Background: McMoRan Exploration engages in the exploration, development, and production of oil and natural gas in the shallow waters of the Gulf of Mexico and onshore in the Gulf Coast area of the United States. The company was founded in 1994 and is headquartered in New Orleans, Louisiana. McMoRan trades an average of 2.3 million shares per day with a marketcap of $2 billion.
52-Week Range: $7.76 to $16.57Book Value: $10.22 Price to Book: 1.9 Investors aren't expecting an improvement in earnings. Analysts forecast per share results below last year in the same quarter. The earnings release is planned before the market opens on Oct. 19. The consensus estimate is currently a loss of 14 cents a share, abating 8 cents from a loss of 6 cents during the matching period in the previous year. Loss estimates from analysts range from as deep as losing18 cents per share, up to as "little" as a loss of 4 cents per share. Real Money's Henry Schwartz writes about McMoRan in
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