Freeport-McMoRan (NYSE:FCX – Get Free Report) posted its quarterly earnings data on Tuesday. The natural resource company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.01, Briefing.com reports. Freeport-McMoRan had a net margin of 7.83% and a return on equity of 7.60%. The business had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $6.45 billion. During the same quarter in the previous year, the business posted $0.39 earnings per share. The business’s revenue was up 16.6% compared to the same quarter last year.
Freeport-McMoRan Stock Down 2.3 %
Shares of FCX stock traded down $1.08 during mid-day trading on Thursday, hitting $46.84. 10,114,831 shares of the stock traded hands, compared to its average volume of 13,089,940. The stock has a market cap of $67.29 billion, a P/E ratio of 41.45, a P/E/G ratio of 2.03 and a beta of 1.90. The stock’s fifty day moving average is $45.86 and its two-hundred day moving average is $47.86. Freeport-McMoRan has a 52-week low of $32.83 and a 52-week high of $55.24. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.40 and a quick ratio of 1.34.
Freeport-McMoRan Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 15th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend is Tuesday, October 15th. Freeport-McMoRan’s payout ratio is 26.55%.
Analyst Upgrades and Downgrades
Read Our Latest Stock Analysis on FCX
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.
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