Freeport-McMoran, Inc. (NYSE:FCX) Given Average Rating of “Hold” by Brokerages
Shares of Freeport-McMoran, Inc. (NYSE:FCX) have been given an average rating of “Hold” by the twenty ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $14.09.
A number of analysts have commented on the company. Zacks Investment Research cut Freeport-McMoran from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Jefferies Group LLC restated a “buy” rating and issued a $18.00 price target on shares of Freeport-McMoran in a research report on Thursday, July 27th. Deutsche Bank AG restated a “hold” rating and issued a $13.00 price target (down previously from $14.00) on shares of Freeport-McMoran in a research report on Sunday, June 25th. BidaskClub upgraded Freeport-McMoran from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 27th. Finally, Vetr cut Freeport-McMoran from a “strong-buy” rating to a “buy” rating and set a $14.50 price target for the company. in a research report on Tuesday, April 25th.
Shares of Freeport-McMoran (FCX) traded up 0.34% on Tuesday, reaching $14.75. The company’s stock had a trading volume of 6,444,330 shares. The company has a market capitalization of $21.34 billion, a price-to-earnings ratio of 20.80 and a beta of 2.59. The company’s 50-day moving average is $12.60 and its 200 day moving average is $13.12. Freeport-McMoran has a 12-month low of $9.24 and a 12-month high of $17.06.
Freeport-McMoran (NYSE:FCX) last issued its quarterly earnings results on Tuesday, July 25th. The natural resource company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by $0.04. The company had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.67 billion. Freeport-McMoran had a return on equity of 10.45% and a net margin of 5.97%. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.02) EPS. Equities analysts anticipate that Freeport-McMoran will post $0.87 earnings per share for the current fiscal year.
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Institutional investors have recently made changes to their positions in the stock. First Manhattan Co. raised its position in shares of Freeport-McMoran by 0.3% in the second quarter. First Manhattan Co. now owns 10,067 shares of the natural resource company’s stock worth $120,000 after buying an additional 33 shares during the last quarter. Prospera Financial Services Inc raised its position in shares of 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 worth $140,000 after buying an additional 60 shares during the last quarter. M Holdings Securities Inc. raised its position in shares of 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 worth $192,000 after buying an additional 150 shares during the last quarter. Conning Inc. raised its position in shares of Freeport-McMoran by 0.8% in the first quarter. Conning Inc. now owns 30,081 shares of the natural resource company’s stock worth $402,000 after buying an additional 239 shares during the last quarter. Finally, Sii Investments Inc. WI raised its position in shares of 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 worth $182,000 after buying an additional 305 shares during the last quarter. 69.45% of the stock is owned by 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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