Equities Analysts Set Expectations for FCX FY2025 Earnings

Freeport-McMoRan Inc. (NYSE:FCX - Free Report) - Equities researchers at Scotiabank reduced their FY2025 earnings per share (EPS) estimates for shares of Freeport-McMoRan in a research note issued on Wednesday, January 8th. Scotiabank analyst O. Wowkodaw now forecasts that the natural resource company will post earnings per share of $1.21 for the year, down from their previous estimate of $1.34. Scotiabank has a "Sector Perform" rating and a $48.00 price target on the stock. The consensus estimate for Freeport-McMoRan's current full-year earnings is $1.49 per share.

FCX has been the subject of a number of other research reports. Jefferies Financial Group lowered their price target on shares of Freeport-McMoRan from $60.00 to $48.00 and set a "buy" rating for the company in a report on Monday. StockNews.com cut Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Thursday, September 26th. JPMorgan Chase & Co. increased their price target on Freeport-McMoRan from $53.00 to $55.00 and gave the company a "neutral" rating in a 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 stock an "outperform" rating in a research note on Wednesday, October 23rd. Finally, Sanford C. Bernstein downgraded shares of Freeport-McMoRan from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $51.00 to $46.00 in a research note on Tuesday. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $52.96.

Freeport-McMoRan Price Performance

FCX stock traded up $1.03 during trading on Thursday, hitting $39.77. 15,584,579 shares of the company's stock traded hands, compared to its average volume of 13,761,984. The business has a fifty day simple moving average of $42.09 and a 200 day simple moving average of $44.74. Freeport-McMoRan has a 52 week low of $36.26 and a 52 week high of $55.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.30 and a current ratio of 2.33. The stock has a market capitalization of $57.15 billion, a price-to-earnings ratio of 29.03, a P/E/G ratio of 2.90 and a beta of 1.86.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The natural resource company reported $0.38 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.01. Freeport-McMoRan had a net margin of 7.81% and a return on equity of 7.40%. The firm had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.45 billion. During the same period last year, the firm posted $0.39 earnings per share. Freeport-McMoRan's revenue for the quarter was up 16.6% compared to the same quarter last year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Hazlett Burt & Watson Inc. boosted its stake in shares of Freeport-McMoRan by 1,170.7% during the second quarter. Hazlett Burt & Watson Inc. now owns 521 shares of the natural resource company's stock valued at $25,000 after purchasing an additional 480 shares in the last quarter. Spectrum Wealth Counsel LLC bought a new stake in Freeport-McMoRan during the 2nd quarter valued at $25,000. Matrix Trust Co purchased a new position in shares of Freeport-McMoRan in the 3rd quarter valued at $25,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Freeport-McMoRan in the 2nd quarter worth $27,000. Finally, Strategic Financial Concepts LLC purchased a new stake in shares of Freeport-McMoRan during the 2nd quarter worth $29,000. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Freeport-McMoRan Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Wednesday, January 15th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $0.60 annualized dividend and a yield of 1.51%. This is a boost from Freeport-McMoRan's previous quarterly dividend of $0.08. Freeport-McMoRan's dividend payout ratio is 21.90%.

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.