Freeport-McMoran (NYSE:FCX)‘s stock had its “hold” rating restated by research analysts at Royal Bank Of Canada in a research note issued to investors on Tuesday. They presently have a $17.00 target price on the natural resource company’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 20.48% from the stock’s current price.

A number of other equities research analysts have also issued reports on the stock. Jefferies Group set a $18.00 target price on shares of Freeport-McMoran and gave the company a “buy” rating in a research note on Monday, August 28th. Berenberg Bank reissued a “sell” rating and set a $10.40 target price on shares of Freeport-McMoran in a research note on Tuesday, September 5th. ValuEngine raised shares of Freeport-McMoran from a “hold” rating to a “buy” rating in a research note on Thursday, August 31st. Zacks Investment Research raised shares of Freeport-McMoran from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Tuesday, November 14th. Finally, FBR & Co reaffirmed a “hold” rating and issued a $12.00 price objective on shares of Freeport-McMoran in a research note on Thursday, October 26th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Freeport-McMoran presently has an average rating of “Hold” and a consensus target price of $15.71.

Shares of Freeport-McMoran (FCX) traded down $0.19 during trading hours on Tuesday, hitting $14.11. 19,524,848 shares of the company’s stock were exchanged, compared to its average volume of 21,046,332. The firm has a market cap of $20,425.49, a price-to-earnings ratio of 15.51 and a beta of 2.56. Freeport-McMoran has a 52 week low of $11.05 and a 52 week high of $17.06. The company has a quick ratio of 1.32, a current ratio of 2.02 and a debt-to-equity ratio of 1.23.

Freeport-McMoran (NYSE:FCX) last issued its earnings results on Wednesday, October 25th. The natural resource company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. The company had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.06 billion. Freeport-McMoran had a net margin of 6.20% and a return on equity of 13.35%. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last year, the business posted $0.13 EPS. sell-side analysts expect that Freeport-McMoran will post 1.07 earnings per share for the current year.

In other Freeport-McMoran news, COO Harry M. Iv Conger acquired 36,180 shares of Freeport-McMoran stock in a transaction that occurred on Thursday, September 7th. The stock was acquired 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.29% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in FCX. BT Investment Management Ltd acquired a new position in Freeport-McMoran during the 2nd quarter worth $94,821,000. BlueMountain Capital Management LLC lifted its position in Freeport-McMoran by 100.4% during the 2nd quarter. BlueMountain Capital Management LLC now owns 26,461 shares of the natural resource company’s stock worth $318,000 after acquiring an additional 6,651,458 shares during the last quarter. Vanguard Group Inc. lifted its position in Freeport-McMoran by 4.9% during the 2nd quarter. Vanguard Group Inc. now owns 139,502,519 shares of the natural resource company’s stock worth $1,675,425,000 after acquiring an additional 6,510,840 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Freeport-McMoran by 39.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 20,568,631 shares of the natural resource company’s stock worth $247,029,000 after acquiring an additional 5,810,712 shares during the last quarter. Finally, Contrarius Investment Management Ltd lifted its position in Freeport-McMoran by 700.5% during the 2nd quarter. Contrarius Investment Management Ltd now owns 3,543,051 shares of the natural resource company’s stock worth $42,552,000 after acquiring an additional 3,100,466 shares during the last quarter. 68.12% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Freeport-McMoran (NYSE:FCX)

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