Raymond James Brokers Lower Earnings Estimates for FCX

Freeport-McMoRan Inc. (NYSE:FCX - Free Report) - Equities research analysts at Raymond James dropped their Q1 2025 earnings per share estimates for Freeport-McMoRan in a research report issued on Tuesday, April 1st. Raymond James analyst B. Macarthur now anticipates that the natural resource company will post earnings of $0.20 per share for the quarter, down from their prior forecast of $0.26. Raymond James currently has a "Outperform" rating and a $51.00 price target 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.

A number of other equities research analysts also recently weighed in on FCX. Jefferies Financial Group upgraded Freeport-McMoRan from a "hold" rating to a "buy" rating and lifted their target price for the stock from $40.00 to $48.00 in a report on Thursday, February 27th. Dbs Bank upgraded shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 10th. JPMorgan Chase & Co. upgraded shares of Freeport-McMoRan from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $48.00 to $52.00 in a report on Thursday, March 20th. Argus lowered shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Friday, January 31st. Finally, StockNews.com upgraded Freeport-McMoRan from a "hold" rating to a "buy" rating in a research note on Monday, March 31st. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Freeport-McMoRan presently has a consensus rating of "Moderate Buy" and a consensus target price of $51.61.

Remove Ads

Freeport-McMoRan Trading Down 13.0 %

Shares of NYSE:FCX traded down $4.37 during midday trading on Thursday, reaching $29.14. The company's stock had a trading volume of 44,396,895 shares, compared to its average volume of 13,529,687. Freeport-McMoRan has a fifty-two week low of $28.49 and a fifty-two week high of $55.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. The firm has a 50 day moving average price of $37.75 and a two-hundred day moving average price of $41.73. The firm has a market capitalization of $41.88 billion, a price-to-earnings ratio of 22.59, a PEG ratio of 0.87 and a beta of 1.71.

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

Freeport-McMoRan Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Tuesday, April 15th. Freeport-McMoRan's dividend payout ratio is 23.26%.

Institutional Trading of Freeport-McMoRan

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

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.