Freeport-McMoran, Inc. (FCX) Given Consensus Rating of “Hold” by Analysts
Freeport-McMoran, Inc. (NYSE:FCX) has been assigned an average recommendation of “Hold” from the twenty-two ratings firms that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $15.76.
A number of research firms recently issued reports on FCX. Jefferies Group LLC set a $18.00 target price on shares of Freeport-McMoran and gave the company a “buy” rating in a research report on Monday, August 28th. Vertical Research restated a “buy” rating and set a $20.00 target price on shares of Freeport-McMoran in a research report on Tuesday, August 29th. BidaskClub upgraded shares of Freeport-McMoran from a “sell” rating to a “hold” rating in a research report on Thursday, August 24th. Deutsche Bank AG downgraded shares of Freeport-McMoran from a “hold” rating to a “sell” rating and set a $13.00 target price for the company. in a research report on Tuesday, October 17th. Finally, Stifel Nicolaus set a $15.00 price objective on shares of Freeport-McMoran and gave the company a “hold” rating in a report on Tuesday, August 29th.
Freeport-McMoran (FCX) traded up 0.14% during midday trading on Friday, hitting $14.83. The stock had a trading volume of 14,307,072 shares. The firm has a market capitalization of $21.46 billion, a P/E ratio of 20.92 and a beta of 2.54. The firm has a 50-day moving average of $14.45 and a 200 day moving average of $13.26. Freeport-McMoran has a 52-week low of $9.85 and a 52-week high of $17.06.
Freeport-McMoran (NYSE:FCX) last posted its earnings results on Tuesday, July 25th. The natural resource company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.04). The business had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.67 billion. Freeport-McMoran had a net margin of 5.97% and a return on equity of 10.45%. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.02) earnings per share. On average, equities analysts forecast that Freeport-McMoran will post $1.02 EPS for the current year.
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In other Freeport-McMoran news, COO Harry M. Iv Conger acquired 36,180 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The stock was bought at an average price of $15.23 per share, with a total value of $551,021.40. Following the purchase, the chief operating officer now owns 73,943 shares in the company, valued at $1,126,151.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.29% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. First Manhattan Co. grew its stake in Freeport-McMoran by 0.3% during the 2nd quarter. First Manhattan Co. now owns 10,067 shares of the natural resource company’s stock valued at $120,000 after acquiring an additional 33 shares in the last quarter. M Holdings Securities Inc. grew its stake in Freeport-McMoran by 1.1% during the 1st quarter. M Holdings Securities Inc. now owns 14,396 shares of the natural resource company’s stock valued at $192,000 after acquiring an additional 150 shares in the last quarter. Sii Investments Inc. WI grew its stake in Freeport-McMoran by 2.3% during the 1st quarter. Sii Investments Inc. WI now owns 13,643 shares of the natural resource company’s stock valued at $182,000 after acquiring an additional 305 shares in the last quarter. IHT Wealth Management LLC grew its stake in Freeport-McMoran by 27.1% during the 2nd quarter. IHT Wealth Management LLC now owns 1,758 shares of the natural resource company’s stock valued at $843,000 after acquiring an additional 375 shares in the last quarter. Finally, Guardian Capital Advisors LP grew its stake in Freeport-McMoran by 1.2% during the 2nd quarter. Guardian Capital Advisors LP now owns 34,254 shares of the natural resource company’s stock valued at $427,000 after acquiring an additional 400 shares in the last quarter. 67.97% 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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