Freeport-McMoRan Copper & Gold (FCX) Announces Quarterly Earnings Results, Beats Estimates By $0.17 EPS
Freeport-McMoRan Copper & Gold (NYSE:FCX) released its earnings data on Tuesday. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.17, Analyst Ratings Net reports. The company had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $5.68 billion. During the same quarter in the previous year, the company posted $0.86 earnings per share. The company’s revenue for the quarter was up 39.6% on a year-over-year basis.
Shares of Freeport-McMoRan Copper & Gold (NYSE:FCX) opened at 35.04 on Tuesday. Freeport-McMoRan Copper & Gold has a one year low of $26.37 and a one year high of $40.84. The stock has a 50-day moving average of $33.26 and a 200-day moving average of $30.84. The company has a market cap of $36.367 billion and a price-to-earnings ratio of 12.48. Freeport-McMoRan Copper & Gold also was the recipient of some unusual options trading activity on Monday. Traders purchased 19,803 put options on the company. This is an increase of approximately 103% compared to the average daily volume of 9,756 put options.
The company also recently declared a quarterly dividend, which is scheduled for Friday, November 1st. Shareholders of record on Tuesday, October 15th will be given a dividend of $0.31 per share. This represents a $1.25 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date of this dividend is Thursday, October 10th.
Several analysts have recently commented on the stock. Analysts at RBC Capital raised their price target on shares of Freeport-McMoRan Copper & Gold from $35.00 to $36.00 in a research note to investors on Friday. They now have a “sector perform” rating on the stock. On the ratings front, analysts at Credit Suisse reiterated a “buy” rating on shares of Freeport-McMoRan Copper & Gold in a research note to investors on Thursday, October 17th. They now have a $39.00 price target on the stock. Finally, analysts at BB&T Corp. raised their price target on shares of Freeport-McMoRan Copper & Gold from $36.00 to $38.00 in a research note to investors on Thursday, October 17th. They now have a “buy” rating on the stock. Five research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Freeport-McMoRan Copper & Gold has an average rating of “Buy” and a consensus target price of $37.08.
Freeport-McMoRan Copper & Gold Inc (NYSE:FCX) is an international mining company.
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