Freeport-McMoran, Inc. (NYSE:FCX) has been given a $17.00 target price by stock analysts at BMO Capital Markets in a research report issued on Wednesday. The brokerage currently has a “hold” rating on the natural resource company’s stock. BMO Capital Markets’ target price would indicate a potential upside of 17.24% from the stock’s previous close.
A number of other equities research analysts have also recently weighed in on FCX. Jefferies Group LLC lifted their price objective on shares of Freeport-McMoran to $16.00 and gave the company a “buy” rating in a research note on Tuesday, March 28th. FBR & Co restated a “market perform” rating and set a $13.00 price objective on shares of Freeport-McMoran in a research note on Tuesday, March 28th. Vetr cut shares of Freeport-McMoran from a “strong-buy” rating to a “buy” rating and set a $14.64 price objective on the stock. in a research note on Monday, April 10th. Cowen and Company restated a “buy” rating on shares of Freeport-McMoran in a research note on Tuesday, April 11th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $17.00 price objective on shares of Freeport-McMoran in a research note on Wednesday, April 19th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Freeport-McMoran presently has a consensus rating of “Hold” and a consensus target price of $14.27.
Freeport-McMoran (NYSE FCX) opened at 14.503 on Wednesday. The firm has a market capitalization of $20.98 billion, a PE ratio of 77.556 and a beta of 2.55. Freeport-McMoran has a 1-year low of $9.24 and a 1-year high of $17.06. The stock’s 50 day moving average is $12.41 and its 200-day moving average is $13.17. Freeport-McMoran also was the target of some unusual options trading activity on Tuesday. Stock investors acquired 41,703 put options on the company. This represents an increase of 283% compared to the average volume of 10,892 put options.
Freeport-McMoran (NYSE:FCX) last issued its quarterly earnings data on Tuesday, July 25th. The natural resource company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by $0.04. Freeport-McMoran had a net margin of 5.97% and a return on equity of 10.45%. The company had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.67 billion. During the same quarter in the prior year, the firm earned ($0.02) earnings per share. Freeport-McMoran’s revenue for the quarter was up 11.3% compared to the same quarter last year. Equities research analysts forecast that Freeport-McMoran will post $0.91 EPS for the current year.
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A number of institutional investors have recently modified their holdings of the company. Acrospire Investment Management LLC bought a new position in shares of Freeport-McMoran during the first quarter worth $122,000. Advantage Investment Management LLC boosted its position in shares of Freeport-McMoran by 5.6% in the first quarter. Advantage Investment Management LLC now owns 9,402 shares of the natural resource company’s stock worth $126,000 after buying an additional 500 shares in the last quarter. Atria Investments LLC bought a new position in shares of Freeport-McMoran during the first quarter worth $134,000. Leavell Investment Management Inc. bought a new position in shares of Freeport-McMoran during the first quarter worth $134,000. Finally, Fisher Asset Management LLC bought a new position in shares of Freeport-McMoran during the second quarter worth $122,000. 69.48% of the stock is currently owned by hedge funds and other institutional investors.
Freeport-McMoran Company Profile
Freeport-McMoRan Inc (FCX) is a mining company. The Company operates through geographical assets with proven and probable reserves of copper, gold and molybdenum, and traded copper producer. The Company’s segments include refined copper products, copper in concentrate, gold, molybdenum, oil and other.
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