Freeport-McMoran, Inc. (FCX) Posts Earnings Results, Misses Estimates By $0.04 EPS
Freeport-McMoran, Inc. (NYSE:FCX) posted its quarterly earnings data on Tuesday. The natural resource company reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by $0.04, RTT News reports. Freeport-McMoran had a net margin of 1.11% and a return on equity of 7.97%. The company had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same quarter in the prior year, the business earned ($0.02) EPS. Freeport-McMoran’s revenue was up 11.3% compared to the same quarter last year.
Shares of Freeport-McMoran (FCX) opened at 12.96 on Tuesday. Freeport-McMoran has a 52 week low of $9.24 and a 52 week high of $17.06. The firm’s 50 day moving average is $12.13 and its 200-day moving average is $13.15. The firm has a market cap of $18.75 billion, a price-to-earnings ratio of 69.30 and a beta of 2.55.
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A number of brokerages recently weighed in on FCX. Jefferies Group LLC raised their target price on shares of Freeport-McMoran to $16.00 and gave the stock a “buy” rating in a report on Tuesday, March 28th. FBR & Co restated a “market perform” rating and set a $13.00 target price on shares of Freeport-McMoran in a report on Tuesday, March 28th. Vetr cut shares of Freeport-McMoran from a “strong-buy” rating to a “buy” rating and set a $14.64 target price for the company. in a report on Monday, April 10th. Cowen and Company restated a “buy” rating on shares of Freeport-McMoran in a report on Tuesday, April 11th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $17.00 target price on shares of Freeport-McMoran in a report on Wednesday, April 19th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $13.77.
Freeport-McMoRan Inc (FCX) is a mining company. The Company operates through geographical assets with proven and probable reserves of copper, gold and molybdenum, and traded copper producer. The Company’s segments include refined copper products, copper in concentrate, gold, molybdenum, oil and other.
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