Scotiabank Has Bearish Estimate for FCX FY2025 Earnings

Freeport-McMoRan Inc. (NYSE:FCX) – Scotiabank reduced their FY2025 earnings estimates for shares of Freeport-McMoRan in a note issued to investors on Wednesday, March 19th. Scotiabank analyst O. Wowkodaw now forecasts that the natural resource company will earn $1.12 per share for the year, down from their prior forecast of $1.21. Scotiabank currently has a “Sector Perform” rating and a $45.00 target price on the stock. The consensus estimate for Freeport-McMoRan’s current full-year earnings is $1.68 per share.

A number of other research firms have also weighed in on FCX. Argus lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. JPMorgan Chase & Co. upgraded shares of Freeport-McMoRan from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $48.00 to $52.00 in a report on Thursday. Sanford C. Bernstein lowered shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $51.00 to $46.00 in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research note on Thursday, March 6th. Finally, StockNews.com lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Thursday. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $52.04.

Freeport-McMoRan Trading Down 1.0 %

FCX opened at $40.31 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. Freeport-McMoRan has a fifty-two week low of $33.98 and a fifty-two week high of $55.24. The firm has a market capitalization of $57.93 billion, a PE ratio of 31.25, a P/E/G ratio of 0.87 and a beta of 1.87. The company’s 50-day moving average is $38.03 and its 200 day moving average is $41.97.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. 111 Capital bought a new position in Freeport-McMoRan in the 4th quarter worth approximately $503,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Freeport-McMoRan by 14.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 180,623 shares of the natural resource company’s stock worth $6,878,000 after buying an additional 22,206 shares during the period. NorthCrest Asset Manangement LLC boosted its holdings in Freeport-McMoRan by 3.0% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 444,942 shares of the natural resource company’s stock worth $16,943,000 after buying an additional 12,816 shares during the period. Lansforsakringar Fondforvaltning AB publ bought a new position in Freeport-McMoRan in the 4th quarter worth approximately $17,815,000. Finally, PKO Investment Management Joint Stock Co bought a new position in Freeport-McMoRan in the 4th quarter worth approximately $1,908,000. 80.77% of the stock is owned by institutional investors.

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.