Freeport-McMoran, Inc. (NYSE:FCX) received a $10.00 price objective from equities researchers at Berenberg Bank in a report issued on Saturday. The brokerage currently has a “sell” rating on the natural resource company’s stock. Berenberg Bank’s price target suggests a potential downside of 23.14% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Cowen and Company reiterated a “buy” rating on shares of Freeport-McMoran in a report on Tuesday, April 11th. Vetr lowered shares of Freeport-McMoran from a “strong-buy” rating to a “buy” rating and set a $14.64 target price on the stock. in a report on Monday, April 10th. Jefferies Group LLC reduced their target price on shares of Freeport-McMoran from $16.00 to $14.50 and set a “buy” rating on the stock in a report on Thursday, June 8th. ValuEngine upgraded shares of Freeport-McMoran from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Finally, Deutsche Bank AG restated a “hold” rating and set a $13.00 target price (down previously from $14.00) on shares of Freeport-McMoran in a report on Sunday, June 25th. Five analysts have rated the stock with a sell rating, nine have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $13.77.

Shares of Freeport-McMoran (NYSE FCX) traded down 0.23% during mid-day trading on Friday, reaching $13.01. The company’s stock had a trading volume of 11,718,713 shares. Freeport-McMoran has a 1-year low of $9.24 and a 1-year high of $17.06. The firm’s 50 day moving average price is $12.04 and its 200-day moving average price is $13.18. The company has a market capitalization of $18.82 billion, a price-to-earnings ratio of 69.57 and a beta of 2.55.

Freeport-McMoran (NYSE:FCX) last announced its quarterly earnings results on Tuesday, April 25th. The natural resource company reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.01. The company had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.51 billion. Freeport-McMoran had a net margin of 1.11% and a return on equity of 7.97%. The firm’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter last year, the business earned ($0.16) EPS. On average, analysts predict that Freeport-McMoran will post $1.01 EPS for the current year.

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Several hedge funds have recently modified their holdings of FCX. Acrospire Investment Management LLC bought a new stake in shares of Freeport-McMoran during the first quarter worth $122,000. Advantage Investment Management LLC increased its stake in 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 during the last quarter. Atria Investments LLC acquired a new stake in Freeport-McMoran during the first quarter worth approximately $134,000. Leavell Investment Management Inc. acquired a new stake in Freeport-McMoran during the first quarter worth approximately $134,000. Finally, Fisher Asset Management LLC acquired a new stake in Freeport-McMoran during the second quarter worth approximately $122,000. 69.46% of the stock is owned by institutional investors.

About Freeport-McMoran

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.

Analyst Recommendations for Freeport-McMoran (NYSE:FCX)

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