Freeport-McMoRan (FCX) Projected to Post Quarterly Earnings on Thursday

Freeport-McMoRan (NYSE:FCX) will likely be announcing its earnings results before the market opens on Thursday, January 23rd. Analysts expect the company to announce earnings of $0.36 per share and revenue of $6,288,570.00 billion for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Tuesday, October 22nd. The natural resource company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. Freeport-McMoRan had a net margin of 7.81% and a return on equity of 7.40%. The firm had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.45 billion. During the same period in the previous year, the firm posted $0.39 EPS. The business’s quarterly revenue was up 16.6% on a year-over-year basis. On average, analysts expect Freeport-McMoRan to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Freeport-McMoRan Stock Up 0.2 %

Shares of NYSE:FCX opened at $40.32 on Wednesday. The company has a market cap of $57.93 billion, a price-to-earnings ratio of 29.43, a PEG ratio of 2.21 and a beta of 1.87. Freeport-McMoRan has a 12 month low of $36.26 and a 12 month high of $55.24. The company has a current ratio of 2.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average price of $41.09 and a 200 day moving average price of $44.12.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on FCX shares. Raymond James lifted their target price on Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Jefferies Financial Group dropped their price objective on shares of Freeport-McMoRan from $60.00 to $48.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Sanford C. Bernstein cut shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $51.00 to $46.00 in a research report on Tuesday, January 7th. JPMorgan Chase & Co. lowered their target price on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Scotiabank cut their price target on shares of Freeport-McMoRan from $52.00 to $48.00 and set a “sector perform” rating on the stock in a report on Monday, January 6th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $52.42.

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.