Freeport-McMoran, Inc. (NYSE:FCX) - FBR & Co lifted their Q1 2018 earnings per share estimates for Freeport-McMoran in a note issued to investors on Thursday. FBR & Co analyst L. Pipes now anticipates that the natural resource company will post earnings per share of $0.24 for the quarter, up from their prior estimate of $0.22. FBR & Co has a “Market Perform” rating and a $13.00 price objective on the stock. FBR & Co also issued estimates for Freeport-McMoran’s Q2 2018 earnings at $0.24 EPS, Q3 2018 earnings at $0.25 EPS, Q4 2018 earnings at $0.25 EPS, FY2018 earnings at $0.97 EPS and FY2019 earnings at $0.66 EPS.
Freeport-McMoran (NYSE:FCX) last issued its quarterly earnings results on Tuesday, July 25th. The natural resource company reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by $0.04. Freeport-McMoran had a return on equity of 10.45% and a net margin of 5.97%. The firm had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.67 billion. During the same period last year, the firm earned ($0.02) EPS. The company’s revenue for the quarter was up 11.3% on a year-over-year basis.
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A number of other brokerages have also weighed in on FCX. BMO Capital Markets restated a “hold” rating and set a $15.00 price objective on shares of Freeport-McMoran in a research report on Thursday, June 29th. Berenberg Bank set a $10.00 price objective on shares of Freeport-McMoran and gave the stock a “sell” rating in a research note on Friday. BidaskClub raised shares of Freeport-McMoran from a “sell” rating to a “hold” rating in a research note on Monday. Clarkson Capital reissued a “neutral” rating on shares of Freeport-McMoran in a research note on Monday, July 10th. Finally, Cowen and Company raised their price objective on shares of Freeport-McMoran from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $14.27.
Shares of Freeport-McMoran (FCX) traded up 0.69% during midday trading on Friday, reaching $14.60. The company’s stock had a trading volume of 17,855,148 shares. The company has a market cap of $21.12 billion, a PE ratio of 78.07 and a beta of 2.55. Freeport-McMoran has a 12 month low of $9.24 and a 12 month high of $17.06. The company’s 50-day moving average price is $12.40 and its 200-day moving average price is $13.17. Freeport-McMoran also was the recipient of some unusual options trading on Tuesday. Stock investors acquired 41,703 put options on the company. This represents an increase of approximately 283% compared to the average daily volume of 10,892 put options.
Several large investors have recently bought and sold shares of FCX. Prospera Financial Services Inc increased its stake in Freeport-McMoran by 0.6% in the first quarter. Prospera Financial Services Inc now owns 10,491 shares of the natural resource company’s stock valued at $140,000 after buying an additional 60 shares during the last quarter. M Holdings Securities Inc. increased its stake in Freeport-McMoran by 1.1% in the first quarter. M Holdings Securities Inc. now owns 14,396 shares of the natural resource company’s stock valued at $192,000 after buying an additional 150 shares during the last quarter. Conning Inc. increased its stake in Freeport-McMoran by 0.8% in the first quarter. Conning Inc. now owns 30,081 shares of the natural resource company’s stock valued at $402,000 after buying an additional 239 shares during the last quarter. Sii Investments Inc. WI increased its stake in Freeport-McMoran by 2.3% in the first quarter. Sii Investments Inc. WI now owns 13,643 shares of the natural resource company’s stock valued at $182,000 after buying an additional 305 shares during the last quarter. Finally, Sprott Inc. increased its stake in Freeport-McMoran by 2.6% in the first quarter. Sprott Inc. now owns 14,777 shares of the natural resource company’s stock valued at $197,000 after buying an additional 375 shares during the last quarter. Institutional investors and hedge funds own 69.48% of the company’s stock.
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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