Freeport-McMoran, Inc. (NYSE:FCX) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Monday, July 24th.
A number of other research analysts also recently issued reports on FCX. ValuEngine downgraded shares of Freeport-McMoran from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Jefferies Group LLC set a $15.00 target price on shares of Freeport-McMoran and gave the company a “buy” rating in a research report on Monday, July 10th. Cowen and Company reiterated a “buy” rating on shares of Freeport-McMoran in a research report on Tuesday, April 11th. Vetr downgraded shares of Freeport-McMoran from a “strong-buy” rating to a “buy” rating and set a $14.64 target price on the stock. in a research report on Monday, April 10th. Finally, Clarkson Capital restated a “neutral” rating on shares of Freeport-McMoran in a research note on Monday, July 10th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $14.27.
Shares of Freeport-McMoran (NYSE:FCX) traded up 0.28% during midday trading on Monday, hitting $14.41. 14,822,840 shares of the stock traded hands. The firm has a 50-day moving average price of $12.60 and a 200-day moving average price of $13.12. The stock has a market capitalization of $20.85 billion, a P/E ratio of 20.32 and a beta of 2.59. Freeport-McMoran has a 52 week low of $9.24 and a 52 week high of $17.06.
Freeport-McMoran (NYSE:FCX) last released its earnings results on Tuesday, July 25th. The natural resource company reported $0.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by $0.04. Freeport-McMoran had a net margin of 5.97% and a return on equity of 10.45%. The company had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same quarter in the previous year, the firm earned ($0.02) EPS. The firm’s revenue was up 11.3% on a year-over-year basis. On average, equities analysts predict that Freeport-McMoran will post $0.87 earnings per share for the current fiscal year.
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Hedge funds have recently bought and sold shares of the company. First Manhattan Co. raised its stake in Freeport-McMoran by 0.3% in the second quarter. First Manhattan Co. now owns 10,067 shares of the natural resource company’s stock valued at $120,000 after buying an additional 33 shares during the last quarter. Prospera Financial Services Inc raised its stake in Freeport-McMoran by 0.6% in the first quarter. Prospera Financial Services Inc now owns 10,491 shares of the natural resource company’s stock valued at $140,000 after buying an additional 60 shares during the last quarter. M Holdings Securities Inc. raised its stake in Freeport-McMoran by 1.1% in the first quarter. M Holdings Securities Inc. now owns 14,396 shares of the natural resource company’s stock valued at $192,000 after buying an additional 150 shares during the last quarter. Conning Inc. raised its stake in Freeport-McMoran by 0.8% in the first quarter. Conning Inc. now owns 30,081 shares of the natural resource company’s stock valued at $402,000 after buying an additional 239 shares during the last quarter. Finally, Sii Investments Inc. WI raised its stake in Freeport-McMoran by 2.3% in the first quarter. Sii Investments Inc. WI now owns 13,643 shares of the natural resource company’s stock valued at $182,000 after buying an additional 305 shares during the last quarter. Hedge funds and other institutional investors own 69.57% 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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