Freeport-McMoran, Inc. (NYSE:FCX) had its target price lifted by UBS AG from $13.50 to $14.00 in a report released on Monday morning. They currently have a neutral rating on the natural resource company’s stock.
A number of other brokerages have also commented on FCX. Zacks Investment Research lowered Freeport-McMoran from a hold rating to a sell rating in a research report on Wednesday, July 5th. ValuEngine raised Freeport-McMoran from a hold rating to a buy rating in a research report on Thursday, July 6th. Jefferies Group LLC set a $15.00 target price on Freeport-McMoran and gave the company a buy rating in a research report on Monday, July 10th. Clarkson Capital reaffirmed a neutral rating on shares of Freeport-McMoran in a research report on Monday, July 10th. Finally, Berenberg Bank lowered Freeport-McMoran from a hold rating to a sell rating and set a $10.00 target price for the company. in a research report on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Freeport-McMoran has an average rating of Hold and a consensus target price of $15.54.
Freeport-McMoran (FCX) traded up 0.323% during midday trading on Monday, hitting $13.985. The stock had a trading volume of 11,004,171 shares. Freeport-McMoran has a 52 week low of $10.50 and a 52 week high of $17.06. The company’s 50-day moving average price is $14.41 and its 200 day moving average price is $13.31. The company has a market capitalization of $20.24 billion, a PE ratio of 19.725 and a beta of 2.54.
Freeport-McMoran (NYSE:FCX) last posted its quarterly earnings data on Wednesday, October 25th. The natural resource company reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.03. Freeport-McMoran had a return on equity of 13.35% and a net margin of 6.20%. The firm had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same period last year, the company posted $0.13 EPS. The business’s quarterly revenue was up 11.2% on a year-over-year basis. On average, analysts expect that Freeport-McMoran will post $1.09 EPS for the current year.
In other Freeport-McMoran news, COO Harry M. Iv Conger bought 36,180 shares of the stock in a transaction on Thursday, September 7th. The shares were acquired at an average price of $15.23 per share, with a total value of $551,021.40. Following the acquisition, the chief operating officer now directly owns 73,943 shares of the company’s stock, valued at approximately $1,126,151.89. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.29% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in FCX. IHT Wealth Management LLC boosted its position in Freeport-McMoran by 27.1% during the second quarter. IHT Wealth Management LLC now owns 1,758 shares of the natural resource company’s stock valued at $843,000 after buying an additional 375 shares during the period. Sun Life Financial INC boosted its position in Freeport-McMoran by 96,340.0% during the second quarter. Sun Life Financial INC now owns 9,644 shares of the natural resource company’s stock valued at $116,000 after buying an additional 9,634 shares during the period. First Manhattan Co. boosted its position in Freeport-McMoran by 0.3% during the second quarter. First Manhattan Co. now owns 10,067 shares of the natural resource company’s stock valued at $120,000 after buying an additional 33 shares during the period. Outfitter Advisors LTD. purchased a new stake in Freeport-McMoran during the second quarter valued at about $121,000. Finally, Fisher Asset Management LLC purchased a new stake in Freeport-McMoran during the second quarter valued at about $122,000. 67.95% 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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