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

[Business Wire] – Freeport-McMoRan Inc. announced today that James R. Moffett, Chairman of the Board, co-founder, and long-time executive, will step down from FCX’s Board of Directors and as Executive Chairman. Read more on this. Freeport-McMoRan Inc. (FCX) , with a current value of $8.34B, began trading this morning at $7.33. Shares have traded today between $6.86 and $7.33 per share with the price of the stock fluctuating between $6.08 to $23.97 over the last 52 weeks. FCX shares are currently priced at -94.63x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 29.72x earnings multiple for the same period. In a review of the consensus earnings estimate this quarter, 14 sell-side analysts are looking at $-0.06 per share, which would be $0.25 better than the year-ago quarter and a $0.20 sequential increase. The full-year EPS estimate is $-0.08 which would be a $2.04 setback than last year’s full-year earnings. The quarterly earnings estimate is predicated on a consensus revenue forecast of $4.11 Billion. If reported, that would be a 21.56% decrease over the year-ago quarter. In terms of ratings, Citigroup downgraded FCX from Buy to Neutral (Sep 1, 2015). Previously, Morgan Stanley upgraded FCX from Equal-Weight to Overweight. The average price target for FCX shares is $12.36, which is 68.62% above where the stock opened this morning. See more in (NYSE:FCX) Similar Articles: Market Update: Freeport-McMoRan Copper & Gold Inc (NYSE:FCX) – Freeport-McMoRan Declares Quarterly Cash Dividend on Common Stock Company Update: Freeport-McMoRan Copper & Gold Inc (NYSE:FCX) – Freeport-McMoRan Completes $1 Billion at-the-Market Equity Offering and Files Prospectus Supplement for up to $1 Billion in Additional at-the-Market Sales of Common Stock Company Update: Freeport-McMoRan Copper & Gold Inc (NYSE:FCX) – Freeport Indonesia’s copper shipments fall in August – union