Freeport-McMoRan Inc. (NYSE:FCX) Receives Consensus Rating of “Hold” from Analysts

Freeport-McMoRan Inc. (NYSE:FCXGet Rating) has been assigned an average rating of “Moderate Buy” from the sixteen brokerages that are presently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $47.31.

A number of equities research analysts recently issued reports on the stock. BMO Capital Markets dropped their price target on shares of Freeport-McMoRan from $62.00 to $56.00 and set an “outperform” rating on the stock in a research note on Friday, April 22nd. Morgan Stanley dropped their price target on shares of Freeport-McMoRan from $39.00 to $30.00 in a research note on Wednesday. StockNews.com raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Tuesday, April 5th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Freeport-McMoRan from $50.00 to $47.00 and set a “hold” rating on the stock in a research note on Friday, April 22nd. Finally, Credit Suisse Group raised shares of Freeport-McMoRan from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $32.00 to $38.00 in a research note on Thursday, June 9th.

Shares of NYSE FCX opened at $31.32 on Friday. The stock has a market capitalization of $45.39 billion, a price-to-earnings ratio of 9.08, a PEG ratio of 0.30 and a beta of 2.02. Freeport-McMoRan has a 12 month low of $30.02 and a 12 month high of $51.99. The firm’s 50 day simple moving average is $39.61 and its 200-day simple moving average is $42.31. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.37 and a quick ratio of 1.68.

Freeport-McMoRan (NYSE:FCXGet Rating) last issued its quarterly earnings data on Thursday, April 21st. The natural resource company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.19. Freeport-McMoRan had a net margin of 20.79% and a return on equity of 24.06%. The business had revenue of $6.60 billion for the quarter, compared to analysts’ expectations of $6.29 billion. During the same quarter last year, the company earned $0.51 EPS. The business’s revenue was up 36.1% on a year-over-year basis. Analysts anticipate that Freeport-McMoRan will post 3.92 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 1st. Stockholders of record on Friday, July 15th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.92%. Freeport-McMoRan’s dividend payout ratio is presently 8.70%.

In related news, Director Dustan E. Mccoy sold 8,200 shares of the business’s stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $39.24, for a total value of $321,768.00. Following the sale, the director now directly owns 134,400 shares in the company, valued at approximately $5,273,856. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Hugh Grant acquired 12,300 shares of Freeport-McMoRan stock in a transaction that occurred on Monday, April 25th. The stock was bought at an average price of $40.75 per share, for a total transaction of $501,225.00. Following the completion of the acquisition, the director now owns 15,776 shares in the company, valued at approximately $642,872. The disclosure for this purchase can be found here. 0.72% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. St. Johns Investment Management Company LLC purchased a new stake in Freeport-McMoRan in the 1st quarter valued at about $25,000. Fairfield Bush & CO. acquired a new position in Freeport-McMoRan in the 1st quarter valued at about $26,000. GHP Investment Advisors Inc. acquired a new position in Freeport-McMoRan in the 1st quarter valued at about $26,000. FNY Investment Advisers LLC grew its position in Freeport-McMoRan by 1,250.0% in the 1st quarter. FNY Investment Advisers LLC now owns 540 shares of the natural resource company’s stock valued at $26,000 after acquiring an additional 500 shares in the last quarter. Finally, Core Alternative Capital grew its position in Freeport-McMoRan by 444.7% in the 1st quarter. Core Alternative Capital now owns 561 shares of the natural resource company’s stock valued at $28,000 after acquiring an additional 458 shares in the last quarter. Hedge funds and other institutional investors own 77.37% of the company’s stock.

Freeport-McMoRan Company Profile (Get Rating)

Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. 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 in Peru and El Abra in Chile.

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Analyst Recommendations for Freeport-McMoRan (NYSE:FCX)

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