Freeport-McMoRan (FCX) Expected to Announce Quarterly Earnings on Thursday

Freeport-McMoRan (NYSE:FCX) is expected to announce its earnings results 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.

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 return on equity of 7.40% and a net margin of 7.81%. The firm had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.45 billion. During the same period last year, the company earned $0.39 earnings per share. Freeport-McMoRan’s revenue for the quarter 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 Trading Up 1.4 %

Shares of NYSE:FCX opened at $40.04 on Thursday. The company has a current ratio of 2.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.31. Freeport-McMoRan has a 12-month low of $36.26 and a 12-month high of $55.24. The business has a 50 day moving average of $41.67 and a two-hundred day moving average of $44.46. The company has a market capitalization of $57.53 billion, a PE ratio of 29.23, a PEG ratio of 2.90 and a beta of 1.87.

Freeport-McMoRan Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Wednesday, January 15th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend is Wednesday, January 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 43.80%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FCX. Sanford C. Bernstein lowered shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $51.00 to $46.00 in a research note on Tuesday, January 7th. Raymond James increased their price target on Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Morgan Stanley reduced their target price on Freeport-McMoRan from $60.00 to $58.00 and set an “overweight” rating for the company in a research note on Thursday, September 19th. StockNews.com cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. Finally, Scotiabank reduced their price objective on shares of 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. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $52.96.

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.