Royal Bank Of Canada reissued their hold rating on shares of Freeport-McMoran (NYSE:FCX) in a research note issued to investors on Tuesday. They currently have a $17.00 price target on the natural resource company’s stock.
FCX has been the topic of several other research reports. ValuEngine upgraded shares of Freeport-McMoran from a hold rating to a buy rating in a research report on Thursday, August 31st. Zacks Investment Research upgraded shares of Freeport-McMoran from a hold rating to a buy rating and set a $16.00 price target on the stock in a research report on Tuesday, October 10th. FBR & Co reiterated a neutral rating and set a $12.00 price target (down previously from $13.00) on shares of Freeport-McMoran in a research report on Thursday, September 14th. Jefferies Group reiterated a buy rating and set a $19.00 price target (down previously from $23.00) on shares of Freeport-McMoran in a research report on Wednesday, October 4th. Finally, Raymond James Financial started coverage on shares of Freeport-McMoran in a research report on Tuesday, August 15th. They set a market perform rating and a $15.00 price target on the stock. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $15.57.
Shares of Freeport-McMoran (NYSE:FCX) traded up $0.11 during trading hours on Tuesday, hitting $14.95. 7,845,719 shares of the stock traded hands, compared to its average volume of 21,051,367. Freeport-McMoran has a 52 week low of $11.05 and a 52 week high of $17.06. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.02 and a quick ratio of 1.32. The firm has a market cap of $20,772.92, a P/E ratio of 15.77 and a beta of 2.56.
Large investors have recently made changes to their positions in the business. Sun Life Financial INC increased its stake in shares of Freeport-McMoran by 96,340.0% in the 2nd quarter. Sun Life Financial INC now owns 9,644 shares of the natural resource company’s stock valued at $116,000 after acquiring an additional 9,634 shares during the last quarter. First Manhattan Co. increased its stake in shares of Freeport-McMoran by 0.3% in the 2nd quarter. First Manhattan Co. now owns 10,067 shares of the natural resource company’s stock valued at $120,000 after acquiring an additional 33 shares during the last quarter. Outfitter Advisors LTD. bought a new stake in shares of Freeport-McMoran in the 2nd quarter valued at about $121,000. Partnervest Advisory Services LLC bought a new stake in shares of Freeport-McMoran in the 2nd quarter valued at about $123,000. Finally, United Asset Strategies Inc. bought a new stake in shares of Freeport-McMoran in the 2nd quarter valued at about $127,000. 68.12% of the stock is owned by hedge funds and other institutional investors.
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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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