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Freeport-McMoRan - FCX Stock Forecast, Price & News

$30.50
-1.12 (-3.54%)
(As of 08/15/2022 12:00 AM ET)
Add
Compare
Today's Range
$29.76
$30.75
50-Day Range
$25.09
$43.39
52-Week Range
$24.80
$51.99
Volume
16.01 million shs
Average Volume
19.71 million shs
Market Capitalization
$44.20 billion
P/E Ratio
9.27
Dividend Yield
0.95%
Price Target
$42.00

Freeport-McMoRan MarketRank™ Forecast

Analyst Rating
Hold
2.47 Rating Score
Upside/​Downside
37.7% Upside
$42.00 Price Target
Short Interest
Healthy
1.93% of Float Sold Short
Dividend Strength
Weak
Based on Four Factors
Sustainability
-8.34
Upright™ Environmental Score
News Sentiment
0.39mentions of Freeport-McMoRan in the last 14 days
Based on 17 Articles This Week
Insider Trading
Selling Shares
$321,768 Sold Last Quarter
Proj. Earnings Growth
-22.15%
From $3.16 to $2.46 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

3.01 out of 5 stars

Basic Materials Sector

7th out of 177 stocks

Metal Mining Industry

1st out of 18 stocks

FCX stock logo

About Freeport-McMoRan (NYSE:FCX) Stock

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.

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FCX Stock News Headlines

MarketBeat: Week in Review 8/8 - 8/12 (FCX)
The market is moving higher with "better than expected" inflation news providing the fuel. Here are some stocks we believe you should look at this week
3 Stable Growth Stocks for Bumpy Times (FCX)
Let’s look at a few of the companies with the most stable growth profiles in the energy, materials, and technology sectors respectively.
How Does Freeport McMoran Inc Compare to Its Sector Competitors?
Freeport McMoran Inc recently reported its earnings with mixed results. Investors may be interested to see how this company's performance compares to its peers.
MarketBeat: Week in Review 7/25 – 7/29 (FCX)
The markets are rallying as big tech earnings are lifting investors' spirits. Here are some of the stocks our analysts were looking at this week.
Falling Copper Prices Weigh On Freeport McMoran's Earnings, But Long Term Fundamentals Intact
Freeport McMoran Inc (NYSE: FCX)  is an American mining company based out of Pheonix, Arizona.  The company’s stock rose slightly despite weaker than expected results.
See More Headlines
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FCX Company Calendar

Ex-Dividend for 8/1 Dividend
7/14/2022
Last Earnings
7/21/2022
Dividend Payable
8/01/2022
Today
8/15/2022
Next Earnings (Estimated)
10/20/2022
Fiscal Year End
12/31/2022

Industry, Sector and Symbol

Industry
Metal mining
Sub-Industry
Diversified Metals & Mining
CUSIP
35671D85
Employees
24,700
Year Founded
1987

Price Target and Rating

Average Stock Price Forecast
$42.00
High Stock Price Forecast
$65.00
Low Stock Price Forecast
$24.00
Forecasted Upside/Downside
+37.7%
Consensus Rating
Hold
Rating Score (0-4)
2.47
Research Coverage
17 Analysts

Profitability

Net Income
$4.31 billion
Pretax Margin
35.63%

Debt

Sales & Book Value

Annual Sales
$22.85 billion
Cash Flow
$4.39 per share
Book Value
$15.80 per share

Miscellaneous

Outstanding Shares
1,449,262,000
Free Float
1,438,827,000
Market Cap
$44.20 billion
Optionable
Optionable
Beta
2.01

Social Links















FCX Stock - Frequently Asked Questions

Should I buy or sell Freeport-McMoRan stock right now?

17 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Freeport-McMoRan in the last year. There are currently 1 sell rating, 7 hold ratings and 9 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "hold" FCX shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in FCX, but not buy additional shares or sell existing shares.
View FCX analyst ratings
or view top-rated stocks.

What is Freeport-McMoRan's stock price forecast for 2022?

17 equities research analysts have issued 1 year target prices for Freeport-McMoRan's stock. Their FCX share price forecasts range from $24.00 to $65.00. On average, they expect the company's share price to reach $42.00 in the next twelve months. This suggests a possible upside of 37.7% from the stock's current price.
View analysts price targets for FCX
or view top-rated stocks among Wall Street analysts.

How have FCX shares performed in 2022?

