Freeport-McMoRan Inc (FCX) Releases Earnings Results, Misses Expectations By $-0.01 EPS

Freeport-McMoRan Inc (FCX) reported quarterly earnings results on Tuesday, Jul-26-2016. The company reported $-0.02 earnings per share for the quarter, missing the analyst consensus estimate by $-0.01. Analysts had a consensus of $-0.01. The company posted revenue of $3334.00 million in the period, compared to analysts expectations of $3684.28 million. The company’s revenue was down -15.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 EPS.

Many Wall Street Analysts have commented on Freeport-McMoRan Inc. Company shares were Reiterated by FBR Capital on Jul 20, 2016 to “Mkt Perform”, Firm has raised the Price Target to $ 11 from a previous price target of $9 .Goldman Initiated Freeport-McMoRan Inc on May 19, 2016 to “Neutral”, Price Target of the shares are set at $12.Freeport-McMoRan Inc was Upgraded by Jefferies to ” Buy” on May 17, 2016.

Freeport-McMoRan Inc closed down -0.15 points or -1.20% at $12.3 with 3,92,67,735 shares getting traded on Wednesday. Post opening the session at $12.11, the shares hit an intraday low of $11.69 and an intraday high of $12.4 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

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 Company’s 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 Company’s Atlantic Copper smelts and refines copper concentrates and markets refined copper and precious metals in slimes.

Freeport-McMoRan Inc

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