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 Trading Up 3.2 %

Shares of FCX Stock opened at $31.23 on Friday. The stock's fifty day simple moving average is $30.31 and its 200 day simple moving average is $39.09. Freeport-McMoRan has a twelve month low of $24.80 and a twelve month high of $51.99. The firm has a market capitalization of $45.26 billion, a P/E ratio of 9.49, a P/E/G ratio of 0.34 and a beta of 2.01. 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 (NYSE:FCX - Get Rating) last released its quarterly earnings data on Thursday, July 21st. The natural resource company reported $0.58 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 business had revenue of $5.42 billion for the quarter, compared to analysts' expectations of $6.20 billion. During the same period last year, the company earned $0.77 earnings per share. Freeport-McMoRan's revenue for the quarter was down 5.8% compared to the same quarter last year. As a group, sell-side analysts predict that Freeport-McMoRan will post 3.14 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Investors 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 1.92%. Freeport-McMoRan's dividend payout ratio (DPR) is presently 9.12%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on FCX. Exane BNP Paribas upgraded 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. Raymond James cut their target price on shares of Freeport-McMoRan from $59.00 to $52.00 and set an "outperform" rating for the company in a research report on Monday, July 4th. BMO Capital Markets cut their price target on shares of Freeport-McMoRan from $62.00 to $56.00 and set an "outperform" rating for the company in a research report on Friday, April 22nd. Citigroup increased their target price on shares of Freeport-McMoRan from $28.00 to $29.00 in a report on Friday, July 22nd. Finally, The Goldman Sachs Group decreased their price target on shares of Freeport-McMoRan from $54.00 to $46.00 and set a "buy" rating for the company in a research note on Thursday, July 14th. One investment 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's stock. Based on data from MarketBeat, Freeport-McMoRan has an average rating of "Hold" and an average price target of $42.00.

Insider Buying and Selling

In other Freeport-McMoRan news, Director Sara Grootwassink Lewis bought 3,000 shares of Freeport-McMoRan stock in a transaction on Wednesday, August 3rd. The shares were acquired at an average price of $28.79 per share, for a total transaction of $86,370.00. Following the completion of the purchase, the director now directly owns 13,800 shares in the company, valued at approximately $397,302. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 stock was sold at an average price of $39.24, for a total value of $321,768.00. Following 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. 0.72% of the stock is owned by insiders.