Freeport-McMoRan Inc. (NYSE:FCX) has earned an average recommendation of “Buy” from the twenty analysts that are currently covering the firm, Marketbeat.com reports. Seven analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $33.64.
Several research analysts have recently commented on the company. Zacks Investment Research upgraded Freeport-McMoRan from a “hold” rating to a “strong-buy” rating and set a $49.00 price target for the company in a research report on Tuesday, May 11th. BMO Capital Markets initiated coverage on Freeport-McMoRan in a report on Friday, April 23rd. They set a “buy” rating and a $45.00 target price for the company. UBS Group boosted their price target on shares of Freeport-McMoRan from $30.00 to $36.00 and gave the stock a “neutral” rating in a research note on Monday, April 26th. Raymond James raised their price objective on shares of Freeport-McMoRan from $43.00 to $47.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Morgan Stanley reaffirmed an “equal weight” rating on shares of Freeport-McMoRan in a research note on Tuesday, March 30th.
In related news, VP C Donald Whitmire, Jr. sold 42,500 shares of the company’s stock in a transaction dated Wednesday, May 5th. The stock was sold at an average price of $41.35, for a total value of $1,757,375.00. Following the completion of the sale, the vice president now directly owns 82,837 shares of the company’s stock, valued at approximately $3,425,309.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Gerald J. Ford sold 3,422 shares of Freeport-McMoRan stock in a transaction that occurred on Monday, April 26th. The stock was sold at an average price of $38.82, for a total value of $132,842.04. Following the transaction, the director now directly owns 18,200 shares in the company, valued at approximately $706,524. The disclosure for this sale can be found here. Insiders have sold a total of 84,922 shares of company stock worth $3,535,419 over the last quarter. 1.00% of the stock is owned by company insiders.
Shares of FCX opened at $40.14 on Tuesday. The firm has a 50-day moving average of $39.53. Freeport-McMoRan has a 12-month low of $9.78 and a 12-month high of $46.10. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.46 and a current ratio of 2.35. The stock has a market cap of $58.83 billion, a price-to-earnings ratio of 33.17, a P/E/G ratio of 0.46 and a beta of 2.15.
Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results on Thursday, April 22nd. The natural resource company reported $0.51 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.51. The business had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.74 billion. Freeport-McMoRan had a net margin of 11.13% and a return on equity of 9.85%. The business’s revenue was up 73.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.18) EPS. As a group, research analysts anticipate that Freeport-McMoRan will post 3.11 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, May 3rd. Stockholders of record on Thursday, April 15th were issued a $0.075 dividend. This is a boost from Freeport-McMoRan’s previous quarterly dividend of $0.05. The ex-dividend date was Wednesday, April 14th. This represents a $0.30 annualized dividend and a dividend yield of 0.75%. Freeport-McMoRan’s dividend payout ratio is presently 55.56%.
Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. The company primarily explores for copper, gold, molybdenum, silver, and other metals, as well as oil and gas. Its assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.
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