Freeport-McMoRan (FCX) to Release Quarterly Earnings on Thursday

Freeport-McMoRan (NYSE:FCX) is expected to issue its quarterly earnings data 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 interested in listening to 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 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $6.45 billion. During the same period last year, the company posted $0.39 EPS. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. 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 Performance

Shares of FCX opened at $40.32 on Wednesday. Freeport-McMoRan has a one year low of $36.26 and a one year high of $55.24. The company has a 50-day simple moving average of $41.09 and a two-hundred day simple moving average of $44.12. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.33 and a quick ratio of 1.30. The firm has a market capitalization of $57.93 billion, a PE ratio of 29.43, a price-to-earnings-growth ratio of 2.21 and a beta of 1.87.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on FCX shares. Sanford C. Bernstein cut Freeport-McMoRan from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $51.00 to $46.00 in a research note on Tuesday, January 7th. Scotiabank lowered their price target on Freeport-McMoRan from $52.00 to $48.00 and set a “sector perform” rating for the company in a research report on Monday, January 6th. JPMorgan Chase & Co. cut their price objective on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Jefferies Financial Group decreased their target price on shares of Freeport-McMoRan from $60.00 to $48.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, StockNews.com cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Thursday, September 26th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $52.42.

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.