Wall Street analysts expect Freeport-McMoRan Inc (NYSE:FCX) to report earnings of $0.08 per share for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Freeport-McMoRan’s earnings, with estimates ranging from $0.06 to $0.12. Freeport-McMoRan reported earnings per share of $0.35 in the same quarter last year, which suggests a negative year over year growth rate of 77.1%. The company is expected to announce its next quarterly earnings results on Wednesday, October 23rd.

According to Zacks, analysts expect that Freeport-McMoRan will report full year earnings of $0.17 per share for the current fiscal year, with EPS estimates ranging from $0.04 to $0.26. For the next fiscal year, analysts anticipate that the business will post earnings of $0.52 per share, with EPS estimates ranging from $0.15 to $0.85. Zacks’ EPS averages are an average based on a survey of research analysts that cover Freeport-McMoRan.

Freeport-McMoRan (NYSE:FCX) last released its earnings results on Wednesday, July 24th. The natural resource company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.01. Freeport-McMoRan had a return on equity of 4.08% and a net margin of 4.11%. The firm had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same period in the prior year, the company earned $0.59 earnings per share. The company’s quarterly revenue was down 31.4% on a year-over-year basis.

Several research firms have weighed in on FCX. BMO Capital Markets set a $14.00 target price on Freeport-McMoRan and gave the stock a “hold” rating in a research note on Friday, April 26th. ValuEngine cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Saturday. UBS Group set a $13.00 price target on Freeport-McMoRan and gave the company a “hold” rating in a research note on Wednesday, June 26th. Raymond James reiterated a “market perform” rating and issued a $13.00 price target on shares of Freeport-McMoRan in a research note on Thursday, July 25th. Finally, Royal Bank of Canada upgraded Freeport-McMoRan from an “underperform” rating to a “sector perform” rating and increased their price target for the company from $12.00 to $14.00 in a research note on Wednesday, July 24th. Eleven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $13.88.

In related news, COO Harry M. Iv Conger sold 155,000 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $10.51, for a total transaction of $1,629,050.00. Following the completion of the transaction, the chief operating officer now directly owns 416,382 shares of the company’s stock, valued at approximately $4,376,174.82. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Richard C. Adkerson bought 172,000 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were bought at an average cost of $10.14 per share, with a total value of $1,744,080.00. The disclosure for this purchase can be found here. 0.98% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the stock. TCG Advisors LP bought a new position in Freeport-McMoRan during the 1st quarter worth $33,000. Rational Advisors LLC raised its position in Freeport-McMoRan by 107.0% during the 2nd quarter. Rational Advisors LLC now owns 3,261 shares of the natural resource company’s stock worth $38,000 after purchasing an additional 1,686 shares during the last quarter. Truvestments Capital LLC bought a new position in Freeport-McMoRan during the 1st quarter worth $43,000. WP Advisors LLC bought a new position in Freeport-McMoRan during the 1st quarter worth $46,000. Finally, Private Capital Group LLC raised its position in Freeport-McMoRan by 99.3% during the 1st quarter. Private Capital Group LLC now owns 3,650 shares of the natural resource company’s stock worth $47,000 after purchasing an additional 1,819 shares during the last quarter. 72.04% of the stock is owned by institutional investors and hedge funds.

NYSE FCX traded up $0.40 on Thursday, hitting $9.92. 23,585,675 shares of the company’s stock were exchanged, compared to its average volume of 19,490,448. The business has a 50-day moving average price of $11.03. The company has a current ratio of 2.66, a quick ratio of 1.32 and a debt-to-equity ratio of 0.56. Freeport-McMoRan has a 52 week low of $9.45 and a 52 week high of $15.26. The company has a market cap of $14.38 billion, a PE ratio of 6.53 and a beta of 2.34.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Monday, July 15th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend was Friday, July 12th. Freeport-McMoRan’s dividend payout ratio is currently 13.16%.

Freeport-McMoRan Company Profile

Freeport-McMoRan, Inc engages in the mining of copper, gold, and molybdenum. It operates through the following segments: North America Copper Mines; South America Mining; Indonesia Mining; Molybdenum Mines; Rod and Refining; Atlantic Copper Smelting and Refining; and Corporate, Other, and Eliminations.

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

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