Freeport-McMoRan Inc (NYSE: FCX) has reported E.P.S. of $0.42 for its second fiscal quarter (ending June 30) versus $0.24 for the same period a year ago — an increase of 75%. Relative to the consensus estimate of $0.40, this was a premium of $0.02. For the latest four quarters through June 30, E.P.S. were $1.33 compared to $1.47 a year ago — a decline of -10%.
Recent Price Action
On 7/23/24, Freeport-McMoRan Inc (NYSE: FCX) stock declined modestly by -1.6%, closing at $45.27. Moreover, this decline was accompanied by unusually high trading volume at 150% of normal. The stock has declined -10.2% during the last week but has been exceptionally strong relative to the market over the last nine months.
Current PriceTarget Research Rating
With future capital returns forecasted to exceed the cost of capital, FCX is expected to continue to be an important Value Builder.
Freeport-McMoRan has a current Value Trend Rating of B (Positive). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing inconsistent signals. Freeport-McMoRan has a neutral Appreciation Score of 48 but a very high Power Rating of 85, triggering the Positive Value Trend Rating.
Rating Review
In light of this encouraging new earnings information we are reviewing our current Overall Rating of B. This review will be completed in the next several days.
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