Analysts expect Freeport-McMoRan Inc (NYSE:FCX) to report $0.60 earnings per share for the current quarter, Zacks reports. Four analysts have provided estimates for Freeport-McMoRan’s earnings, with the highest EPS estimate coming in at $0.72 and the lowest estimate coming in at $0.51. Freeport-McMoRan reported earnings per share of $0.15 in the same quarter last year, which suggests a positive year over year growth rate of 300%. The business is scheduled to issue its next quarterly earnings report on Tuesday, April 24th.
On average, analysts expect that Freeport-McMoRan will report full year earnings of $2.31 per share for the current financial year, with EPS estimates ranging from $1.75 to $2.74. For the next financial year, analysts forecast that the company will report earnings of $1.61 per share, with EPS estimates ranging from $0.70 to $2.22. Zacks’ EPS calculations are an average based on a survey of research firms that follow Freeport-McMoRan.
Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings data on Thursday, January 25th. The natural resource company reported $0.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.02. Freeport-McMoRan had a return on equity of 16.57% and a net margin of 11.08%. The business had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same period in the previous year, the firm posted $0.25 earnings per share. The company’s revenue was up 15.2% on a year-over-year basis.
In other Freeport-McMoRan news, VP C Donald Whitmire, Jr. sold 21,500 shares of Freeport-McMoRan stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $19.49, for a total transaction of $419,035.00. Following the completion of the sale, the vice president now directly owns 70,239 shares of the company’s stock, valued at approximately $1,368,958.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.29% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its holdings in Freeport-McMoRan by 7.5% during the 4th quarter. Bank of New York Mellon Corp now owns 26,119,382 shares of the natural resource company’s stock worth $495,222,000 after buying an additional 1,826,480 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Freeport-McMoRan by 5.1% during the third quarter. Dimensional Fund Advisors LP now owns 12,110,654 shares of the natural resource company’s stock worth $170,081,000 after purchasing an additional 589,638 shares in the last quarter. BT Investment Management Ltd increased its position in shares of Freeport-McMoRan by 6.4% during the third quarter. BT Investment Management Ltd now owns 8,402,905 shares of the natural resource company’s stock worth $118,048,000 after purchasing an additional 507,722 shares in the last quarter. Contrarius Investment Management Ltd increased its position in shares of Freeport-McMoRan by 74.3% during the third quarter. Contrarius Investment Management Ltd now owns 6,176,460 shares of the natural resource company’s stock worth $86,717,000 after purchasing an additional 2,633,409 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in shares of Freeport-McMoRan by 1.6% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 6,061,699 shares of the natural resource company’s stock worth $114,930,000 after purchasing an additional 97,798 shares in the last quarter. 68.40% of the stock is owned by institutional investors.
Shares of Freeport-McMoRan (FCX) traded down $0.39 during midday trading on Wednesday, hitting $18.73. The stock had a trading volume of 16,549,300 shares, compared to its average volume of 23,248,693. Freeport-McMoRan has a twelve month low of $11.05 and a twelve month high of $20.25. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.14 and a quick ratio of 1.37. The firm has a market capitalization of $27,113.36, a PE ratio of 15.10 and a beta of 2.50.
Freeport-McMoRan Company Profile
Freeport-McMoRan Inc (FCX) is a mining company. The Company operates through geographical assets with proven and probable reserves of copper, gold and molybdenum, and traded copper producer. The Company’s segments include refined copper products, copper in concentrate, gold, molybdenum, oil and other.
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