Freeport-McMoRan (FCX) Expected to Announce Earnings on Thursday

Freeport-McMoRan (NYSE:FCX - Get Free Report) is projected to announce its earnings results before the market opens on Thursday, January 23rd. Analysts expect the company to announce earnings of $0.36 per share and revenue of $6,288,570.00 billion for the quarter.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The natural resource company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.37 by $0.01. Freeport-McMoRan had a net margin of 7.81% and a return on equity of 7.40%. The business had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.45 billion. During the same period in the previous year, the business posted $0.39 EPS. The company's quarterly revenue was up 16.6% on a year-over-year basis. On average, analysts expect Freeport-McMoRan to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Freeport-McMoRan Price Performance

FCX opened at $40.04 on Thursday. The company has a quick ratio of 1.30, a current ratio of 2.33 and a debt-to-equity ratio of 0.31. The company's 50-day moving average price is $41.67 and its 200 day moving average price is $44.46. Freeport-McMoRan has a fifty-two week low of $36.26 and a fifty-two week high of $55.24. The firm has a market cap of $57.53 billion, a price-to-earnings ratio of 29.23, a price-to-earnings-growth ratio of 2.90 and a beta of 1.87.

Freeport-McMoRan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Wednesday, January 15th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date is Wednesday, January 15th. Freeport-McMoRan's payout ratio is 43.80%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Morgan Stanley reduced their price objective on Freeport-McMoRan from $60.00 to $58.00 and set an "overweight" rating for the company in a research report on Thursday, September 19th. JPMorgan Chase & Co. upped their price target on shares of Freeport-McMoRan from $53.00 to $55.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 15th. Raymond James lifted their price objective on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the company an "outperform" rating in a research report on Wednesday, October 23rd. Sanford C. Bernstein cut shares of Freeport-McMoRan from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. Finally, StockNews.com cut Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Thursday, September 26th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Freeport-McMoRan currently has a consensus rating of "Moderate Buy" and an average target price of $52.96.

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.