B. Riley Analysts Lift Earnings Estimates for Freeport-McMoran, Inc. (FCX)
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.
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.
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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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