Freeport-McMoran, Inc. (NYSE:FCX) issued its earnings results on Tuesday, July 25th. The natural resource company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.21 by $0.04, RTT News reports. The business had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.67 billion. Freeport-McMoran had a net margin of 5.97% and a return on equity of 10.45%. The business’s revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.02) EPS.
Freeport-McMoran (FCX) traded down 0.35% during trading on Friday, hitting $14.15. 15,434,337 shares of the stock were exchanged. Freeport-McMoran has a 52 week low of $9.24 and a 52 week high of $17.06. The firm’s 50-day moving average is $13.58 and its 200 day moving average is $13.04. The firm has a market cap of $20.48 billion, a PE ratio of 19.96 and a beta of 2.59. Freeport-McMoran also was the target of unusually large options trading activity on Wednesday. Stock investors purchased 48,064 call options on the company. This is an increase of 145% compared to the average daily volume of 19,644 call options.
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Several analysts have commented on FCX shares. Vetr upgraded shares of Freeport-McMoran from a “buy” rating to a “strong-buy” rating and set a $14.36 target price for the company in a research report on Monday, May 1st. Zacks Investment Research cut shares of Freeport-McMoran from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Berenberg Bank cut shares of Freeport-McMoran from a “hold” rating to a “sell” rating and set a $10.00 price objective for the company. in a research report on Wednesday, July 12th. Deutsche Bank AG restated a “hold” rating and issued a $13.00 price objective (down previously from $14.00) on shares of Freeport-McMoran in a research report on Sunday, June 25th. Finally, BMO Capital Markets set a $17.00 price objective on shares of Freeport-McMoran and gave the company a “hold” rating in a research report on Wednesday, July 26th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Freeport-McMoran currently has a consensus rating of “Hold” and a consensus target price of $14.32.
Freeport-McMoran Company Profile
Freeport-McMoRan Inc (FCX) is a mining company. The Company operates through geographical assets with proven and probable reserves of copper, gold and molybdenum, and traded copper producer. The Company’s segments include refined copper products, copper in concentrate, gold, molybdenum, oil and other.
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