Published: Fri, April 21, 2017
Business | By Max Garcia

Freeport-McMoRan Inc (FCX) Bonds Trading 1.4% Higher


Freeport-McMoRan posted earnings per share of ($0.16) in the same quarter last year, which suggests a positive year over year growth rate of 200%. The natural resource company reported $0.25 earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of $0.33 by $0.08. The difference between Actual EPS and Estimated EPS was -0.09 Percent.

Freeport-McMoran (NYSE:FCX) last announced its earnings results on Wednesday, January 25th. Freeport-McMoRan had a positive return on equity of 3.52% and a negative net margin of 28.09%. The business had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.34 billion. The firm's revenue was up 24.5% compared to the same quarter previous year.

The latest deal is expected to allow Freeport to export copper concentrate for six months, while working to reach agreement with the government on the other disputed issues. The share price is trading in a range of $12.27 - 12.64. Its Target Price was fixed at 14.89 at an IPO Date of 07/10/1995. FBR & Co reiterated a "hold" rating and issued a $13.00 target price on shares of Freeport-McMoRan in a research report on Wednesday, April 5th. The stock plunged -16.06 percent over the past quarter, while surged 32.26 percent over the past six months. Finally, Barclays PLC reaffirmed an "equal weight" rating and set a $14.00 price target on shares of Freeport-McMoRan in a report on Monday, January 30th. Out of 3 Wall Street analysts rating Progress Software Corporation, 1 give it "Buy", 0 "Sell" rating, while 2 recommend "Hold". After trading began at $22.92, the stock was seen striking at $23.15 as its peak price and $22.68 as its lowest price.

In related news, Director Jon C/ Madonna sold 14,000 shares of the company's stock in a transaction that occurred on Wednesday, February 1st. Moreover, Deutsche Bank issued Downgrade rating for the stock on 21-Feb-17. Following the sale, the director now owns 61,080 shares in the company, valued at approximately $1,014,538.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Another trade for 2,525 shares valued at $38,425 was sold by WHITMIRE C DONALD JR. (FCX) to Sell with no specific Price Target. The stock is showing its Operating Margin of -18.7 percent. The disclosure for this sale can be found here. EPS ratio determined by looking at last 12 month figures is -3.12.

A number of key analysts, polled by FactSet, shared their views about the current stock momentum. Berenberg Downgrades Freeport-McMoRan Inc. Ancora Inverness LLC acquired a new position in Freeport-McMoran during the third quarter valued at about $115,000. It also operates a portfolio of oil and gas assets comprising oil and natural gas production onshore in South Louisiana; and on the GOM Shelf and oil production offshore California, as well as natural gas production from the Madden area in central Wyoming.

01/26/2017 - Freeport-McMoran Copper & Gold, Inc. had its "sector perform" rating reiterated by analysts at RBC Capital. Independent Investors Inc. boosted its stake in shares of Freeport-McMoRan by 0.5% in the third quarter. Finally, Regal Investment Advisors LLC boosted its stake in shares of Freeport-McMoRan by 1.3% in the third quarter. KS now owns 70,530 shares of the natural resource company's stock worth $766,000 after buying an additional 200 shares during the period. Advantage Investment Management LLC purchased a new stake in Freeport-McMoRan during the fourth quarter worth approximately $117,000. Sumitomo Mitsui Asset Management Company LTD now owns 91,942 shares of the natural resource company's stock worth $998,000 after buying an additional 318 shares during the last quarter.

An issue of Freeport-McMoRan Inc (NYSE:FCX) bonds rose 1.4% against their face value during trading on Thursday. If you are viewing this article on another domain, it was illegally stolen and reposted in violation of global copyright laws. Beech Hill Advisors Inc.'s holdings in Freeport-McMoRan were worth $838,000 at the end of the most recent reporting period.

03/31/2017 - Freeport-McMoran Copper & Gold, Inc. had its "buy" rating reiterated by analysts at Jefferies.

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