Freeport-McMoran, Inc. (NYSE:FCX) was the target of unusually large options trading on Tuesday. Investors purchased 90,183 call options on the stock. This represents an increase of approximately 423% compared to the average daily volume of 17,227 call options.

FCX has been the subject of several recent research reports. FBR & Co reiterated a “market perform” rating and set a $13.00 price target (up previously from $12.00) on shares of Freeport-McMoran in a report on Thursday. BMO Capital Markets reiterated a “hold” rating and set a $15.00 price target on shares of Freeport-McMoran in a report on Thursday, June 29th. BidaskClub upgraded Freeport-McMoran from a “sell” rating to a “hold” rating in a report on Monday. Clarkson Capital reiterated a “neutral” rating on shares of Freeport-McMoran in a report on Monday, July 10th. Finally, Berenberg Bank set a $10.00 price target on Freeport-McMoran and gave the stock a “sell” rating in a report on Saturday, July 22nd. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $14.27.

Freeport-McMoran (NYSE:FCX) opened at 14.50 on Friday. The stock’s 50 day moving average price is $12.40 and its 200 day moving average price is $13.17. The company has a market cap of $20.98 billion, a P/E ratio of 77.54 and a beta of 2.55. Freeport-McMoran has a 1-year low of $9.24 and a 1-year high of $17.06.

Freeport-McMoran (NYSE:FCX) last issued its quarterly earnings data on Tuesday, July 25th. The natural resource company reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by $0.04. Freeport-McMoran had a return on equity of 10.45% and a net margin of 5.97%. The firm had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.67 billion. During the same period in the previous year, the firm earned ($0.02) EPS. The business’s revenue was up 11.3% on a year-over-year basis. On average, equities analysts anticipate that Freeport-McMoran will post $0.97 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Prospera Financial Services Inc raised its stake in Freeport-McMoran by 0.6% in the first quarter. Prospera Financial Services Inc now owns 10,491 shares of the natural resource company’s stock valued at $140,000 after buying an additional 60 shares in the last quarter. M Holdings Securities Inc. raised its stake in Freeport-McMoran by 1.1% in the first quarter. M Holdings Securities Inc. now owns 14,396 shares of the natural resource company’s stock valued at $192,000 after buying an additional 150 shares in the last quarter. Conning Inc. raised its stake in Freeport-McMoran by 0.8% in the first quarter. Conning Inc. now owns 30,081 shares of the natural resource company’s stock valued at $402,000 after buying an additional 239 shares in the last quarter. Sii Investments Inc. WI raised its stake in Freeport-McMoran by 2.3% in the first quarter. Sii Investments Inc. WI now owns 13,643 shares of the natural resource company’s stock valued at $182,000 after buying an additional 305 shares in the last quarter. Finally, Sprott Inc. raised its stake in Freeport-McMoran by 2.6% in the first quarter. Sprott Inc. now owns 14,777 shares of the natural resource company’s stock valued at $197,000 after buying an additional 375 shares in the last quarter. 69.48% of the stock is owned by institutional investors and hedge funds.

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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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