Freeport-McMoRan (NYSE:FCX) Releases Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Freeport-McMoRan (NYSE:FCX) issued its quarterly earnings results on Thursday. The natural resource company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05), Zacks reports. Freeport-McMoRan had a return on equity of 7.40% and a net margin of 7.81%.

Freeport-McMoRan Stock Performance

Shares of FCX stock opened at $38.49 on Friday. The firm has a market capitalization of $55.31 billion, a price-to-earnings ratio of 28.10, a PEG ratio of 2.39 and a beta of 1.87. The company has a current ratio of 2.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.31. The business’s 50-day moving average price is $40.91 and its 200-day moving average price is $44.04. Freeport-McMoRan has a 12 month low of $36.26 and a 12 month high of $55.24.

Wall Street Analyst Weigh In

FCX has been the topic of several recent analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. StockNews.com cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. Sanford C. Bernstein downgraded shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $51.00 to $46.00 in a research report on Tuesday, January 7th. Jefferies Financial Group downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating and reduced their target price for the company from $48.00 to $40.00 in a report on Friday. Finally, Scotiabank lowered their price target on Freeport-McMoRan from $52.00 to $48.00 and set a “sector perform” rating for the company in a report on Monday, January 6th. Eight analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $51.81.

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.