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

FCX has been the topic of a number of recent analyst reports. StockNews.com cut Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Friday, July 8th. Raymond James reduced their target price on Freeport-McMoRan from $59.00 to $52.00 and set an "outperform" rating on the stock in a report on Monday, July 4th. Credit Suisse Group reduced their target price on Freeport-McMoRan to $34.00 in a report on Friday, July 22nd. BNP Paribas raised Freeport-McMoRan from a "neutral" rating to an "outperform" rating and set a $34.00 target price on the stock in a report on Wednesday, July 13th. Finally, Royal Bank of Canada lifted their target price on Freeport-McMoRan from $46.00 to $47.00 and gave the stock a "sector perform" rating in a report on Friday, April 22nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $42.00.

Freeport-McMoRan Stock Up 1.2 %

Shares of FCX Stock traded up $0.38 during trading hours on Tuesday, reaching $30.88. 58,007 shares of the company's stock were exchanged, compared to its average volume of 18,660,018. The stock's 50 day moving average is $30.97 and its 200-day moving average is $39.25. The company has a market cap of $44.75 billion, a price-to-earnings ratio of 9.27, a P/E/G ratio of 0.34 and a beta of 2.01. The company has a current ratio of 2.73, a quick ratio of 1.94 and a debt-to-equity ratio of 0.42. Freeport-McMoRan has a fifty-two week low of $24.80 and a fifty-two week high of $51.99.

Freeport-McMoRan (NYSE:FCX - Get Rating) last issued its quarterly earnings results on Thursday, July 21st. The natural resource company reported $0.58 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.89 by ($0.31). The business had revenue of $5.42 billion for the quarter, compared to analyst estimates of $6.20 billion. Freeport-McMoRan had a return on equity of 22.04% and a net margin of 20.08%. The business's revenue for the quarter was down 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.77 earnings per share. Analysts predict that Freeport-McMoRan will post 3.16 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Shareholders of record on Friday, July 15th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.94%. The ex-dividend date was Thursday, July 14th. Freeport-McMoRan's payout ratio is currently 9.12%.

Insider Transactions at Freeport-McMoRan

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