Freeport-McMoRan (FCX) PT Set at $17.00 by BMO Capital Markets

Freeport-McMoRan (NYSE:FCX) has been given a $17.00 price target by analysts at BMO Capital Markets in a note issued to investors on Tuesday. The firm presently has a “hold” rating on the natural resource company’s stock. BMO Capital Markets’ price target indicates a potential upside of 5.72% from the company’s current price.

Other equities research analysts have also issued research reports about the company. TheStreet upgraded Freeport-McMoRan from a “c” rating to a “b-” rating in a research report on Thursday, January 25th. Clarkson Capital upgraded Freeport-McMoRan from a “neutral” rating to a “buy” rating in a report on Wednesday, January 17th. Goldman Sachs started coverage on Freeport-McMoRan in a report on Tuesday, March 20th. They issued a “buy” rating and a $23.00 price target on the stock. ValuEngine upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating in a report on Tuesday, February 20th. Finally, Jefferies Group set a $25.00 price target on Freeport-McMoRan and gave the stock a “buy” rating in a report on Monday, April 9th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $17.26.

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Shares of Freeport-McMoRan stock opened at $16.08 on Tuesday. Freeport-McMoRan has a one year low of $11.05 and a one year high of $20.25. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.37 and a current ratio of 2.14. The stock has a market cap of $27,233.95, a P/E ratio of 13.74 and a beta of 2.42.



Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Tuesday, April 24th. The natural resource company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.10). Freeport-McMoRan had a net margin of 11.08% and a return on equity of 16.57%. The business had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $4.92 billion. During the same quarter in the previous year, the company earned $0.15 EPS. The firm’s revenue for the quarter was up 45.7% on a year-over-year basis. equities research analysts expect that Freeport-McMoRan will post 2.32 earnings per share for the current fiscal year.

In other news, VP C Donald Whitmire, Jr. sold 21,500 shares of the firm’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 value of $419,035.00. Following the transaction, the vice president now owns 70,239 shares in the company, valued at $1,368,958.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.29% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Envestnet Asset Management Inc. increased its position in shares of Freeport-McMoRan by 14.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 155,179 shares of the natural resource company’s stock valued at $2,943,000 after acquiring an additional 19,012 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. increased its position in shares of Freeport-McMoRan by 23.0% during the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 47,659 shares of the natural resource company’s stock valued at $904,000 after acquiring an additional 8,900 shares during the last quarter. Banco de Sabadell S.A purchased a new stake in shares of Freeport-McMoRan during the fourth quarter valued at approximately $210,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its position in shares of Freeport-McMoRan by 7,622.9% during the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 1,081,200 shares of the natural resource company’s stock valued at $20,500,000 after acquiring an additional 1,067,200 shares during the last quarter. Finally, Sterling Capital Management LLC purchased a new stake in shares of Freeport-McMoRan during the fourth quarter valued at approximately $428,000. 70.13% of the stock is owned by institutional investors.

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Freeport-McMoRan Company Profile

Freeport-McMoRan Inc engages in the mining of mineral properties in the United States, Indonesia, Peru, and Chile. The company primarily explores for copper, gold, molybdenum, silver, and other metals, as well as oil and gas. Its assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde and El Abra mines in South America.

Analyst Recommendations for Freeport-McMoRan (NYSE:FCX)

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