Raymond James Lowers Earnings Estimates for Freeport-McMoRan

Freeport-McMoRan Inc. (NYSE:FCX - Free Report) - Stock analysts at Raymond James reduced their Q1 2025 earnings per share (EPS) estimates for Freeport-McMoRan in a research report issued on Tuesday, April 1st. Raymond James analyst B. Macarthur now forecasts that the natural resource company will earn $0.20 per share for the quarter, down from their previous forecast of $0.26. Raymond James has a "Outperform" rating and a $51.00 price objective on the stock. The consensus estimate for Freeport-McMoRan's current full-year earnings is $1.68 per share. Raymond James also issued estimates for Freeport-McMoRan's FY2025 earnings at $1.59 EPS.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share 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%.

Several other equities analysts also recently commented on FCX. Scotiabank dropped their price objective on shares of Freeport-McMoRan from $45.00 to $40.00 and set a "sector perform" rating for the company in a research note on Monday. Jefferies Financial Group raised Freeport-McMoRan from a "hold" rating to a "buy" rating and raised their price objective for the company from $40.00 to $48.00 in a report on Thursday, February 27th. StockNews.com cut Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Tuesday. Sanford C. Bernstein downgraded Freeport-McMoRan from an "outperform" rating to a "market perform" rating and dropped their target price for the company from $51.00 to $46.00 in a research report on Tuesday, January 7th. Finally, Dbs Bank upgraded Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a report on Monday, March 10th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Freeport-McMoRan currently has a consensus rating of "Moderate Buy" and an average target price of $51.25.

Freeport-McMoRan Price Performance

Shares of FCX stock traded down $0.59 on Thursday, reaching $29.78. The company had a trading volume of 17,542,491 shares, compared to its average volume of 17,035,004. The stock has a market capitalization of $42.79 billion, a PE ratio of 23.06, a price-to-earnings-growth ratio of 0.87 and a beta of 1.71. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. The business's 50-day moving average is $37.63 and its 200 day moving average is $41.61. Freeport-McMoRan has a one year low of $27.66 and a one year high of $55.24.

Freeport-McMoRan Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be issued a $0.15 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $0.60 annualized dividend and a yield of 2.01%. Freeport-McMoRan's payout ratio is 23.26%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Continuum Advisory LLC grew its position in shares of Freeport-McMoRan by 46.8% during the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company's stock worth $37,000 after buying an additional 236 shares during the period. Coppell Advisory Solutions LLC boosted its stake in Freeport-McMoRan by 47.4% during the fourth quarter. Coppell Advisory Solutions LLC now owns 833 shares of the natural resource company's stock worth $32,000 after acquiring an additional 268 shares in the last quarter. PFG Investments LLC grew its holdings in Freeport-McMoRan by 1.3% in the fourth quarter. PFG Investments LLC now owns 22,910 shares of the natural resource company's stock worth $872,000 after purchasing an additional 283 shares during the period. Palogic Value Management L.P. increased its stake in Freeport-McMoRan by 1.5% in the fourth quarter. Palogic Value Management L.P. now owns 20,277 shares of the natural resource company's stock valued at $772,000 after purchasing an additional 292 shares in the last quarter. Finally, SeaCrest Wealth Management LLC increased its stake in Freeport-McMoRan by 1.6% in the fourth quarter. SeaCrest Wealth Management LLC now owns 19,104 shares of the natural resource company's stock valued at $727,000 after purchasing an additional 307 shares in the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

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.