Breaking News Bar

Business News and Information

Market Update: Freeport-McMoRan Copper & Gold Inc (NYSE:FCX) – Freeport-McMoRan Announces New Organizational Structure for Oil & Gas Division

[Business Wire] – Freeport-McMoRan Inc. announced today a new organizational structure for its subsidiary Freeport-McMoRan Oil & Gas . The changes are being undertaken to reduce costs, streamline functions and to enhance capital allocation across FCX’s global business in a manner consistent with FCX’s debt reduction initiatives. Read more on this. Freeport-McMoRan Inc. (FCX) , with a current market cap of $11.66B, started trading this morning at $9.26. Looking at the stock, its one day range is $9.22 to $9.52 and has traded between $3.52 and $23.97 over the past year. FCX shares are currently priced at 78.50x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s -5.33x earnings multiple. In a review of the consensus earnings estimate this quarter, 17 sell-side analysts are looking at $-0.19 per share, which would be $0.00 better than the year-ago quarter and a $0.02 sequential increase. The full-year EPS estimate is $0.12, which would be a $0.20 better than last year. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $3.46 Billion. If realized, that would be a 16.63% decrease over the year-ago quarter. In terms of ratings, BofA/Merrill upgraded FCX from Underperform to Neutral (Mar 1, 2016). Previously, Berenberg Initiated FCX at to Hold. The average price target for FCX shares is $8.09, which is 12.63% below where the stock opened this morning. See more in (NYSE:FCX) Similar Articles: Market Update: Freeport-McMoRan Copper & Gold Inc (NYSE:FCX) – SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Notifies Investors of Class Action Against Freeport-McMoRan Inc. (FCX) and Lead Plaintiff Deadline: March 28, 2016 Market Update: Freeport-McMoRan Copper & Gold Inc (NYSE:FCX) – INVESTOR ALERT: The Law Offices of Vincent Wong Remind Investors of Class Action Involving Freeport-McMoRan Inc. and a Lead Plaintiff Deadline of March 28, 2016 – FCX Company Update: Freeport-McMoRan Copper & Gold Inc (NYSE:FCX) – Freeport-McMoRan Elects Gerald J. Ford Non-Executive Chairman and Names James R. Moffett Chairman Emeritus
Data & News supplied by
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
bottom clear