Recent Investment Analysts’ Ratings Changes for Freeport-McMoRan (FCX)

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

  • 2/6/2018 – Freeport-McMoRan had its price target raised by analysts at Stifel Nicolaus from $16.00 to $18.00. They now have a “hold” rating on the stock.
  • 1/26/2018 – Freeport-McMoRan had its “underperform” rating reaffirmed by analysts at Bank of America Corp. They now have a $16.00 price target on the stock, up previously from $15.00.
  • 1/25/2018 – Freeport-McMoRan was upgraded by analysts at TheStreet from a “c” rating to a “b-” rating.
  • 1/22/2018 – Freeport-McMoRan was downgraded by analysts at CIBC from a “sector outperform” rating to a “neutral” rating.
  • 1/18/2018 – Freeport-McMoRan had its “neutral” rating reaffirmed by analysts at B. Riley. They now have a $18.00 price target on the stock, up previously from $16.00.
  • 1/17/2018 – Freeport-McMoRan was upgraded by analysts at Clarkson Capital from a “neutral” rating to a “buy” rating.
  • 1/9/2018 – Freeport-McMoRan was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Freeport is taking actions to cut mining costs which should lend support to its margins. The company should also gain from efforts to de-leverage its balance sheet. It is also conducting exploration activities near its existing mines with a focus to expand reserves that will support additional future production capacity.  However, Freeport’s copper business remains affected by supply-related issues and slowdown in China. Moreover, the company still faces uncertainties surrounding the Grasberg mine. It is also exposed to a volatile copper pricing environment.”
  • 1/8/2018 – Freeport-McMoRan had its “hold” rating reaffirmed by analysts at Scotiabank. They now have a $19.00 price target on the stock.

Freeport-McMoRan Inc (FCX) traded up $0.19 during trading hours on Monday, reaching $17.76. The company had a trading volume of 2,930,930 shares, compared to its average volume of 22,243,713. The firm has a market capitalization of $25,750.00, a P/E ratio of 14.80 and a beta of 2.48. Freeport-McMoRan Inc has a fifty-two week low of $11.05 and a fifty-two week high of $20.25. The company has a quick ratio of 1.37, a current ratio of 2.14 and a debt-to-equity ratio of 1.04.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Thursday, January 25th. The natural resource company reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.02. The company had revenue of $5.04 billion during 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.25 earnings per share. analysts expect that Freeport-McMoRan Inc will post 2.2 earnings per share for the current fiscal year.

In related 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 stock was sold at an average price of $19.49, for a total transaction of $419,035.00. Following the sale, the vice president now owns 70,239 shares of the company’s stock, valued at $1,368,958.11. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.29% of the stock is owned by 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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