What is Erste Group Bank’s Estimate for FCX FY2027 Earnings?

Freeport-McMoRan Inc. (NYSE:FCX) – Erste Group Bank upped their FY2027 earnings per share estimates for shares of Freeport-McMoRan in a research note issued to investors on Thursday, October 8th. Erste Group Bank analyst H. Engel now expects that the natural resource company will earn $4.32 per share for the year, up from their prior estimate of $4.00. Erste Group Bank has a “Buy” rating on the stock. The consensus estimate for Freeport-McMoRan’s current full-year earnings is $2.87 per share.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings data on Thursday, July 23rd. The natural resource company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.62 by $0.12. Freeport-McMoRan had a return on equity of 10.63% and a net margin of 11.39%. The company had revenue of $7.03 billion for the quarter, compared to analyst estimates of $6.62 billion. During the same period last year, the company earned $0.54 earnings per share. Freeport-McMoRan’s quarterly revenue was down 7.3% compared to the same quarter last year.

A number of other equities research analysts have also recently issued reports on FCX. JPMorgan Chase & Co. lifted their price target on shares of Freeport-McMoRan from $77.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, October 7th. Wells Fargo & Company upped their price objective on shares of Freeport-McMoRan from $70.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 6th. Barclays upped their price objective on shares of Freeport-McMoRan from $82.00 to $83.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 6th. UBS Group boosted their target price on shares of Freeport-McMoRan from $77.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, October 8th. Finally, Stifel Nicolaus upped their price target on shares of Freeport-McMoRan from $76.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Freeport-McMoRan currently has an average rating of “Moderate Buy” and a consensus target price of $76.22.

Freeport-McMoRan Trading Down 1.1%

Shares of FCX stock opened at $72.47 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.07 and a quick ratio of 0.92. The company has a market cap of $104.07 billion, a price-to-earnings ratio of 35.70, a PEG ratio of 0.70 and a beta of 1.39. The stock has a 50 day simple moving average of $72.08 and a 200-day simple moving average of $66.41. Freeport-McMoRan has a 1-year low of $38.54 and a 1-year high of $80.24.

Institutional Investors Weigh In On Freeport-McMoRan

A number of hedge funds have recently modified their holdings of FCX. Jupiter Topco LLC purchased a new position in shares of Freeport-McMoRan during the 2nd quarter worth $739,890,000. Bank of America Corp DE increased its position in Freeport-McMoRan by 20.0% during the first 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 last quarter. Janus Henderson Group PLC increased its position in Freeport-McMoRan by 101.2% during the first 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 last quarter. Castle Hook Partners LP purchased a new position in Freeport-McMoRan during the fourth quarter worth about $179,507,000. Finally, Assenagon Asset Management S.A. raised its stake in 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 period. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Freeport-McMoRan

In related news, EVP Douglas Currault, II sold 80,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $78.56, for a total transaction of $6,284,800.00. Following the completion of the sale, the executive vice president directly owned 211,016 shares in the company, valued at approximately $16,577,416.96. The trade was a 27.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lydia Kennard sold 3,798 shares of the stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $79.11, for a total value of $300,459.78. Following the completion of the transaction, the director directly owned 122,702 shares of the company’s stock, valued at approximately $9,706,955.22. This represents a 3.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 110,398 shares of company stock valued at $8,387,271 over the last ninety days. Company insiders own 0.73% of the company’s stock.

Freeport-McMoRan Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Thursday, October 15th will be paid a $0.0750 dividend. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.4%. Freeport-McMoRan’s payout ratio is currently 14.78%.

Freeport-McMoRan Company Profile

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.