A number of firms have modified their ratings and price targets on shares of Freeport-McMoran (NYSE: FCX) recently:

  • 10/17/2017 – Freeport-McMoran was downgraded by analysts at Deutsche Bank AG from a “hold” rating to a “sell” rating. They now have a $13.00 price target on the stock.
  • 10/11/2017 – Freeport-McMoran was given a new $14.00 price target on by analysts at Royal Bank Of Canada. They now have a “hold” rating on the stock.
  • 10/10/2017 – Freeport-McMoran was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $16.00 price target on the stock. According to Zacks, “Freeport is taking actions to reduce mining costs and manage capital spending amid a still challenging operating environment. The company's cost-cutting actions should lend support to its margins in 2017. Freeport also remains actively focused on deleveraging its balance sheet, partly through assets sale. It is also conducting exploration activities near its existing mines with a focus on opportunities to expand reserves that will support the development of additional future production capacity.”
  • 10/4/2017 – Freeport-McMoran had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $19.00 price target on the stock, down previously from $23.00.
  • 9/15/2017 – Freeport-McMoran is now covered by analysts at CIBC. They set a “sector outperform” rating and a $18.00 price target on the stock.
  • 9/14/2017 – Freeport-McMoran had its “neutral” rating reaffirmed by analysts at FBR & Co. They now have a $12.00 price target on the stock, down previously from $13.00.
  • 9/7/2017 – Freeport-McMoran is now covered by analysts at Macquarie. They set a “neutral” rating and a $16.00 price target on the stock.
  • 9/5/2017 – Freeport-McMoran had its “sell” rating reaffirmed by analysts at Berenberg Bank. They now have a $10.40 price target on the stock.
  • 8/31/2017 – Freeport-McMoran was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 8/29/2017 – Freeport-McMoran had its “buy” rating reaffirmed by analysts at Vertical Research. They now have a $20.00 price target on the stock.
  • 8/29/2017 – Freeport-McMoran was given a new $15.00 price target on by analysts at Stifel Nicolaus. They now have a “hold” rating on the stock.
  • 8/28/2017 – Freeport-McMoran was given a new $18.00 price target on by analysts at Jefferies Group LLC. They now have a “buy” rating on the stock.
  • 8/24/2017 – Freeport-McMoran was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.

Shares of Freeport-McMoran, Inc. (FCX) opened at 14.93 on Wednesday. The stock has a market cap of $21.61 billion, a P/E ratio of 21.06 and a beta of 2.54. Freeport-McMoran, Inc. has a 1-year low of $9.50 and a 1-year high of $17.06. The company’s 50-day moving average is $14.44 and its 200 day moving average is $13.20.

Freeport-McMoran (NYSE:FCX) last posted its quarterly earnings data on Tuesday, July 25th. The natural resource company reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.04). The firm had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.67 billion. Freeport-McMoran had a return on equity of 10.45% and a net margin of 5.97%. Freeport-McMoran’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.02) earnings per share. Equities research analysts anticipate that Freeport-McMoran, Inc. will post $1.00 EPS for the current year.

In other news, COO Harry M. Iv Conger acquired 36,180 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The stock was acquired at an average cost of $15.23 per share, with a total value of $551,021.40. Following the acquisition, the chief operating officer now owns 73,943 shares in the company, valued at $1,126,151.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.29% of the stock is currently owned by corporate insiders.

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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