Freeport-McMoRan Inc (FCX) reported quarterly earnings results on Tuesday, Apr-26-2016. The company reported $-0.16 EPS for the quarter. Analysts had a consensus estimate of $-0.16. The company posted revenue of $3527.00 million in the period, compared to analysts expectations of $3516.19 million. The company’s revenue was down -15.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.06 EPS.
Many Wall Street Analysts have commented on Freeport-McMoRan Inc. Company shares were Reiterated by RBC Capital Mkts on Apr 25, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 12 from a previous price target of $6.50 .Freeport-McMoRan Inc was Downgraded by Credit Agricole to ” Sell” on Apr 19, 2016. Company shares were Reiterated by Deutsche Bank on Apr 8, 2016 to “Hold”, Firm has raised the Price Target to $ 10 from a previous price target of $9 .
Freeport-McMoRan Inc opened for trading at $11.76 and hit $12.05 on the upside on Friday, eventually ending the session at $11.67, with a gain of 1.30% or 0.15 points. The heightened volatility saw the trading volume jump to 5,30,47,819 shares. Company has a market cap of $14,609 M.
In a different news, on Sep 8, 2015, James C Flores (Vice Chairman of the Board) purchased 2,200,000 shares at $9.70 per share price. According to the SEC, on Aug 31, 2015, James R Moffett (Chairman of the Board) purchased 100,000 shares at $10.57 per share price.
Freeport-McMoRan Inc. (FCX) is a natural resource company with an industry portfolio of mineral assets oil and natural gas resources and a production profile. FCX has organized its operations into six primary divisions: North America copper mines South America mining Indonesia mining Africa mining Molybdenum mines and United States oil and gas operations. The Companys portfolio of assets includes the Grasberg minerals district in Indonesia mining operations in North and South America the Tenke Fungurume (Tenke) minerals district in the Democratic Republic of Congo (DRC) in Africa and oil and natural gas assets in North America. The Company is also engaged in operating copper conversion facilities located in North America and a refinery three rod mills and a specialty copper products facility. The Companys Atlantic Copper smelts and refines copper concentrates and markets refined copper and precious metals in slimes.