Freeport-McMoRan Inc (FCX) Given Average Rating of “Hold” by Analysts

Freeport-McMoRan Inc (NYSE:FCX) has been given an average recommendation of “Hold” by the twenty-two analysts that are currently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $16.71.

Several equities analysts have commented on FCX shares. B. Riley dropped their target price on Freeport-McMoRan from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, October 25th. TheStreet downgraded Freeport-McMoRan from a “b-” rating to a “c+” rating in a research report on Monday, November 19th. BMO Capital Markets set a $13.00 target price on Freeport-McMoRan and gave the company a “hold” rating in a research report on Thursday, October 25th. Deutsche Bank set a $15.00 target price on Freeport-McMoRan and gave the company a “hold” rating in a research report on Tuesday, October 2nd. Finally, Raymond James set a $16.00 target price on Freeport-McMoRan and gave the company a “hold” rating in a research report on Wednesday, October 24th.

Freeport-McMoRan stock traded up $0.12 during trading hours on Monday, hitting $11.94. The stock had a trading volume of 17,140,750 shares, compared to its average volume of 16,084,059. The company has a current ratio of 2.84, a quick ratio of 1.78 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $17.13 billion, a PE ratio of 10.21 and a beta of 2.40. Freeport-McMoRan has a one year low of $10.59 and a one year high of $20.25.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Wednesday, October 24th. The natural resource company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.33 by $0.02. The firm had revenue of $4.91 billion during the quarter, compared to the consensus estimate of $4.50 billion. Freeport-McMoRan had a return on equity of 22.63% and a net margin of 15.80%. The business’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period last year, the company earned $0.34 earnings per share. As a group, analysts predict that Freeport-McMoRan will post 1.7 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 1st. Stockholders of record on Monday, October 15th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, October 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.68%. Freeport-McMoRan’s dividend payout ratio (DPR) is 17.09%.

In other news, Director Courtney Mather sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, October 30th. The stock was sold at an average price of $11.15, for a total transaction of $836,250.00. Following the completion of the transaction, the director now directly owns 152,133 shares in the company, valued at $1,696,282.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.05% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Bramshill Investments LLC bought a new stake in Freeport-McMoRan in the third quarter worth approximately $105,000. Belpointe Asset Management LLC bought a new stake in Freeport-McMoRan in the third quarter worth approximately $118,000. United Asset Strategies Inc. bought a new stake in Freeport-McMoRan in the third quarter worth approximately $142,000. Lido Advisors LLC bought a new stake in Freeport-McMoRan in the third quarter worth approximately $142,000. Finally, Fox Run Management L.L.C. bought a new stake in Freeport-McMoRan in the third quarter worth approximately $145,000. Institutional investors own 71.52% of the company’s stock.

About Freeport-McMoRan

Freeport-McMoRan Inc engages in the mining of mineral properties in the United States, Indonesia, Peru, and Chile. The company primarily explores for copper, gold, molybdenum, silver, and other metals, as well as oil and gas. Its assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde and El Abra mines in South America.

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Analyst Recommendations for Freeport-McMoRan (NYSE:FCX)

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