Freeport-McMoran, Inc. (FCX) Given Consensus Rating of “Hold” by Brokerages
Shares of Freeport-McMoran, Inc. (NYSE:FCX) have been given a consensus recommendation of “Hold” by the twenty-three research firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $15.54.
FCX has been the subject of several analyst reports. Berenberg Bank set a $10.00 target price on Freeport-McMoran and gave the stock a “sell” rating in a research report on Saturday, July 22nd. BidaskClub upgraded Freeport-McMoran from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. BMO Capital Markets set a $17.00 target price on Freeport-McMoran and gave the stock a “hold” rating in a research report on Wednesday, July 26th. Cowen and Company raised their target price on Freeport-McMoran from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. Finally, Jefferies Group LLC restated a “buy” rating and set a $18.00 target price on shares of Freeport-McMoran in a research report on Thursday, July 27th.
In related news, COO Harry M. Iv Conger acquired 36,180 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The stock was acquired at an average cost of $15.23 per share, with a total value of $551,021.40. Following the completion of the purchase, the chief operating officer now directly owns 73,943 shares in the company, valued at $1,126,151.89. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.29% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Fisher Asset Management LLC bought a new position in Freeport-McMoran during the second quarter worth about $122,000. State of Alaska Department of Revenue lifted its holdings in Freeport-McMoran by 81.7% during the second quarter. State of Alaska Department of Revenue now owns 30,226 shares of the natural resource company’s stock worth $363,000 after acquiring an additional 13,590 shares in the last quarter. Eqis Capital Management Inc. lifted its holdings in Freeport-McMoran by 5.9% during the second quarter. Eqis Capital Management Inc. now owns 13,144 shares of the natural resource company’s stock worth $158,000 after acquiring an additional 731 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in Freeport-McMoran by 102.4% during the second quarter. Oregon Public Employees Retirement Fund now owns 281,224 shares of the natural resource company’s stock worth $3,378,000 after acquiring an additional 142,300 shares in the last quarter. Finally, LS Investment Advisors LLC lifted its holdings in Freeport-McMoran by 5.1% during the second quarter. LS Investment Advisors LLC now owns 36,056 shares of the natural resource company’s stock worth $433,000 after acquiring an additional 1,740 shares in the last quarter. 69.09% of the stock is owned by institutional investors and hedge funds.
ILLEGAL ACTIVITY NOTICE: This report was reported by Daily Political and is the property of of Daily Political. If you are reading this report on another website, it was illegally stolen and republished in violation of U.S. & international copyright law. The correct version of this report can be read at https://www.dailypolitical.com/2017/11/16/freeport-mcmoran-inc-fcx-given-consensus-rating-of-hold-by-brokerages.html.
Shares of Freeport-McMoran (FCX) traded down $0.01 during mid-day trading on Thursday, hitting $13.62. The company’s stock had a trading volume of 1,548,092 shares, compared to its average volume of 21,498,537. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.02 and a quick ratio of 1.32. Freeport-McMoran has a 52 week low of $11.05 and a 52 week high of $17.06. The company has a market cap of $19,730.00, a P/E ratio of 15.16 and a beta of 2.55.
Freeport-McMoran (NYSE:FCX) last announced its quarterly earnings data on Wednesday, October 25th. The natural resource company reported $0.34 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.03. Freeport-McMoran had a return on equity of 13.35% and a net margin of 6.20%. The company had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter last year, the company earned $0.13 EPS. The company’s quarterly revenue was up 11.2% on a year-over-year basis. equities analysts expect that Freeport-McMoran will post 1.07 EPS for the current year.
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.
Receive News & Ratings for Freeport-McMoran Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Freeport-McMoran Inc. and related companies with MarketBeat.com's FREE daily email newsletter.