Freeport-McMoRan Inc (NYSE:FCX) – Equities researchers at Jefferies Group lifted their FY2018 EPS estimates for Freeport-McMoRan in a research report issued to clients and investors on Wednesday. Jefferies Group analyst C. Lafemina now expects that the natural resource company will earn $2.29 per share for the year, up from their previous estimate of $2.27. Jefferies Group also issued estimates for Freeport-McMoRan’s FY2019 earnings at $1.95 EPS.
Other equities analysts also recently issued research reports about the company. B. Riley reaffirmed a “neutral” rating on shares of Freeport-McMoRan in a research report on Wednesday, November 1st. TheStreet upgraded shares of Freeport-McMoRan from a “c” rating to a “b-” rating in a research report on Thursday, January 25th. Deutsche Bank downgraded shares of Freeport-McMoRan from a “hold” rating to a “sell” rating and set a $13.00 target price on the stock. in a research report on Tuesday, October 17th. Zacks Investment Research downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. Finally, CIBC downgraded shares of Freeport-McMoRan from a “sector outperform” rating to a “neutral” rating in a research report on Monday, January 22nd. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $16.13.
Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Thursday, January 25th. The natural resource company reported $0.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.02. The company had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $4.89 billion. Freeport-McMoRan had a return on equity of 16.57% and a net margin of 11.08%. Freeport-McMoRan’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.25 EPS.
In other news, VP C Donald Whitmire, Jr. sold 21,500 shares of the business’s stock in a transaction that occurred 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 owns 70,239 shares in the company, valued at approximately $1,368,958.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.29% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Harel Insurance Investments & Financial Services Ltd. bought a new position in Freeport-McMoRan during the third quarter valued at approximately $140,000. Rothschild Investment Corp IL purchased a new stake in shares of Freeport-McMoRan during the 3rd quarter worth approximately $147,000. Belpointe Asset Management LLC purchased a new stake in shares of Freeport-McMoRan during the 3rd quarter worth approximately $150,000. Fox Run Management L.L.C. purchased a new stake in shares of Freeport-McMoRan during the 3rd quarter worth approximately $163,000. Finally, Americafirst Capital Management LLC purchased a new stake in shares of Freeport-McMoRan during the 3rd quarter worth approximately $170,000. Institutional investors own 68.21% of the company’s stock.
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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