Freeport-McMoRan Inc (NYSE:FCX) – Analysts at Jefferies Group lifted their FY2017 earnings estimates for shares of Freeport-McMoRan in a research note issued to investors on Friday. Jefferies Group analyst C. Lafemina now forecasts that the natural resource company will post earnings per share of $1.10 for the year, up from their previous estimate of $1.07. Jefferies Group has a “Buy” rating and a $19.00 price target on the stock.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Wednesday, October 25th. The natural resource company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.03. The business had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.06 billion. Freeport-McMoRan had a net margin of 6.20% and a return on equity of 13.35%. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.13 earnings per share.

Other analysts have also recently issued research reports about the stock. B. Riley reaffirmed a “neutral” rating on shares of Freeport-McMoRan in a research report on Wednesday, November 1st. Deutsche Bank cut shares of Freeport-McMoRan from a “hold” rating to a “sell” rating and set a $13.00 price target on the stock. in a research report on Tuesday, October 17th. Royal Bank of Canada reaffirmed a “hold” rating and set a $17.00 price target on shares of Freeport-McMoRan in a research report on Tuesday, December 5th. ValuEngine raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Thursday, October 26th. Finally, FBR & Co reaffirmed a “hold” rating and set a $12.00 price target on shares of Freeport-McMoRan in a research report on Thursday, October 26th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $15.64.

Shares of Freeport-McMoRan (FCX) opened at $19.90 on Monday. The company has a current ratio of 2.02, a quick ratio of 1.32 and a debt-to-equity ratio of 1.23. The company has a market cap of $28,800.00, a price-to-earnings ratio of 27.64 and a beta of 2.51. Freeport-McMoRan has a 1 year low of $11.05 and a 1 year high of $19.91.

Several hedge funds have recently added to or reduced their stakes in FCX. Federated Investors Inc. PA boosted its position in shares of Freeport-McMoRan by 19.4% during the 2nd quarter. Federated Investors Inc. PA now owns 57,310 shares of the natural resource company’s stock worth $688,000 after purchasing an additional 9,299 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of Freeport-McMoRan by 58.2% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 33,684 shares of the natural resource company’s stock worth $404,000 after purchasing an additional 12,390 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Freeport-McMoRan by 20.0% during the 2nd quarter. Pacer Advisors Inc. now owns 29,374 shares of the natural resource company’s stock worth $353,000 after purchasing an additional 4,891 shares in the last quarter. Freestone Capital Holdings LLC boosted its position in shares of Freeport-McMoRan by 1.1% during the 2nd quarter. Freestone Capital Holdings LLC now owns 47,314 shares of the natural resource company’s stock worth $568,000 after purchasing an additional 507 shares in the last quarter. Finally, Schroder Investment Management Group boosted its position in shares of Freeport-McMoRan by 2,015.5% during the 2nd quarter. Schroder Investment Management Group now owns 11,487 shares of the natural resource company’s stock worth $139,000 after purchasing an additional 10,944 shares in the last quarter. 68.07% of the stock is currently owned by institutional investors.

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About Freeport-McMoRan

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.

Earnings History and Estimates for Freeport-McMoRan (NYSE:FCX)

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