Freeport-McMoRan (NYSE:FCX) had its target price boosted by analysts at Royal Bank of Canada to $22.00 in a research report issued to clients and investors on Monday, The Fly reports. The firm presently has a “sector perform” rating on the natural resource company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 19.37% from the company’s previous close.
FCX has been the topic of a number of other reports. Clarkson Capital upgraded Freeport-McMoRan from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 17th. Zacks Investment Research upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research note on Tuesday, November 14th. B. Riley lifted their target price on Freeport-McMoRan from $13.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, December 11th. Morgan Stanley upgraded Freeport-McMoRan from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $10.00 to $14.00 in a research note on Monday, December 11th. Finally, Scotiabank reiterated a “hold” rating and set a $19.00 target price on shares of Freeport-McMoRan in a research note on Monday, January 8th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $16.75.
Freeport-McMoRan (NYSE:FCX) opened at $18.43 on Monday. 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 has a 52 week low of $11.05 and a 52 week high of $20.25. The firm has a market capitalization of $26,683.77, a price-to-earnings ratio of 14.86 and a beta of 2.42.
In related news, VP C Donald Whitmire, Jr. sold 21,500 shares of the business’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $19.49, for a total value of $419,035.00. Following the sale, the vice president now directly owns 70,239 shares in the company, valued at approximately $1,368,958.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.29% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. First Manhattan Co. grew its holdings in shares of Freeport-McMoRan by 0.3% during the second quarter. First Manhattan Co. now owns 10,067 shares of the natural resource company’s stock worth $120,000 after purchasing an additional 33 shares in the last quarter. Prospera Financial Services Inc grew its holdings in shares of Freeport-McMoRan by 0.6% during the first quarter. Prospera Financial Services Inc now owns 10,491 shares of the natural resource company’s stock worth $140,000 after purchasing an additional 60 shares in the last quarter. Independent Investors Inc. grew its holdings in shares of Freeport-McMoRan by 0.5% during the third quarter. Independent Investors Inc. now owns 14,774 shares of the natural resource company’s stock worth $160,000 after purchasing an additional 74 shares in the last quarter. guardian investment management grew its holdings in shares of Freeport-McMoRan by 0.3% during the first quarter. guardian investment management now owns 38,986 shares of the natural resource company’s stock worth $402,000 after purchasing an additional 121 shares in the last quarter. Finally, Wrapmanager Inc. grew its holdings in shares of Freeport-McMoRan by 0.3% during the fourth quarter. Wrapmanager Inc. now owns 44,895 shares of the natural resource company’s stock worth $592,000 after purchasing an additional 144 shares in the last quarter. 69.84% of the stock is owned by institutional investors and hedge funds.
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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.
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