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

Freeport-McMoRan (NYSE:FCX) announced its quarterly earnings results on Thursday. The natural resource company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate 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 Trading Down 5.6 %

Shares of FCX opened at $36.90 on Thursday. The firm has a market capitalization of $53.02 billion, a price-to-earnings ratio of 26.93, a PEG ratio of 2.44 and a beta of 1.87. The company has a 50-day moving average of $41.01 and a 200 day moving average of $44.08. Freeport-McMoRan has a 1-year low of $36.26 and a 1-year high of $55.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.33 and a quick ratio of 1.30.

Analysts Set New Price Targets

Several equities analysts recently issued reports on FCX shares. Scotiabank lowered their price objective on Freeport-McMoRan from $52.00 to $48.00 and set a “sector perform” rating on the stock in a research report on Monday, January 6th. StockNews.com lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. Raymond James increased their price target on Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their price target on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Finally, Jefferies Financial Group reduced their price objective on Freeport-McMoRan from $60.00 to $48.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Freeport-McMoRan presently has a consensus rating of “Moderate Buy” and an average price target of $52.42.

About Freeport-McMoRan

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.