Freeport-McMoRan (FCX) Scheduled to Post Earnings on Tuesday

Freeport-McMoRan (NYSE:FCXGet Free Report) will issue its quarterly earnings data before the market opens on Tuesday, April 23rd. Analysts expect the company to announce earnings of $0.34 per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Freeport-McMoRan (NYSE:FCXGet Free Report) last issued its earnings results on Wednesday, January 24th. The natural resource company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.04. The company had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.85 billion. Freeport-McMoRan had a net margin of 8.09% and a return on equity of 8.41%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period last year, the company posted $0.52 earnings per share. On average, analysts expect Freeport-McMoRan to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Freeport-McMoRan Price Performance

Shares of NYSE:FCX opened at $49.61 on Monday. The firm has a market capitalization of $71.16 billion, a price-to-earnings ratio of 39.06, a price-to-earnings-growth ratio of 2.28 and a beta of 2.04. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.42 and a quick ratio of 1.38. The business’s 50 day simple moving average is $43.57 and its 200-day simple moving average is $39.96. Freeport-McMoRan has a 12 month low of $32.83 and a 12 month high of $52.42.

Freeport-McMoRan Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $0.60 dividend on an annualized basis and a yield of 1.21%. Freeport-McMoRan’s payout ratio is 23.62%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FCX. Bank of America raised Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 price target for the company in a research note on Tuesday, April 9th. Sanford C. Bernstein upgraded shares of Freeport-McMoRan from a “market perform” rating to an “outperform” rating and increased their price target for the company from $41.00 to $48.50 in a research report on Monday, January 8th. Raymond James upped their target price on Freeport-McMoRan from $42.00 to $43.00 and gave the company an “outperform” rating in a research note on Thursday, January 4th. Scotiabank raised their price target on Freeport-McMoRan from $48.00 to $55.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. upped their price objective on Freeport-McMoRan from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday, April 17th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.23.

Check Out Our Latest Analysis on FCX

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of FCX. KB Financial Partners LLC purchased a new stake in shares of Freeport-McMoRan during the 1st quarter valued at about $26,000. Fairfield Bush & CO. purchased a new position in shares of Freeport-McMoRan in the first quarter valued at $26,000. Retirement Group LLC boosted its stake in shares of Freeport-McMoRan by 97.1% in the second quarter. Retirement Group LLC now owns 670 shares of the natural resource company’s stock valued at $27,000 after purchasing an additional 330 shares during the period. ICA Group Wealth Management LLC acquired a new stake in Freeport-McMoRan during the 4th quarter valued at $28,000. Finally, Quarry LP acquired a new position in Freeport-McMoRan in the 1st quarter worth $40,000. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Company Profile

(Get Free Report)

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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Earnings History for Freeport-McMoRan (NYSE:FCX)

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