimate. Revenues rose by double digits on higher copper and gold sales, and beat expectations. Freeport has outperformed the Zacks categorized Mining-Non Ferrous industry in the past three months. The company is taking actions to manage costs and capital spending amid a still challenging operating environment. Freeport also remains focused on de-leveraging 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 remains affected by supply-related issues and slowdown in China (a major market). Moreover, the company faces uncertainties surrounding the Grasberg mine." (1/30/2017)
• 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 drop in short interest in May. As of May 31st, there was short interest totalling 63,555,052 shares, a drop of 11.5% from the May 15th total of 71,830,379 shares. Based on an average daily trading volume, of 17,214,835 shares, the short-interest ratio is presently 3.7 days. Currently, 4.7% of the company's stock are sold short.

Some companies that are related to Freeport-McMoRan include BHP Billiton PLC (BBL), Anglo American plc (AAL), Fresnillo Plc (FRES), Teck Resources Ltd (TECK), South32 Ltd (S32), Turquoise Hill Resources (TRQ), Polymetal International PLC (POLY), Yamana Gold (AUY), KAZ Minerals PLC (KAZ), Allegheny Technologies Incorporated (ATI), New Gold (NGD), New Gold (NGD), Pretium Resources (PVG), Vedanta Resources plc (VED), McEwen Mining (MUX), Fortuna Silver Mines (FSM), SolGold plc (SOLG) and Central Asia Metals Ltd (CAML).

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 many different of retail and institutional investors. Top institutional shareholders include Vanguard Group Inc. (9.20%), ICAHN CARL C (6.33%), State Street Corp (4.49%), Clearbridge Investments LLC (3.29%), FMR LLC (2.93%) and Bank of New York Mellon Corp (1.02%). Company insiders that own Freeport-McMoRan stock include C Donald Whitmire Jr, Courtney Mather, Gerald J Ford, 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 Wellington Management Group LLP, Dimensional Fund Advisors LP, Morgan Stanley, Clearbridge Investments LLC, Los Angeles Capital Management & Equity Research Inc., AQR Capital Management LLC, Janus Capital Management LLC and Parametric Portfolio Associates LLC. 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 FMR LLC, Vanguard Group Inc., Westpac Banking Corp, Manning & Napier Advisors LLC, Capital Growth Management LP, Bank of New York Mellon Corp, State of New Jersey Common Pension Fund D and State Street Corp. Company insiders that have bought Freeport-McMoRan stock in the last two years include Courtney Mather, Gerald J Ford, 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 $11.76.