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A Glimpse of Freeport-McMoRan's Earnings Potential

Freeport-McMoRan (NYSE:FCX) is preparing to release its quarterly earnings on Tuesday, 2024-10-22. Here's a brief overview of what investors should keep in mind before the announcement.

Analysts expect Freeport-McMoRan to report an earnings per share (EPS) of $0.38.

Anticipation surrounds Freeport-McMoRan's announcement, with investors hoping to hear about both surpassing estimates and receiving positive guidance for the next quarter.

New investors should understand that while earnings performance is important, market reactions are often driven by guidance.

Performance in Previous Earnings

In the previous earnings release, the company beat EPS by $0.08, leading to a 2.41% drop in the share price the following trading session.

Here's a look at Freeport-McMoRan's past performance and the resulting price change:

Quarter

Q2 2024

Q1 2024

Q4 2023

Q3 2023

EPS Estimate

0.38

0.27

0.22

0.34

EPS Actual

0.46

0.32

0.27

0.39

Price Change %

-2.0%

1.0%

-1.0%

-4.0%

Freeport-McMoRan Share Price Analysis

Shares of Freeport-McMoRan were trading at $48.18 as of October 18. Over the last 52-week period, shares are up 41.4%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release.

Analyst Views on Freeport-McMoRan

For investors, grasping market sentiments and expectations in the industry is vital. This analysis explores the latest insights regarding Freeport-McMoRan.

Analysts have given Freeport-McMoRan a total of 10 ratings, with the consensus rating being Outperform. The ...