Raymond James Cuts Earnings Estimates for Freeport-McMoRan

Freeport-McMoRan Inc. (NYSE:FCX) – Research analysts at Raymond James dropped their Q1 2025 earnings estimates for Freeport-McMoRan in a report issued on Tuesday, April 1st. Raymond James analyst B. Macarthur now expects that the natural resource company will post earnings per share of $0.20 for the quarter, down from their prior forecast of $0.26. The consensus estimate for Freeport-McMoRan’s current full-year earnings is $1.68 per share. Raymond James also issued estimates for Freeport-McMoRan’s FY2025 earnings at $1.59 EPS.

FCX has been the subject of several other research reports. JPMorgan Chase & Co. raised shares of Freeport-McMoRan from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $48.00 to $52.00 in a report on Thursday, March 20th. Jefferies Financial Group upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and increased their price target for the stock from $40.00 to $48.00 in a research report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research report on Thursday, March 6th. Dbs Bank upgraded Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. Finally, Scotiabank cut their price target on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a report on Friday, January 24th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Freeport-McMoRan presently has an average rating of “Moderate Buy” and a consensus price target of $52.04.

Freeport-McMoRan Stock Up 0.1 %

FCX opened at $38.17 on Thursday. Freeport-McMoRan has a twelve month low of $33.98 and a twelve month high of $55.24. The firm has a market cap of $54.85 billion, a price-to-earnings ratio of 29.59, a PEG ratio of 0.87 and a beta of 1.87. The firm’s 50-day simple moving average is $38.03 and its 200-day simple moving average is $41.89. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%.

Institutional Investors Weigh In On Freeport-McMoRan

A number of institutional investors have recently made changes to their positions in FCX. Asset Planning Inc bought a new position in Freeport-McMoRan during the fourth quarter worth about $25,000. Mizuho Bank Ltd. bought a new position in Freeport-McMoRan during the 4th quarter worth approximately $26,000. Vision Financial Markets LLC acquired a new position in Freeport-McMoRan during the fourth quarter valued at approximately $27,000. Laurel Wealth Advisors LLC increased its stake in Freeport-McMoRan by 487.8% in the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after purchasing an additional 600 shares in the last quarter. Finally, Roxbury Financial LLC acquired a new stake in Freeport-McMoRan in the fourth quarter worth $28,000. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Tuesday, April 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 23.26%.

About Freeport-McMoRan

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.