Recent Investment Analysts’ Ratings Changes for Freeport-McMoran (FCX)

A number of research firms have changed their ratings and price targets for Freeport-McMoran (NYSE: FCX):

  • 7/13/2017 – Freeport-McMoran was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 7/12/2017 – Freeport-McMoran was downgraded by analysts at Berenberg Bank from a “hold” rating to a “sell” rating. They now have a $10.00 price target on the stock.
  • 7/11/2017 – Freeport-McMoran was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Estimates for Freeport for second-quarter 2017 have been going down of late. Freeport’s copper business is affected by supply-related issues and slowdown in China (a major market). Moreover, the company faces uncertainties surrounding the Grasberg mine in Indonesia. It is also exposed to a volatile copper pricing environment. Prices of the metal are expected to remain under pressure in second-half 2017 on concerns over an economic slowdown in China. Freeport has also underperformed the Zacks categorized Mining-Non Ferrous industry over the past six months.”
  • 7/10/2017 – Freeport-McMoran had its “neutral” rating reaffirmed by analysts at Clarkson Capital.
  • 7/10/2017 – Freeport-McMoran was given a new $15.00 price target on by analysts at Jefferies Group LLC. They now have a “buy” rating on the stock.
  • 7/6/2017 – Freeport-McMoran was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 7/5/2017 – Freeport-McMoran was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Estimates for Freeport for second-quarter 2017 have been going down of late. Freeport’s copper business is affected by supply-related issues and slowdown in China (a major market). Moreover, the company faces uncertainties surrounding the Grasberg mine in Indonesia. It is also exposed to a volatile copper pricing environment. Prices of the metal are expected to remain under pressure in second-half 2017 on concerns over an economic slowdown in China. Freeport has also underperformed the Zacks categorized Mining-Non Ferrous industry over the past six months.”
  • 6/29/2017 – Freeport-McMoran had its “hold” rating reaffirmed by analysts at BMO Capital Markets. They now have a $15.00 price target on the stock.
  • 6/27/2017 – Freeport-McMoran was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 6/25/2017 – Freeport-McMoran had its “hold” rating reaffirmed by analysts at Deutsche Bank AG. They now have a $13.00 price target on the stock, down previously from $14.00.
  • 6/8/2017 – Freeport-McMoran had its price target lowered by analysts at Jefferies Group LLC from $16.00 to $14.50. They now have a “buy” rating on the stock.

Shares of Freeport-McMoran, Inc. (NYSE:FCX) opened at 13.00 on Tuesday. Freeport-McMoran, Inc. has a 12 month low of $9.24 and a 12 month high of $17.06. The stock has a market cap of $18.81 billion, a P/E ratio of 69.52 and a beta of 2.55. The company has a 50 day moving average of $11.71 and a 200 day moving average of $13.34.

Freeport-McMoran (NYSE:FCX) last released its quarterly earnings data on Tuesday, April 25th. The natural resource company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.16 by $0.01. Freeport-McMoran had a return on equity of 7.97% and a net margin of 1.11%. The firm had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.51 billion. During the same period in the previous year, the business earned ($0.16) EPS. The firm’s revenue was down 5.3% compared to the same quarter last year. Equities research analysts expect that Freeport-McMoran, Inc. will post $0.99 earnings per share for the current fiscal year.

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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