Freeport-McMoran, Inc. (NYSE:FCX) leader in natural resources, is reporting third quarter earnings results on Thursday 22nd October 2020, before market open.
The consensus estimates from Thomson Reuters are income of $ 0.20 per share.
For the full year, analysts predict revenues of $ 13402.10 million, while looking forward to income of $ 0.35 per share.
Previous Quarter Performance
Freeport-McMoran, Inc. revealed income for the second quarter of $ 0.03 per share, from the revenue of $ 3,054.00 million. The quarterly revenues contracted 13.87 percent compared with the same quarter last year. Street analysts expected Freeport-McMoran, Inc. to report loss of $ 0.03 per share on revenue of $ 3133.63 million for the second quarter. The bottom line results beat street analysts by $ 0.06 or 200.00 percent, at the same time, top line results fell short of analysts by $ 79.63 million or 2.54 percent.
Stock Performance
Shares of Freeport-McMoran, Inc. traded up $ 0.25 or 1.42 percent on Wednesday, reaching $ 17.86 with volume of 15.22 million shares. The stock opened positive for the day at $ 17.74, after closing the previous day trading at $ 17.61.
According to the previous trading day, closing price of $ 17.61, representing a 265.35 % increase from the 52 week low of $ 4.82 and a 3.88 % decrease over the 52 week high of $ 18.32.
The company has a market capital of $ 25.94 billion and is part of the Basic Materials sector and Copper industry.
Recent Analyst recommendations
- On 24th September 2020, upgraded by Morgan Stanley to Overweight from Equal-Weight rating.
Freeport-McMoRan Inc. engages in the mining of mineral properties in North America, South America, and Indonesia. The company primarily explores for copper, gold, molybdenum, silver, and other metals, as well as oil and gas.
