Freeport-McMoran, Inc. (NYSE:FCX) Given a $10.00 Price Target at Berenberg Bank
A number of other equities analysts also recently weighed in on the stock. ValuEngine downgraded shares of Freeport-McMoran from a buy rating to a hold rating in a research note on Thursday, July 13th. Clarkson Capital reaffirmed a neutral rating on shares of Freeport-McMoran in a research note on Monday, July 10th. Zacks Investment Research downgraded shares of Freeport-McMoran from a hold rating to a sell rating in a research note on Tuesday, July 11th. Jefferies Group LLC set a $15.00 target price on shares of Freeport-McMoran and gave the stock a buy rating in a research note on Monday, July 10th. Finally, BMO Capital Markets reaffirmed a hold rating and issued a $15.00 target price on shares of Freeport-McMoran in a research note on Thursday, June 29th. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $13.77.
Freeport-McMoran (NYSE FCX) traded down 0.23% during midday trading on Friday, reaching $13.01. 11,718,713 shares of the company traded hands. Freeport-McMoran has a 12 month low of $9.24 and a 12 month high of $17.06. The firm has a market capitalization of $18.82 billion, a price-to-earnings ratio of 69.57 and a beta of 2.55. The firm’s 50 day moving average price is $12.04 and its 200 day moving average price is $13.18.
Freeport-McMoran (NYSE:FCX) last announced its quarterly earnings results on Tuesday, April 25th. The natural resource company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by $0.01. Freeport-McMoran had a net margin of 1.11% and a return on equity of 7.97%. The firm had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.51 billion. During the same period in the prior year, the business earned ($0.16) earnings per share. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. On average, analysts expect that Freeport-McMoran will post $1.01 earnings per share for the current year.
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Hedge funds and other institutional investors have recently modified their holdings of the stock. Acrospire Investment Management LLC purchased a new position in shares of Freeport-McMoran during the first quarter worth about $122,000. Fisher Asset Management LLC purchased a new position in shares of Freeport-McMoran during the second quarter worth about $122,000. Advantage Investment Management LLC boosted its position in shares of Freeport-McMoran by 5.6% in the first quarter. Advantage Investment Management LLC now owns 9,402 shares of the natural resource company’s stock worth $126,000 after buying an additional 500 shares in the last quarter. Atria Investments LLC purchased a new position in shares of Freeport-McMoran during the first quarter worth about $134,000. Finally, Leavell Investment Management Inc. purchased a new position in shares of Freeport-McMoran during the first quarter worth about $134,000. Hedge funds and other institutional investors own 69.46% 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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