Freeport-McMoran, Inc. (NYSE:FCX) – Equities research analysts at B. Riley boosted their FY2017 EPS estimates for shares of Freeport-McMoran in a research note issued to investors on Monday. B. Riley analyst L. Pipes now forecasts that the natural resource company will earn $1.08 per share for the year, up from their prior estimate of $1.06. B. Riley currently has a “Neutral” rating and a $16.00 target price on the stock. B. Riley also issued estimates for Freeport-McMoran’s Q4 2017 earnings at $0.44 EPS, Q3 2018 earnings at $0.40 EPS, Q4 2018 earnings at $0.40 EPS, FY2018 earnings at $1.56 EPS and FY2019 earnings at $0.94 EPS.

Freeport-McMoran (NYSE:FCX) last released its quarterly earnings results on Wednesday, October 25th. The natural resource company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.31 by $0.03. The business had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.06 billion. Freeport-McMoran had a return on equity of 13.35% and a net margin of 6.20%. The company’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period last year, the business posted $0.13 earnings per share.

FCX has been the topic of a number of other research reports. Zacks Investment Research upgraded Freeport-McMoran from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Tuesday, October 10th. ValuEngine raised Freeport-McMoran from a “hold” rating to a “buy” rating in a report on Thursday, October 26th. FBR & Co reaffirmed a “hold” rating and issued a $12.00 price objective on shares of Freeport-McMoran in a report on Thursday, October 26th. Raymond James Financial began coverage on Freeport-McMoran in a report on Tuesday, August 15th. They issued a “market perform” rating and a $15.00 price objective on the stock. Finally, Jefferies Group reissued a “buy” rating and set a $19.00 price target (down previously from $23.00) on shares of Freeport-McMoran in a research note on Wednesday, October 4th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $15.64.

Shares of Freeport-McMoran (FCX) opened at $15.02 on Tuesday. Freeport-McMoran has a 52 week low of $11.05 and a 52 week high of $17.06. The company has a quick ratio of 1.32, a current ratio of 2.02 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $21,684.75, a price-to-earnings ratio of 16.46 and a beta of 2.56.

A number of large investors have recently bought and sold shares of the stock. Shell Asset Management Co. boosted its position in shares of Freeport-McMoran by 97.9% during the 3rd quarter. Shell Asset Management Co. now owns 160,362 shares of the natural resource company’s stock valued at $5,236,000 after acquiring an additional 79,343 shares in the last quarter. Hosking Partners LLP lifted its holdings in Freeport-McMoran by 68.7% during the 2nd quarter. Hosking Partners LLP now owns 809,467 shares of the natural resource company’s stock valued at $9,722,000 after purchasing an additional 329,770 shares during the last quarter. AXA bought a new position in shares of Freeport-McMoran in the second quarter worth about $15,414,000. Caxton Associates LP bought a new position in shares of Freeport-McMoran in the second quarter worth about $7,206,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Freeport-McMoran by 6.8% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 166,437 shares of the natural resource company’s stock worth $1,999,000 after acquiring an additional 10,574 shares during the last quarter. Institutional investors and hedge funds own 68.12% of the company’s stock.

WARNING: This news story was published by American Banking News and is the sole property of of American Banking News. If you are reading this news story on another site, it was stolen and republished in violation of US and international trademark and copyright law. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2017/12/12/b-riley-analysts-lift-earnings-estimates-for-freeport-mcmoran-inc-fcx.html.

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.

Earnings History and Estimates for Freeport-McMoran (NYSE:FCX)

Receive News & Ratings for Freeport-McMoran Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Freeport-McMoran Inc. and related companies with MarketBeat.com's FREE daily email newsletter.