Scotiabank Has Bearish Estimate for FCX FY2025 Earnings

Freeport-McMoRan Inc. (NYSE:FCX) – Analysts at Scotiabank cut their FY2025 earnings per share estimates for Freeport-McMoRan in a note issued to investors on Wednesday, March 19th. Scotiabank analyst O. Wowkodaw now anticipates that the natural resource company will post earnings of $1.12 per share for the year, down from their previous estimate of $1.21. Scotiabank currently has a “Sector Perform” rating and a $45.00 price target on the stock. The consensus estimate for Freeport-McMoRan’s current full-year earnings is $1.68 per share.

FCX has been the subject of several other reports. JPMorgan Chase & Co. upgraded shares of Freeport-McMoRan from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $48.00 to $52.00 in a research report on Thursday. StockNews.com downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Thursday. Argus downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research report on Thursday, March 6th. Finally, Jefferies Financial Group upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and boosted their price objective for the company from $40.00 to $48.00 in a research report on Thursday, February 27th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $52.04.

Freeport-McMoRan Trading Down 1.0 %

Shares of FCX stock opened at $40.31 on Friday. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. The stock has a market cap of $57.93 billion, a P/E ratio of 31.25, a price-to-earnings-growth ratio of 0.87 and a beta of 1.87. The stock has a 50 day simple moving average of $38.03 and a 200 day simple moving average of $41.97. Freeport-McMoRan has a 1 year low of $33.98 and a 1 year high of $55.24.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%.

Institutional Trading of Freeport-McMoRan

A number of institutional investors and hedge funds have recently bought and sold shares of FCX. Asset Planning Inc acquired a new stake in Freeport-McMoRan in the fourth quarter valued at $25,000. Mizuho Bank Ltd. bought a new stake in Freeport-McMoRan during the fourth quarter valued at $26,000. Vision Financial Markets LLC bought a new stake in Freeport-McMoRan during the fourth quarter valued at $27,000. Laurel Wealth Advisors LLC boosted its position in Freeport-McMoRan by 487.8% during the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after acquiring an additional 600 shares during the last quarter. Finally, Roxbury Financial LLC bought a new stake in Freeport-McMoRan during the fourth quarter valued at $28,000. 80.77% of the stock is currently owned by institutional investors and hedge funds.

About Freeport-McMoRan

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.