Freeport-McMoRan (NYSE:FCX – Get Free Report) posted its quarterly earnings results on Tuesday. The natural resource company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.01, Briefing.com reports. The company had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.45 billion. Freeport-McMoRan had a net margin of 7.83% and a return on equity of 7.60%. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period last year, the company posted $0.39 EPS.
Freeport-McMoRan Stock Up 0.6 %
Shares of NYSE FCX traded up $0.29 during mid-day trading on Tuesday, reaching $48.23. 1,353,106 shares of the company’s stock traded hands, compared to its average volume of 13,050,961. The stock has a market cap of $69.28 billion, a P/E ratio of 42.68, a PEG ratio of 2.03 and a beta of 1.90. The business has a 50-day simple moving average of $45.48 and a 200 day simple moving average of $47.87. Freeport-McMoRan has a 1-year low of $32.83 and a 1-year high of $55.24. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.40 and a quick ratio of 1.34.
Freeport-McMoRan Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend is Tuesday, October 15th. Freeport-McMoRan’s dividend payout ratio is currently 26.55%.
Wall Street Analysts Forecast Growth
View Our Latest Analysis on FCX
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.
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