FY2025 EPS Estimates for Freeport-McMoRan Cut by Scotiabank

Freeport-McMoRan Inc. (NYSE:FCX - Free Report) - Analysts at Scotiabank lowered their FY2025 earnings per share (EPS) estimates for Freeport-McMoRan in a research report issued to clients and investors on Wednesday, March 19th. Scotiabank analyst O. Wowkodaw now forecasts that the natural resource company will post earnings per share of $1.12 for the year, down from their previous forecast of $1.21. Scotiabank has a "Sector Perform" rating and a $45.00 price objective on the stock. The consensus estimate for Freeport-McMoRan's current full-year earnings is $1.68 per share.

A number of other research firms also recently weighed in on FCX. Dbs Bank raised shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 10th. JPMorgan Chase & Co. raised shares of Freeport-McMoRan from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $48.00 to $52.00 in a research report on Thursday, March 20th. StockNews.com cut shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Thursday, March 20th. Argus downgraded Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. Finally, Sanford C. Bernstein cut Freeport-McMoRan from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $51.00 to $46.00 in a research note on Tuesday, January 7th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Freeport-McMoRan presently has an average rating of "Moderate Buy" and an average price target of $52.04.

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Freeport-McMoRan Stock Up 3.5 %

NYSE FCX traded up $1.47 during mid-day trading on Friday, reaching $43.08. 20,791,811 shares of the company's stock traded hands, compared to its average volume of 12,904,027. The company has a fifty day simple moving average of $38.15 and a 200-day simple moving average of $42.00. Freeport-McMoRan has a 1-year low of $33.98 and a 1-year high of $55.24. The company has a market cap of $61.91 billion, a price-to-earnings ratio of 33.40, a P/E/G ratio of 0.87 and a beta of 1.87. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. 111 Capital bought a new stake in shares of Freeport-McMoRan during the fourth quarter valued at approximately $503,000. Wealth Enhancement Advisory Services LLC raised its stake in Freeport-McMoRan by 14.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 180,623 shares of the natural resource company's stock valued at $6,878,000 after acquiring an additional 22,206 shares in the last quarter. NorthCrest Asset Manangement LLC boosted its position in Freeport-McMoRan by 3.0% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 444,942 shares of the natural resource company's stock worth $16,943,000 after acquiring an additional 12,816 shares during the period. Lansforsakringar Fondforvaltning AB publ bought a new position in shares of Freeport-McMoRan in the fourth quarter worth $17,815,000. Finally, PKO Investment Management Joint Stock Co acquired a new position in shares of Freeport-McMoRan during the fourth quarter valued at $1,908,000. 80.77% of the stock is 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.