FY2025 EPS Estimate for Freeport-McMoRan Lowered by Analyst

Freeport-McMoRan Inc. (NYSE:FCX) – Research analysts at Scotiabank cut their FY2025 earnings per share estimates for shares of Freeport-McMoRan in a research report issued to clients and investors on Wednesday, March 19th. Scotiabank analyst O. Wowkodaw now expects that the natural resource company will post earnings of $1.12 per share for the year, down from their previous forecast of $1.21. Scotiabank has a “Sector Perform” rating and a $45.00 price target on the stock. The consensus estimate for Freeport-McMoRan’s current full-year earnings is $1.68 per share.

Other equities research analysts also recently issued research reports about the company. Jefferies Financial Group upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and boosted their target price for the stock from $40.00 to $48.00 in a research report on Thursday, February 27th. JPMorgan Chase & Co. upgraded Freeport-McMoRan from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $48.00 to $52.00 in a research report on Thursday. Dbs Bank upgraded Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. StockNews.com downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Thursday. Finally, BMO Capital Markets dropped their price objective on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $52.04.

Freeport-McMoRan Trading Up 0.7 %

FCX stock opened at $40.72 on Friday. The company has a market cap of $58.51 billion, a P/E ratio of 31.56, a PEG ratio of 0.87 and a beta of 1.87. Freeport-McMoRan has a twelve month low of $33.98 and a twelve month high of $55.24. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. The business has a fifty day moving average of $38.00 and a 200-day moving average of $41.99.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in FCX. Asset Planning Inc bought a new stake in Freeport-McMoRan in the 4th quarter valued at about $25,000. Mizuho Bank Ltd. bought a new stake in Freeport-McMoRan in the 4th quarter valued at about $26,000. Vision Financial Markets LLC bought a new stake in Freeport-McMoRan in the 4th quarter valued at about $27,000. Laurel Wealth Advisors LLC increased its position in Freeport-McMoRan by 487.8% in the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after buying an additional 600 shares in the last quarter. Finally, Roxbury Financial LLC bought a new stake in Freeport-McMoRan in the 4th quarter valued at about $28,000. 80.77% of the stock is owned by institutional investors.

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.