Freeport-McMoran, Inc. (NYSE:FCX) announced its quarterly earnings results on Tuesday. The natural resource company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by $0.03, RTT News reports. The company had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.67 billion. Freeport-McMoran had a net margin of 1.11% and a return on equity of 7.97%. The business’s revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.02) EPS.
Shares of Freeport-McMoran (FCX) traded up 13.19% during trading on Tuesday, reaching $14.67. 31,412,095 shares of the company’s stock traded hands. Freeport-McMoran has a one year low of $9.24 and a one year high of $17.06. The stock has a market cap of $21.22 billion, a P/E ratio of 78.45 and a beta of 2.55. The company has a 50 day moving average price of $12.13 and a 200-day moving average price of $13.15.
A number of analysts have recently issued reports on FCX shares. FBR & Co reaffirmed a “market perform” rating and set a $13.00 price target on shares of Freeport-McMoran in a report on Tuesday, March 28th. BMO Capital Markets reaffirmed a “hold” rating and set a $15.00 price target on shares of Freeport-McMoran in a report on Thursday, June 29th. BidaskClub raised shares of Freeport-McMoran from a “sell” rating to a “hold” rating in a report on Monday. Clarkson Capital reaffirmed a “neutral” rating on shares of Freeport-McMoran in a report on Monday, July 10th. Finally, Berenberg Bank set a $10.00 price target on shares of Freeport-McMoran and gave the company a “sell” rating in a report on Saturday. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $13.77.
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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