Freeport-McMoRan Inc. (NYSE:FCX) Plans $0.07 Quarterly Dividend

Freeport-McMoRan Inc. (NYSE:FCX) announced a quarterly dividend on Wednesday, September 23rd. Investors of record on Thursday, October 15th will be paid a dividend of 0.075 per share by the natural resource company on Monday, November 2nd. This represents a c) annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Thursday, October 15th.

Freeport-McMoRan has raised its dividend payment by an average of 0.6%per year over the last three years. Freeport-McMoRan has a payout ratio of 13.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Freeport-McMoRan to earn $3.76 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 8.0%.

Freeport-McMoRan Trading Down 2.3%

NYSE FCX traded down $1.72 on Wednesday, reaching $72.63. The company had a trading volume of 8,925,013 shares, compared to its average volume of 16,607,674. The firm has a market cap of $104.30 billion, a price-to-earnings ratio of 35.78, a P/E/G ratio of 0.71 and a beta of 1.41. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.07 and a quick ratio of 0.92. Freeport-McMoRan has a fifty-two week low of $35.15 and a fifty-two week high of $80.24. The business has a 50 day moving average of $69.12 and a two-hundred day moving average of $64.91.

Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Thursday, July 23rd. The natural resource company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.62 by $0.12. Freeport-McMoRan had a return on equity of 10.63% and a net margin of 11.39%.The firm had revenue of $7.03 billion for the quarter, compared to the consensus estimate of $6.62 billion. During the same period in the previous year, the business earned $0.54 EPS. The business’s quarterly revenue was down 7.3% compared to the same quarter last year. Analysts forecast that Freeport-McMoRan will post 2.82 EPS for the current year.

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc is a global mining company focused primarily on the exploration, development and production of copper, gold and molybdenum. Copper is its principal product and is used in electrical wiring, construction, transportation, industrial equipment and renewable-energy technologies. The company also produces gold as a byproduct of its copper operations and molybdenum, an alloying metal used in steelmaking and other industrial applications.

Freeport-McMoRan operates major mining and processing assets in North America, South America and Indonesia.