Freeport-McMoRan's stock was trading at $41.73 at the start of the year. Since then, FCX stock has decreased by 26.9% and is now trading at $30.50.
View the best growth stocks for 2022 here
.

Are investors shorting Freeport-McMoRan?

Freeport-McMoRan saw a decrease in short interest in the month of July. As of July 31st, there was short interest totaling 27,780,000 shares, a decrease of 10.2% from the July 15th total of 30,930,000 shares. Based on an average daily volume of 21,110,000 shares, the short-interest ratio is currently 1.3 days. Approximately 1.9% of the shares of the company are short sold.
View Freeport-McMoRan's Short Interest
.

When is Freeport-McMoRan's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, October 20th 2022.
View our FCX earnings forecast
.

How were Freeport-McMoRan's earnings last quarter?

Freeport-McMoRan Inc. (NYSE:FCX) posted its quarterly 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. The natural resource company had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $6.20 billion. Freeport-McMoRan had a net margin of 20.08% and a trailing twelve-month return on equity of 22.04%. The firm's revenue was down 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.77 EPS.
Read the conference call transcript
.

How often does Freeport-McMoRan pay dividends? What is the dividend yield for Freeport-McMoRan?

Freeport-McMoRan announced a quarterly dividend on Wednesday, June 22nd. Investors of record on Friday, July 15th will be given a dividend of $0.15 per share on Monday, August 1st. This represents a $0.60 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Thursday, July 14th.
Read our dividend analysis for FCX
.

Is Freeport-McMoRan a good dividend stock?

Freeport-McMoRan (NYSE:FCX) pays an annual dividend of $0.30 per share and currently has a dividend yield of 0.95%. The company does not yet have a strong track record of dividend growth. The dividend payout ratio is 9.12%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, FCX will have a dividend payout ratio of 12.20% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for FCX.

What is Richard C. Adkerson's approval rating as Freeport-McMoRan's CEO?

233 employees have rated Freeport-McMoRan Chief Executive Officer Richard C. Adkerson on Glassdoor.com. Richard C. Adkerson has an approval rating of 87% among the company's employees.

What other stocks do shareholders of Freeport-McMoRan own?

Based on aggregate information from My MarketBeat watchlists, some companies that other Freeport-McMoRan investors own include Micron Technology (MU), Bank of America (BAC), Intel (INTC), General Electric (GE), AT&T (T), NVIDIA (NVDA), Alibaba Group (BABA), Apollo Commercial Real Estate Finance (ARI), Cisco Systems (CSCO) and Gilead Sciences (GILD).

What is Freeport-McMoRan's stock symbol?

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

Who are Freeport-McMoRan's major shareholders?

Freeport-McMoRan's stock is owned by a variety of institutional and retail investors. Top institutional shareholders include FMR LLC (8.28%), Northern Trust Corp (1.22%), Clearbridge Investments LLC (0.82%), Citadel Advisors LLC (0.00%), TD Asset Management Inc. (0.38%) and Allspring Global Investments Holdings LLC (0.33%). Insiders that own company stock include C Donald Whitmire Jr, Dustan E Mccoy, Gerald J Ford, Gerald J Ford, Hugh Grant, John Joseph Stephens, Kathleen L Quirk, Richard C Adkerson and Sara Grootwassink Lewis.
View institutional ownership trends
.

How do I buy shares of Freeport-McMoRan?

Shares of FCX stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

What is Freeport-McMoRan's stock price today?

One share of FCX stock can currently be purchased for approximately $30.50.

How much money does Freeport-McMoRan make?

Freeport-McMoRan (NYSE:FCX) has a market capitalization of $44.20 billion and generates $22.85 billion in revenue each year. The natural resource company earns $4.31 billion in net income (profit) each year or $3.29 on an earnings per share basis.

How many employees does Freeport-McMoRan have?

The company employs 24,700 workers across the globe.

When was Freeport-McMoRan founded?

Freeport-McMoRan was founded in 1987.

How can I contact Freeport-McMoRan?

Freeport-McMoRan's mailing address is 333 NORTH CENTRAL AVENUE, PHOENIX AZ, 85004. The official website for the company is www.fcx.com. The natural resource company can be reached via phone at (602) 366-8100, via email at ir@fmi.com, or via fax at 504-582-1847.

This page (NYSE:FCX) was last updated on 8/15/2022 by MarketBeat.com Staff

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