Freeport-McMoRan (FCX) Scheduled to Post Quarterly Earnings on Tuesday

Freeport-McMoRan (NYSE:FCX) will be releasing its earnings data before the market opens on Tuesday, April 23rd. Analysts expect Freeport-McMoRan to post earnings of $0.34 per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Wednesday, January 24th. The natural resource company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.04. The firm had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.85 billion. Freeport-McMoRan had a net margin of 8.09% and a return on equity of 8.41%. The company’s revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the company earned $0.52 earnings per share. On average, analysts expect Freeport-McMoRan to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Freeport-McMoRan Price Performance

FCX opened at $50.02 on Tuesday. The company has a market capitalization of $71.75 billion, a price-to-earnings ratio of 39.39, a PEG ratio of 2.24 and a beta of 2.04. The company has a quick ratio of 1.38, a current ratio of 2.42 and a debt-to-equity ratio of 0.32. The firm has a 50-day moving average price of $42.69 and a 200-day moving average price of $39.59. Freeport-McMoRan has a twelve month low of $32.83 and a twelve month high of $52.42.

Freeport-McMoRan Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $0.60 annualized dividend and a dividend yield of 1.20%. Freeport-McMoRan’s payout ratio is 23.62%.

Analyst Upgrades and Downgrades

FCX has been the subject of a number of analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $55.00 price objective on shares of Freeport-McMoRan in a research report on Thursday, January 25th. Raymond James raised their price objective on shares of Freeport-McMoRan from $42.00 to $43.00 and gave the company an “outperform” rating in a research report on Thursday, January 4th. Sanford C. Bernstein upgraded shares of Freeport-McMoRan from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $41.00 to $48.50 in a research report on Monday, January 8th. Scotiabank raised their price objective on shares of Freeport-McMoRan from $48.00 to $55.00 and gave the company a “sector outperform” rating in a research report on Tuesday, April 9th. Finally, Bank of America upgraded shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 price objective for the company in a research report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $46.71.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FCX. FinTrust Capital Advisors LLC increased its stake in shares of Freeport-McMoRan by 5.1% during the fourth quarter. FinTrust Capital Advisors LLC now owns 5,252 shares of the natural resource company’s stock valued at $200,000 after purchasing an additional 253 shares in the last quarter. West Michigan Advisors LLC increased its position in shares of Freeport-McMoRan by 4.0% during the fourth quarter. West Michigan Advisors LLC now owns 6,899 shares of the natural resource company’s stock valued at $294,000 after acquiring an additional 268 shares in the last quarter. Ancora Advisors LLC increased its position in shares of Freeport-McMoRan by 9.7% during the first quarter. Ancora Advisors LLC now owns 3,400 shares of the natural resource company’s stock valued at $139,000 after acquiring an additional 300 shares in the last quarter. Retirement Group LLC increased its position in shares of Freeport-McMoRan by 97.1% during the second quarter. Retirement Group LLC now owns 670 shares of the natural resource company’s stock valued at $27,000 after acquiring an additional 330 shares in the last quarter. Finally, Wagner Wealth Management LLC increased its position in shares of Freeport-McMoRan by 6.3% during the first quarter. Wagner Wealth Management LLC now owns 5,717 shares of the natural resource company’s stock valued at $234,000 after acquiring an additional 341 shares in the last quarter. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. It primarily explores for copper, gold, molybdenum, silver, and other metals. The company's assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Chino and Tyrone in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.