Freeport-McMoRan Inc. (NYSE:FCX – Free Report) – Research analysts at Scotiabank lifted their FY2026 earnings per share (EPS) estimates for Freeport-McMoRan in a report released on Tuesday, October 13th. Scotiabank analyst O. Wowkodaw now expects that the natural resource company will post earnings of $3.35 per share for the year, up from their prior estimate of $3.06. The consensus estimate for Freeport-McMoRan’s current full-year earnings is $2.87 per share. Scotiabank also issued estimates for Freeport-McMoRan’s FY2027 earnings at $2.86 EPS.
Freeport-McMoRan (NYSE:FCX – Get Free Report) last posted its earnings results on Thursday, July 23rd. The natural resource company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.12. The company had revenue of $7.03 billion for the quarter, compared to analyst estimates of $6.62 billion. Freeport-McMoRan had a return on equity of 10.63% and a net margin of 11.39%. Freeport-McMoRan’s revenue was down 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.54 earnings per share.
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Freeport-McMoRan Trading Down 1.1%
Shares of FCX stock opened at $72.47 on Wednesday. The stock has a market cap of $104.07 billion, a P/E ratio of 35.70, a P/E/G ratio of 0.70 and a beta of 1.39. The company has a quick ratio of 0.92, a current ratio of 2.07 and a debt-to-equity ratio of 0.25. Freeport-McMoRan has a fifty-two week low of $38.54 and a fifty-two week high of $80.24. The business has a fifty day simple moving average of $72.08 and a 200-day simple moving average of $66.41.
Freeport-McMoRan Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Thursday, October 15th will be paid a dividend of $0.0750 per share. This represents a $0.30 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Thursday, October 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 14.78%.
Insider Activity
In other news, Director Lydia Kennard sold 3,798 shares of Freeport-McMoRan stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $79.11, for a total transaction of $300,459.78. Following the completion of the sale, the director directly owned 122,702 shares in the company, valued at $9,706,955.22. The trade was a 3.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Stephen Higgins sold 14,277 shares of Freeport-McMoRan stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $69.50, for a total transaction of $992,251.50. Following the sale, the chief accounting officer owned 54,618 shares of the company’s stock, valued at approximately $3,795,951. This trade represents a 20.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 110,398 shares of company stock valued at $8,387,271 over the last quarter. 0.73% of the stock is currently owned by company insiders.
Institutional Trading of Freeport-McMoRan
Several hedge funds and other institutional investors have recently bought and sold shares of FCX. Jupiter Topco LLC acquired a new position in Freeport-McMoRan in the 2nd quarter valued at $739,890,000. Bank of America Corp DE lifted its stake in shares of Freeport-McMoRan by 20.0% during the 1st quarter. Bank of America Corp DE now owns 42,345,502 shares of the natural resource company’s stock worth $2,489,069,000 after purchasing an additional 7,044,775 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Freeport-McMoRan by 101.2% during the 1st quarter. Janus Henderson Group PLC now owns 11,498,267 shares of the natural resource company’s stock worth $675,896,000 after purchasing an additional 5,784,156 shares during the period. Castle Hook Partners LP purchased a new position in shares of Freeport-McMoRan during the 4th quarter worth $179,507,000. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Freeport-McMoRan by 79.8% during the first quarter. Assenagon Asset Management S.A. now owns 5,257,470 shares of the natural resource company’s stock worth $309,034,000 after purchasing an additional 2,332,625 shares during the last quarter. 80.77% of the stock is owned by hedge funds and other institutional investors.
About Freeport-McMoRan
Freeport-McMoRan Inc (NYSE: FCX) is a leading international mining company focused primarily on the exploration, development and production of copper, gold and molybdenum. Copper is its principal product and is used in electrical systems, construction, transportation, renewable energy infrastructure and other industrial applications. The company also produces copper cathodes and concentrates, gold, molybdenum products and certain quantities of silver and other byproducts.
Freeport-McMoRan operates a portfolio of mining and processing assets in North America, South America and Indonesia.
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