Freeport-McMoran, Inc. (NASDAQ:FCX) Expected To Report Earnings On Tuesday

Reuters

Reuters

Freeport-McMoRan's shares were up 84 cents, or nearly 7 percent, to $13.07 in afternoon trading. Also, Director Jon C/ Madonna sold 14,000 shares of the stock in a transaction that occurred on Wednesday, February 1st. Freeport-McMoRan is definitely one of them. "The company can now collect its license", said Trade Ministry's oversea trade directorate general Oke Nurwan as reported by tempo.co on Tuesday.

Relative strength index (RSI-14) for Freeport-McMoRan Inc (NYSE:FCX) is at 36.93.

Investors and Traders continue to monitor technical levels of shares of Freeport-McMoRan Inc.

Comparatively, Freeport-McMoRan Inc. posted earnings of $0.26 per share in the same quarter past year. Freeport-McMoRan has a 52-week low of $9.24 and a 52-week high of $17.06. For the quarter, shares are performing at -22.20%. Freeport-McMoRan has a consensus rating of "Hold" and an average price target of $13.73. Analyst's mean target price for FCX is $14.89 while analysts mean recommendation is 2.90. This is the price at which the trader or investor wants to exit his existing position so he can realize the most reward. The stock's current distance from 20-Day Simple Moving Average (SMA20) is -5.63% where SMA50 and SMA200 are -8.24% and -5.28% respectively. The firm's stock has a market capitalization of $17.45 bln. I tend to agree with the market and I expect that Freeport-McMoRan will find strong support above $12 unless copper prices dive below $2.50 per pound or we hear bad news from Indonesia. The Return on Equity ratio of Freeport-McMoRan Inc. The Higher end of the revenue forecast is $4.28 Billion, while the Lower end of the forecast is $3.04 Billion. For the last period, the company reported quarter over quarter EPS growth of 106.50% and quarter over quarter sales growth of 24.50%. The company had Year Ago Sales of 3.53 Billion. Royal Bank of Canada reissued a "hold" rating and issued a $17.00 price objective on shares of Freeport-McMoRan in a research note on Wednesday, April 19th. The brokerage now has a $14.00 price target on the natural resource company's stock. Following the completion of the transaction, the director now directly owns 61,080 shares in the company, valued at $1,014,538.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. A rating of 4 or 5 would indicate a Sell. The shares were sold at an average price of $15.24, for a total transaction of $1,181,100.00. After a recent check, company stock has been trading near the $12.40 mark. The disclosure for this sale can be found here. Growth in EPS is an important measure of management performance because it shows how much money the company is making for it's shareholders, not only due to changes in profit, but also after all the effects of issuance of new shares (this is especially important when the growth comes as a result of acquisition).

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