Freeport-McMoRan (FCX) Given New $18.00 Price Target at Stifel Nicolaus

Freeport-McMoRan (NYSE:FCX) had its price objective upped by Stifel Nicolaus from $16.00 to $18.00 in a research report issued on Tuesday, Marketbeat reports. The firm currently has a “hold” rating on the natural resource company’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 0.78% from the company’s previous close.

Several other equities research analysts have also commented on the stock. TheStreet upgraded shares of Freeport-McMoRan from a “c” rating to a “b-” rating in a research note on Thursday, January 25th. Bank of America reiterated an “underperform” rating and set a $16.00 price target (up from $15.00) on shares of Freeport-McMoRan in a research note on Friday, January 26th. CIBC lowered shares of Freeport-McMoRan from a “sector outperform” rating to a “neutral” rating in a research note on Monday, January 22nd. B. Riley reiterated a “neutral” rating and set a $18.00 price target (up from $16.00) on shares of Freeport-McMoRan in a research note on Thursday, January 18th. Finally, Clarkson Capital upgraded shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 17th. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $16.13.

Shares of Freeport-McMoRan (NYSE:FCX) opened at $17.86 on Tuesday. The stock has a market cap of $25,850.00, a price-to-earnings ratio of 14.88 and a beta of 2.48. Freeport-McMoRan has a 1 year low of $11.05 and a 1 year high of $20.25. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.37 and a current ratio of 2.14.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings results on Thursday, January 25th. The natural resource company reported $0.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.02. Freeport-McMoRan had a net margin of 11.08% and a return on equity of 16.57%. The firm had revenue of $5.04 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same period last year, the business earned $0.25 EPS. Freeport-McMoRan’s revenue for the quarter was up 15.2% compared to the same quarter last year. research analysts anticipate that Freeport-McMoRan will post 2 earnings per share for the current year.

In other Freeport-McMoRan news, VP C Donald Whitmire, Jr. sold 21,500 shares of Freeport-McMoRan stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $19.49, for a total value of $419,035.00. Following the transaction, the vice president now directly owns 70,239 shares in the company, valued at $1,368,958.11. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.29% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Thrivent Financial For Lutherans increased its stake in shares of Freeport-McMoRan by 4.2% during the second quarter. Thrivent Financial For Lutherans now owns 50,732 shares of the natural resource company’s stock worth $609,000 after acquiring an additional 2,060 shares during the period. QS Investors LLC increased its stake in shares of Freeport-McMoRan by 25.6% during the second quarter. QS Investors LLC now owns 39,731 shares of the natural resource company’s stock worth $477,000 after acquiring an additional 8,095 shares during the period. Employees Retirement System of Texas increased its stake in shares of Freeport-McMoRan by 11.2% during the second quarter. Employees Retirement System of Texas now owns 109,000 shares of the natural resource company’s stock worth $1,309,000 after acquiring an additional 11,000 shares during the period. Janus Henderson Group PLC increased its stake in shares of Freeport-McMoRan by 418.8% during the second quarter. Janus Henderson Group PLC now owns 828,964 shares of the natural resource company’s stock worth $9,955,000 after acquiring an additional 669,179 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Freeport-McMoRan by 1,482.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 234,200 shares of the natural resource company’s stock worth $2,813,000 after acquiring an additional 219,400 shares during the period. Institutional investors own 68.21% of the company’s stock.

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About Freeport-McMoRan

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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