Wall Street analysts expect Freeport-McMoRan Inc (NYSE:FCX) to announce earnings of ($0.22) per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Freeport-McMoRan’s earnings, with the highest EPS estimate coming in at ($0.18) and the lowest estimate coming in at ($0.27). Freeport-McMoRan reported earnings per share of ($0.04) during the same quarter last year, which suggests a negative year over year growth rate of 450%. The company is scheduled to report its next earnings report on Wednesday, July 22nd.

On average, analysts expect that Freeport-McMoRan will report full year earnings of $0.03 per share for the current financial year, with EPS estimates ranging from ($0.25) to $0.19. For the next fiscal year, analysts anticipate that the firm will report earnings of $1.06 per share, with EPS estimates ranging from $0.34 to $1.88. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that follow Freeport-McMoRan.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Friday, April 24th. The natural resource company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.98 billion. Freeport-McMoRan had a negative return on equity of 1.55% and a negative net margin of 5.05%. The firm’s revenue was down 26.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.05 earnings per share.

FCX has been the subject of a number of recent analyst reports. Credit Suisse Group upped their price objective on Freeport-McMoRan from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Deutsche Bank increased their price target on Freeport-McMoRan from $11.00 to $13.50 and gave the stock a “buy” rating in a report on Thursday, June 11th. Eight Capital upgraded Freeport-McMoRan from a “neutral” rating to a “buy” rating in a report on Monday, April 27th. TheStreet downgraded Freeport-McMoRan from a “c” rating to a “d+” rating in a report on Friday, April 24th. Finally, Morgan Stanley increased their price target on Freeport-McMoRan from $11.40 to $12.50 and gave the stock an “overweight” rating in a report on Tuesday, June 23rd. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Freeport-McMoRan presently has a consensus rating of “Buy” and a consensus target price of $12.97.

A number of institutional investors and hedge funds have recently made changes to their positions in FCX. Sei Investments Co. lifted its holdings in Freeport-McMoRan by 574.2% during the 4th quarter. Sei Investments Co. now owns 319,804 shares of the natural resource company’s stock worth $4,214,000 after buying an additional 272,367 shares during the period. Victory Capital Management Inc. increased its position in Freeport-McMoRan by 8.4% in the 4th quarter. Victory Capital Management Inc. now owns 5,127,027 shares of the natural resource company’s stock valued at $67,267,000 after buying an additional 396,375 shares in the last quarter. Acadian Asset Management LLC bought a new stake in Freeport-McMoRan in the 4th quarter valued at about $47,000. M&T Bank Corp increased its position in Freeport-McMoRan by 4.6% in the 4th quarter. M&T Bank Corp now owns 101,422 shares of the natural resource company’s stock valued at $1,331,000 after buying an additional 4,480 shares in the last quarter. Finally, FMR LLC increased its position in Freeport-McMoRan by 2,427.9% in the 4th quarter. FMR LLC now owns 6,153,339 shares of the natural resource company’s stock valued at $80,731,000 after buying an additional 5,909,921 shares in the last quarter. 71.17% of the stock is currently owned by hedge funds and other institutional investors.

NYSE FCX traded up $0.53 on Tuesday, reaching $11.57. The company had a trading volume of 23,999,777 shares, compared to its average volume of 27,199,533. The stock’s 50 day moving average is $9.84 and its 200-day moving average is $10.18. The stock has a market cap of $15.67 billion, a price-to-earnings ratio of -23.00 and a beta of 2.25. The company has a quick ratio of 1.11, a current ratio of 2.34 and a debt-to-equity ratio of 0.58. Freeport-McMoRan has a 52 week low of $4.82 and a 52 week high of $13.64.

Freeport-McMoRan Company Profile

Freeport-McMoRan, Inc engages in the mining of copper, gold, and molybdenum. It operates through the following segments: North America Copper Mines; South America Mining; Indonesia Mining; Molybdenum Mines; Rod and Refining; Atlantic Copper Smelting and Refining; and Corporate, Other, and Eliminations.

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Earnings History and Estimates for Freeport-McMoRan (NYSE:FCX)

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