FY2025 EPS Estimate for Freeport-McMoRan Lowered by Analyst

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

Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share (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%.

Other equities analysts have also issued reports about the stock. Argus lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Jefferies Financial Group raised Freeport-McMoRan from a “hold” rating to a “buy” rating and raised their target price for the company from $40.00 to $48.00 in a report on Thursday, February 27th. BMO Capital Markets reduced their target price on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, January 24th. JPMorgan Chase & Co. raised Freeport-McMoRan from a “neutral” rating to an “overweight” rating and raised their target price for the company from $48.00 to $52.00 in a report on Thursday. Finally, Dbs Bank raised Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $52.04.

Freeport-McMoRan Stock Performance

NYSE:FCX opened at $40.72 on Friday. The firm’s fifty day moving average price is $38.00 and its 200 day moving average price is $41.99. Freeport-McMoRan has a 1-year low of $33.98 and a 1-year high of $55.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. The firm has a market cap of $58.51 billion, a price-to-earnings ratio of 31.56, a price-to-earnings-growth ratio of 0.87 and a beta of 1.87.

Institutional Investors Weigh In On Freeport-McMoRan

Several institutional investors have recently made changes to their positions in the company. Asset Planning Inc bought a new position in shares of Freeport-McMoRan in the 4th quarter valued at approximately $25,000. Mizuho Bank Ltd. bought a new position in shares of Freeport-McMoRan in the 4th quarter valued at approximately $26,000. Vision Financial Markets LLC bought a new position in shares of Freeport-McMoRan in the 4th quarter valued at approximately $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 worth $28,000 after buying an additional 600 shares during the period. Finally, Roxbury Financial LLC bought a new position in Freeport-McMoRan in the 4th quarter worth approximately $28,000. 80.77% of the stock is currently owned by institutional investors and hedge funds.

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.