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Company Update: Freeport-McMoRan Copper & Gold Inc (NYSE:FCX) – Quaterra Announces Agreement With Freeport-McMoRan Nevada LLC to Extend Funding of Yerington Copper Project, Nevada

[Marketwired] – Quaterra Resources Inc. and its subsidiary Singatse Peak Services LLC today announced they have reached an agreement with Freeport-McMoRan Nevada LLC to extend the current Stage 2 of Freeport… Read more on this. Freeport-McMoRan Inc. (FCX) , currently valued at $13.31B, opened at $10.25. Looking at today’s market, FCX one day range is $10.24 to $10.71 and has traded between $3.52 and $21.17 over the past 12 months. Priced at 19.55x this year’s forecasted earnings, FCX shares are relatively expensive compared to the industry’s -5.42x forward p/e ratio. In a review of the consensus earnings estimate this quarter, 16 sell-side analysts are looking at $-0.02 per share, which would be $0.14 better than the year-ago quarter and a $0.00 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $0.53 would be a $0.61 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $3.71 Billion. If reported, that would be a 12.71% decrease over the year-ago quarter. In terms of ratings, Goldman Initiated FCX at Neutral (May 19, 2016). Previously, Jefferies upgraded FCX from Hold to Buy. The average price target for FCX shares by the analysts covering the stock is $10.91, which is 6.44% above where the stock opened this morning. See more in (NYSE:FCX) Similar Articles: Company Update: Freeport-McMoRan Copper & Gold Inc (NYSE:FCX) – Freeport-McMoRan Completes Sale of 13% Interest in Morenci Mine for $1.0 Billion in Cash Market Update: Freeport-McMoRan Copper & Gold Inc (NYSE:FCX) – The Only Number That Matters to Freeport-McMoRan Inc. Investors Right Now Market Update: Freeport-McMoRan Copper & Gold Inc (NYSE:FCX) – Freeport-McMoRan Announces New Organizational Structure for Oil & Gas Division
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