With a market cap of $41.9 billion, Freeport-McMoRan Inc. (FCX) is an international metals company focused on copper and also engaged in the mining of mineral properties. Based in Phoenix, Arizona, the company primarily explores copper, gold, molybdenum, silver, and other metals.
The mining company is expected to release its fiscal Q1 2025 earnings results on Tuesday, Apr. 22. Ahead of this event, analysts expect Freeport-McMoRan to post a profit of $0.25 per share, down 21.9% from $0.32 per share in the previous year's quarter. It has surpassed Wall Street's bottom-line estimates in three of the past four quarters while missing on another occasion. In Q4 2024, FCX exceeded the consensus EPS estimate by 29.2%.
For fiscal 2025, analysts expect FCX to report EPS of $1.64, up 10.8% from $1.48 in fiscal 2024. Moreover, EPS is anticipated to grow 32.3% year-over-year to $2.17 in fiscal 2026.
Shares of FCX have crumbled 40.7% over the past 52 weeks, underperforming the S&P 500 Index's ($SPX) 1.4% dip during the same time frame. The stock also lagged behind the Materials Select Sector SPDR Fund’s (XLB) 15.3% drop over the past year.
On Jan. 23, Freeport-McMoRan posted its Q4 2024 results, and its shares slid 1.5%. FCX’s revenue came in at $5.7 billion, missing the forecasted $5.9 billion. However, profitability saw a boost, with non-GAAP earnings surging 14.8% year-over-year to $0.31, exceeding the consensus estimate of $0.24. For fiscal 2024, the company reported an adjusted net income of $2.1 billion, or $1.48 per share.
Analysts' consensus view on FCX is moderately optimistic, with a "Moderate Buy" rating overall. Among 17 analysts covering the stock, nine suggest a "Strong Buy," two give a "Moderate Buy," and six recommend a "Hold." As of writing, FCX is trading below its mean price target of $48.44.
