B. Riley reiterated their neutral rating on shares of Freeport-McMoRan (NYSE:FCX) in a report released on Thursday, January 18th, MarketBeat reports. The brokerage currently has a $18.00 price objective on the natural resource company’s stock, up from their prior price objective of $16.00. B. Riley also issued estimates for Freeport-McMoRan’s Q4 2017 earnings at $0.48 EPS, FY2017 earnings at $1.13 EPS, Q1 2018 earnings at $0.49 EPS, Q2 2018 earnings at $0.47 EPS, Q3 2018 earnings at $0.41 EPS, Q4 2018 earnings at $0.41 EPS and FY2018 earnings at $1.79 EPS.
A number of other equities analysts have also recently commented on FCX. Jefferies Group reaffirmed a buy rating and issued a $19.00 target price (down from $23.00) on shares of Freeport-McMoRan in a report on Wednesday, October 4th. Zacks Investment Research upgraded Freeport-McMoRan from a hold rating to a buy rating and set a $16.00 price target for the company in a research note on Tuesday, October 10th. Royal Bank of Canada set a $14.00 price target on Freeport-McMoRan and gave the stock a hold rating in a research note on Wednesday, October 11th. Deutsche Bank lowered Freeport-McMoRan from a hold rating to a sell rating and set a $13.00 price target for the company. in a research note on Tuesday, October 17th. Finally, FBR & Co set a $12.00 price target on Freeport-McMoRan and gave the stock a hold rating in a research note on Friday, October 20th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $16.24.
Freeport-McMoRan (NYSE FCX) traded up $0.41 during midday trading on Thursday, hitting $17.57. The stock had a trading volume of 34,621,289 shares, compared to its average volume of 22,610,000. The company has a market cap of $25,430.00, a PE ratio of 14.64 and a beta of 2.48. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.14 and a quick ratio of 1.37. Freeport-McMoRan has a 12-month low of $11.05 and a 12-month high of $20.25.
In other Freeport-McMoRan news, VP C Donald Whitmire, Jr. sold 21,500 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $19.49, for a total value of $419,035.00. Following the completion of 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 legal filing with the SEC, which can be accessed through the SEC website. 1.29% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Suntrust Banks Inc. raised its stake in shares of Freeport-McMoRan by 27.2% during the fourth quarter. Suntrust Banks Inc. now owns 47,265 shares of the natural resource company’s stock valued at $894,000 after acquiring an additional 10,097 shares in the last quarter. Dynamic Advisors Solutions LLC bought a new stake in shares of Freeport-McMoRan during the fourth quarter valued at approximately $595,000. Norinchukin Bank The increased its holdings in Freeport-McMoRan by 7.5% during the fourth quarter. Norinchukin Bank The now owns 107,637 shares of the natural resource company’s stock valued at $2,041,000 after buying an additional 7,487 shares during the period. FDx Advisors Inc. increased its holdings in Freeport-McMoRan by 17.1% during the fourth quarter. FDx Advisors Inc. now owns 35,609 shares of the natural resource company’s stock valued at $675,000 after buying an additional 5,195 shares during the period. Finally, ARP Americas LP increased its holdings in Freeport-McMoRan by 137.0% during the fourth quarter. ARP Americas LP now owns 56,000 shares of the natural resource company’s stock valued at $1,062,000 after buying an additional 32,372 shares during the period. 68.21% of the stock is owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION NOTICE: “B. Riley Reiterates Neutral Rating for Freeport-McMoRan (NYSE:FCX)” was first reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this article on another publication, it was illegally stolen and reposted in violation of United States and international trademark & copyright laws. The legal version of this article can be read at https://stocknewstimes.com/2018/02/11/freeport-mcmoran-fcx-given-neutral-rating-at-b-riley.html.
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.
Receive News & Ratings for Freeport-McMoRan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Freeport-McMoRan and related companies with MarketBeat.com's FREE daily email newsletter.