Freeport-McMoran, Inc. (NYSE:FCX) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Monday, July 24th.
Several other analysts also recently weighed in on FCX. Jefferies Group LLC lowered their target price on shares of Freeport-McMoran from $16.00 to $14.50 and set a “buy” rating on the stock in a report on Thursday, June 8th. ValuEngine downgraded shares of Freeport-McMoran from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Cowen and Company reissued a “buy” rating on shares of Freeport-McMoran in a report on Tuesday, April 11th. Vetr cut shares of Freeport-McMoran from a “strong-buy” rating to a “buy” rating and set a $14.64 target price for the company. in a research report on Monday, April 10th. Finally, Clarkson Capital restated a “neutral” rating on shares of Freeport-McMoran in a research report on Monday, July 10th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $14.27.
Freeport-McMoran (NYSE FCX) traded down 1.34% on Monday, reaching $13.96. The company’s stock had a trading volume of 19,768,300 shares. Freeport-McMoran has a one year low of $9.24 and a one year high of $17.06. The company has a market capitalization of $20.20 billion, a PE ratio of 19.69 and a beta of 2.59. The firm has a 50-day moving average of $13.24 and a 200-day moving average of $13.11.
Freeport-McMoran (NYSE:FCX) last posted its quarterly earnings data on Tuesday, July 25th. The natural resource company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by $0.04. The business had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.67 billion. Freeport-McMoran had a net margin of 5.97% and a return on equity of 10.45%. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.02) earnings per share. Analysts predict that Freeport-McMoran will post $0.87 EPS for the current year.
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Several institutional investors have recently bought and sold shares of FCX. Dimensional Fund Advisors LP raised its position in Freeport-McMoran by 8.9% in the second quarter. Dimensional Fund Advisors LP now owns 11,521,016 shares of the natural resource company’s stock valued at $138,385,000 after buying an additional 944,896 shares during the period. Virtu KCG Holdings LLC boosted its position in shares of Freeport-McMoran by 108.0% in the second quarter. Virtu KCG Holdings LLC now owns 59,707 shares of the natural resource company’s stock valued at $717,000 after buying an additional 31,001 shares during the last quarter. Baker Avenue Asset Management LP boosted its position in shares of Freeport-McMoran by 501.9% in the second quarter. Baker Avenue Asset Management LP now owns 244,843 shares of the natural resource company’s stock valued at $2,941,000 after buying an additional 204,166 shares during the last quarter. Parametric Portfolio Associates LLC boosted its position in shares of Freeport-McMoran by 39.9% in the second quarter. Parametric Portfolio Associates LLC now owns 5,220,811 shares of the natural resource company’s stock valued at $62,702,000 after buying an additional 1,488,301 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of Freeport-McMoran by 1.3% in the second quarter. Nordea Investment Management AB now owns 57,003 shares of the natural resource company’s stock valued at $685,000 after buying an additional 746 shares during the last quarter. Institutional investors own 69.45% of the company’s stock.
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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