Freeport-McMoran, Inc. (FCX) Set to Announce Earnings on Monday
Freeport-McMoran, Inc. (NYSE:FCX) is scheduled to be releasing its earnings data before the market opens on Monday, October 23rd. Analysts expect Freeport-McMoran to post earnings of $0.28 per share for the quarter.
Freeport-McMoran (NYSE:FCX) last posted its quarterly earnings data on Tuesday, July 25th. The natural resource company reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.04). Freeport-McMoran had a return on equity of 10.45% and a net margin of 5.97%. The firm had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.67 billion. During the same quarter last year, the firm posted ($0.02) earnings per share. Freeport-McMoran’s quarterly revenue was up 11.3% on a year-over-year basis. On average, analysts expect Freeport-McMoran to post $0.95 EPS for the current fiscal year and $1.44 EPS for the next fiscal year.
Shares of Freeport-McMoran, Inc. (NYSE:FCX) opened at 14.75 on Monday. Freeport-McMoran, Inc. has a 1-year low of $9.50 and a 1-year high of $17.06. The stock has a market capitalization of $21.35 billion, a price-to-earnings ratio of 20.80 and a beta of 2.54. The firm’s 50-day moving average price is $14.44 and its 200 day moving average price is $13.20.
Several research analysts recently issued reports on the company. Zacks Investment Research downgraded Freeport-McMoran from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Jefferies Group LLC restated a “buy” rating and set a $18.00 price objective on shares of Freeport-McMoran in a research report on Thursday, July 27th. Deutsche Bank AG restated a “hold” rating and set a $13.00 price objective (down from $14.00) on shares of Freeport-McMoran in a research report on Sunday, June 25th. Macquarie assumed coverage on Freeport-McMoran in a research report on Thursday, September 7th. They set a “neutral” rating and a $16.00 price objective for the company. Finally, BidaskClub upgraded Freeport-McMoran from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 27th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $15.36.
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In related news, COO Harry M. Iv Conger acquired 36,180 shares of the stock in a transaction dated Thursday, September 7th. The stock was bought at an average cost of $15.23 per share, with a total value of $551,021.40. Following the purchase, the chief operating officer now directly owns 73,943 shares of the company’s stock, valued at $1,126,151.89. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.29% of the stock is owned by insiders.
Freeport-McMoran Company Profile
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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