Freeport-McMoRan (NYSE:FCX) Releases Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Freeport-McMoRan (NYSE:FCX) posted its quarterly earnings data on Thursday. The natural resource company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05), Zacks reports. Freeport-McMoRan had a net margin of 7.81% and a return on equity of 7.40%.

Freeport-McMoRan Stock Performance

Shares of Freeport-McMoRan stock opened at $38.49 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.33 and a quick ratio of 1.30. Freeport-McMoRan has a one year low of $36.26 and a one year high of $55.24. The business has a 50-day simple moving average of $40.91 and a 200 day simple moving average of $44.04. The firm has a market capitalization of $55.31 billion, a price-to-earnings ratio of 28.10, a PEG ratio of 2.39 and a beta of 1.87.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FCX shares. Jefferies Financial Group cut Freeport-McMoRan from a “buy” rating to a “hold” rating and decreased their price target for the company from $48.00 to $40.00 in a research note on Friday. JPMorgan Chase & Co. decreased their target price on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Sanford C. Bernstein downgraded shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. StockNews.com cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. Finally, Raymond James boosted their target price on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Eight investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Freeport-McMoRan presently has an average rating of “Moderate Buy” and an average target price of $51.81.

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.