Freeport-McMoRan (FCX) to Announce Q4 Earnings on January 22, Expected EPS of $0.32
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 16h ago
0mins
Source: seekingalpha
- Earnings Announcement: Freeport-McMoRan is set to release its Q4 earnings on January 22, with Wall Street expecting an EPS of $0.32, reflecting a 3.2% year-over-year increase, while revenue is projected at $5.35 billion, down 6.5% year-over-year.
- Production Challenges: The suspension of operations at the Grasberg mine in Indonesia has led to production setbacks, causing analysts to note that FCX is missing out on peak copper prices, which limits near-term revenue growth and impacts future profitability.
- Performance Record: Over the past two years, FCX has exceeded EPS estimates 100% of the time and revenue estimates 88% of the time, demonstrating the company's resilience and profitability amid market fluctuations.
- Market Response: In the last three months, EPS estimates have seen seven upward revisions and revenue estimates six upward revisions, indicating optimistic market expectations for its future performance, while shares rose nearly 1% on Wednesday.
Analyst Views on FCX
Wall Street analysts forecast FCX stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for FCX is 52.40 USD with a low forecast of 44.00 USD and a high forecast of 68.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
15 Analyst Rating
14 Buy
1 Hold
0 Sell
Strong Buy
Current: 60.070
Low
44.00
Averages
52.40
High
68.00
Current: 60.070
Low
44.00
Averages
52.40
High
68.00
About FCX
Freeport-McMoRan Inc. is an international metals company focused on copper. The Company operates geographically diverse assets with significant proven and probable mineral reserves of copper, gold and molybdenum. The Company's segments include the Morenci and Cerro Verde copper mines, the Indonesia operations (including the Grasberg minerals district and PT-FI’s downstream processing facilities), the Rod & Refining operations and Atlantic Copper Smelting & Refining. Its operations include North America, South America and Indonesia. In North America, it manages seven copper operations: Morenci, Bagdad, Safford (including Lone Star), Sierrita and Miami in Arizona, and Chino and Tyrone in New Mexico, and two molybdenum mines: Henderson and Climax in Colorado. It also operates a copper smelter in Miami, Arizona. In South America, it manages two copper operations: Cerro Verde in Peru and El Abra in Chile. In addition to copper, the Grasberg minerals district also produces gold and silver.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
