Freeport-McMoRan Inc (NYSE:FCX) announced a quarterly dividend on Wednesday, September 25th, RTT News reports. Stockholders of record on Tuesday, October 15th will be paid a dividend of 0.05 per share by the natural resource company on Friday, November 1st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Friday, October 11th.
Freeport-McMoRan has decreased its dividend payment by an average of 31.3% annually over the last three years. Freeport-McMoRan has a payout ratio of 10.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Freeport-McMoRan to earn $0.47 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 42.6%.
Shares of FCX stock opened at $8.51 on Wednesday. Freeport-McMoRan has a 1 year low of $8.48 and a 1 year high of $14.68. The firm has a fifty day moving average price of $9.54 and a 200-day moving average price of $10.95. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.66 and a quick ratio of 1.32. The company has a market cap of $12.81 billion, a price-to-earnings ratio of 5.60 and a beta of 2.40.
Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings data on Wednesday, July 24th. The natural resource company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. Freeport-McMoRan had a net margin of 4.11% and a return on equity of 4.08%. The firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.54 billion. During the same quarter in the previous year, the firm posted $0.59 EPS. The company’s revenue for the quarter was down 31.4% compared to the same quarter last year. Equities research analysts expect that Freeport-McMoRan will post 0.11 EPS for the current year.
FCX has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Freeport-McMoRan from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. ValuEngine upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. Exane BNP Paribas initiated coverage on shares of Freeport-McMoRan in a research note on Friday, September 20th. They set an “outperform” rating on the stock. Clarkson Capital restated a “neutral” rating on shares of Freeport-McMoRan in a research note on Monday, September 23rd. Finally, BNP Paribas initiated coverage on shares of Freeport-McMoRan in a research note on Friday, September 20th. They set an “outperform” rating on the stock. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Freeport-McMoRan has an average rating of “Hold” and an average target price of $13.54.
Freeport-McMoRan, Inc engages in the mining of copper, gold, and molybdenum. It operates through the following segments: North America Copper Mines; South America Mining; Indonesia Mining; Molybdenum Mines; Rod and Refining; Atlantic Copper Smelting and Refining; and Corporate, Other, and Eliminations.
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