Freeport-McMoRan Inc (NYSE:FCX) CFO Kathleen L. Quirk acquired 50,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was bought at an average cost of $10.49 per share, with a total value of $524,500.00. Following the purchase, the chief financial officer now owns 920,769 shares in the company, valued at $9,658,866.81. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
FCX opened at $10.61 on Tuesday. Freeport-McMoRan Inc has a twelve month low of $9.47 and a twelve month high of $18.36. The company has a quick ratio of 1.41, a current ratio of 2.79 and a debt-to-equity ratio of 0.56. The firm has a market cap of $15.01 billion, a PE ratio of 6.98 and a beta of 2.27.
Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Thursday, April 25th. The natural resource company reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.03). Freeport-McMoRan had a return on equity of 10.31% and a net margin of 9.09%. The firm had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter last year, the company earned $0.46 earnings per share. The company’s quarterly revenue was down 22.1% compared to the same quarter last year. As a group, research analysts anticipate that Freeport-McMoRan Inc will post 0.46 earnings per share for the current fiscal year.
FCX has been the subject of several analyst reports. Citigroup raised shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and raised their price target for the company from $14.00 to $16.00 in a research note on Tuesday, February 19th. Morgan Stanley downgraded shares of Freeport-McMoRan from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 13th. UBS Group set a $14.00 price target on shares of Freeport-McMoRan and gave the company a “hold” rating in a research note on Friday, April 5th. Zacks Investment Research raised shares of Freeport-McMoRan from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 14th. Finally, Barclays raised their price target on shares of Freeport-McMoRan from $11.00 to $12.00 and gave the company an “underweight” rating in a research note on Tuesday, April 9th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $15.01.
Freeport-McMoRan, Inc engages in the mining of copper, gold, and molybdenum. It operates through the following segments: North America Copper Mines; South America Mining; Indonesia Mining; Molybdenum Mines; Rod and Refining; Atlantic Copper Smelting and Refining; and Corporate, Other, and Eliminations.
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