Equities Analysts Set Expectations for FCX FY2025 Earnings

Freeport-McMoRan Inc. (NYSE:FCX) – Scotiabank decreased their FY2025 earnings estimates for shares of Freeport-McMoRan in a report issued on Wednesday, January 8th. Scotiabank analyst O. Wowkodaw now forecasts that the natural resource company will earn $1.21 per share for the year, down from their prior estimate of $1.34. Scotiabank currently has a “Sector Perform” rating and a $48.00 price objective on the stock. The consensus estimate for Freeport-McMoRan’s current full-year earnings is $1.49 per share.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Tuesday, October 22nd. The natural resource company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.37 by $0.01. The firm had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.45 billion. Freeport-McMoRan had a return on equity of 7.40% and a net margin of 7.81%. Freeport-McMoRan’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.39 earnings per share.

FCX has been the subject of a number of other reports. JPMorgan Chase & Co. upped their price target on Freeport-McMoRan from $53.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, October 15th. Morgan Stanley lowered their target price on shares of Freeport-McMoRan from $60.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday, September 19th. StockNews.com cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. Raymond James raised their price objective on Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, Sanford C. Bernstein downgraded Freeport-McMoRan from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $51.00 to $46.00 in a report on Tuesday. 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $52.96.

Freeport-McMoRan Trading Up 2.7 %

FCX opened at $39.77 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.30 and a current ratio of 2.33. Freeport-McMoRan has a one year low of $36.26 and a one year high of $55.24. The company has a market cap of $57.15 billion, a P/E ratio of 29.03, a PEG ratio of 2.90 and a beta of 1.86. The business’s 50-day simple moving average is $42.20 and its 200-day simple moving average is $44.77.

Institutional Investors Weigh In On Freeport-McMoRan

A number of hedge funds have recently added to or reduced their stakes in FCX. Michael S. Ryan Inc. increased its holdings in shares of Freeport-McMoRan by 22.8% in the 4th quarter. Michael S. Ryan Inc. now owns 8,022 shares of the natural resource company’s stock valued at $305,000 after purchasing an additional 1,487 shares in the last quarter. First Hawaiian Bank increased its position in shares of Freeport-McMoRan by 37.3% in the fourth quarter. First Hawaiian Bank now owns 28,750 shares of the natural resource company’s stock valued at $1,095,000 after buying an additional 7,808 shares in the last quarter. Douglas Lane & Associates LLC raised its stake in shares of Freeport-McMoRan by 4.4% during the 4th quarter. Douglas Lane & Associates LLC now owns 1,548,963 shares of the natural resource company’s stock worth $58,985,000 after buying an additional 64,906 shares during the last quarter. Oliver Luxxe Assets LLC grew its stake in Freeport-McMoRan by 1.8% in the 4th quarter. Oliver Luxxe Assets LLC now owns 142,486 shares of the natural resource company’s stock valued at $5,426,000 after acquiring an additional 2,548 shares during the last quarter. Finally, Neville Rodie & Shaw Inc. increased its holdings in Freeport-McMoRan by 23.2% during the 4th quarter. Neville Rodie & Shaw Inc. now owns 15,951 shares of the natural resource company’s stock valued at $607,000 after acquiring an additional 3,000 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Wednesday, January 15th will be paid a $0.15 dividend. This is a boost from Freeport-McMoRan’s previous quarterly dividend of $0.08. This represents a $0.60 annualized dividend and a yield of 1.51%. The ex-dividend date is Wednesday, January 15th. Freeport-McMoRan’s payout ratio is currently 21.90%.

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.