Equities analysts predict that Freeport-McMoRan Inc (NYSE:FCX) will report $0.48 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Freeport-McMoRan’s earnings, with the highest EPS estimate coming in at $0.68 and the lowest estimate coming in at $0.42. Freeport-McMoRan posted earnings of $0.34 per share during the same quarter last year, which would indicate a positive year over year growth rate of 41.2%. The business is scheduled to announce its next earnings report on Wednesday, October 24th.

According to Zacks, analysts expect that Freeport-McMoRan will report full-year earnings of $1.92 per share for the current financial year, with EPS estimates ranging from $1.77 to $2.18. For the next year, analysts expect that the firm will report earnings of $1.29 per share, with EPS estimates ranging from $0.85 to $1.96. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that follow Freeport-McMoRan.

Freeport-McMoRan (NYSE:FCX) last released its earnings results on Wednesday, July 25th. The natural resource company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.04. Freeport-McMoRan had a return on equity of 24.01% and a net margin of 14.87%. The firm had revenue of $5.17 billion during the quarter, compared to analysts’ expectations of $4.97 billion. During the same quarter last year, the business posted $0.17 earnings per share. The firm’s revenue was up 39.3% on a year-over-year basis.

A number of brokerages recently commented on FCX. Berenberg Bank reissued a “sell” rating and set a $15.00 price target on shares of Freeport-McMoRan in a research note on Wednesday, May 23rd. Alembic Global Advisors raised Freeport-McMoRan from a “neutral” rating to a “buy” rating in a research note on Wednesday, May 23rd. ValuEngine lowered Freeport-McMoRan from a “hold” rating to a “sell” rating in a research note on Wednesday, July 25th. Deutsche Bank raised Freeport-McMoRan from a “sell” rating to a “hold” rating in a research note on Thursday, July 26th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $24.00 price target on shares of Freeport-McMoRan in a research note on Thursday, July 26th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $17.81.

Several large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its stake in shares of Freeport-McMoRan by 28.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 27,267,197 shares of the natural resource company’s stock valued at $470,631,000 after purchasing an additional 6,041,164 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of Freeport-McMoRan by 33,318.4% in the 2nd quarter. Fisher Asset Management LLC now owns 14,476,496 shares of the natural resource company’s stock valued at $249,864,000 after purchasing an additional 14,433,177 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Freeport-McMoRan by 0.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,791,970 shares of the natural resource company’s stock valued at $238,008,000 after purchasing an additional 73,674 shares during the last quarter. Iridian Asset Management LLC CT bought a new stake in shares of Freeport-McMoRan in the 2nd quarter valued at approximately $190,933,000. Finally, Sound Shore Management Inc. CT lifted its stake in shares of Freeport-McMoRan by 13.0% in the 2nd quarter. Sound Shore Management Inc. CT now owns 8,504,488 shares of the natural resource company’s stock valued at $146,787,000 after purchasing an additional 978,232 shares during the last quarter. 71.79% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:FCX traded up $0.10 during trading on Friday, hitting $13.68. 803,249 shares of the company’s stock were exchanged, compared to its average volume of 15,209,022. The company has a current ratio of 2.72, a quick ratio of 1.62 and a debt-to-equity ratio of 0.87. Freeport-McMoRan has a 52-week low of $12.18 and a 52-week high of $20.25. The stock has a market capitalization of $19.75 billion, a P/E ratio of 11.75 and a beta of 2.50.

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc engages in the mining of mineral properties in the United States, Indonesia, Peru, and Chile. The company primarily explores for copper, gold, molybdenum, silver, and other metals, as well as oil and gas. Its assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde and El Abra mines in South America.

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

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