Freeport-McMoRan (FCX) to Release Quarterly Earnings on Tuesday

Freeport-McMoRan (NYSE:FCX) is scheduled to announce its earnings results before the market opens on Tuesday, July 23rd. Analysts expect the company to announce earnings of $0.44 per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

Freeport-McMoRan (NYSE:FCX) last released its earnings results on Tuesday, April 23rd. The natural resource company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.05. Freeport-McMoRan had a return on equity of 7.17% and a net margin of 6.97%. The business had revenue of $6.32 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same period last year, the company earned $0.52 earnings per share. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. 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 Stock Down 0.0 %

NYSE:FCX opened at $45.90 on Monday. Freeport-McMoRan has a twelve month low of $32.83 and a twelve month high of $55.24. The company has a market cap of $65.93 billion, a price-to-earnings ratio of 40.62, a price-to-earnings-growth ratio of 1.07 and a beta of 1.92. The stock has a fifty day simple moving average of $50.49 and a 200-day simple moving average of $45.97. The company has a current ratio of 2.35, a quick ratio of 1.41 and a debt-to-equity ratio of 0.31.

Freeport-McMoRan Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Monday, July 15th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $0.60 annualized dividend and a dividend yield of 1.31%. Freeport-McMoRan’s dividend payout ratio (DPR) is 26.55%.

Analysts Set New Price Targets

Several research firms have recently weighed in on FCX. Bernstein Bank lifted their target price on Freeport-McMoRan from $52.00 to $52.50 and gave the stock an “overweight” rating in a research report on Tuesday, April 23rd. Raymond James raised their price target on Freeport-McMoRan from $49.50 to $54.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. JPMorgan Chase & Co. cut their price target on Freeport-McMoRan from $52.00 to $51.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. BNP Paribas upgraded Freeport-McMoRan to a “strong-buy” rating in a research note on Friday, June 21st. Finally, Scotiabank raised their price target on Freeport-McMoRan from $53.00 to $60.00 and gave the company a “sector outperform” rating in a research note on Thursday, May 30th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Freeport-McMoRan presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.93.

Insiders Place Their Bets

In other Freeport-McMoRan news, VP Douglas N. Currault II sold 55,000 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $51.99, for a total value of $2,859,450.00. Following the completion of the sale, the vice president now owns 164,067 shares of the company’s stock, valued at $8,529,843.33. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Freeport-McMoRan news, CAO Stephen T. Higgins sold 43,900 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $51.08, for a total value of $2,242,412.00. Following the completion of the transaction, the chief accounting officer now directly owns 104,377 shares of the company’s stock, valued at $5,331,577.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Douglas N. Currault II sold 55,000 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $51.99, for a total value of $2,859,450.00. Following the completion of the transaction, the vice president now directly owns 164,067 shares of the company’s stock, valued at $8,529,843.33. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 445,667 shares of company stock valued at $22,755,070. 0.79% of the stock is currently owned by corporate insiders.

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.