Freeport-McMoRan Inc (NYSE:FCX) shares rose 3.7% during mid-day trading on Wednesday after Stifel Nicolaus raised their price target on the stock from $16.00 to $18.00. Stifel Nicolaus currently has a hold rating on the stock. Freeport-McMoRan traded as high as $18.79 and last traded at $18.05. Approximately 17,516,231 shares changed hands during mid-day trading, a decline of 19% from the average daily volume of 21,682,682 shares. The stock had previously closed at $18.74.

Other analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a report on Tuesday, October 10th. Royal Bank of Canada set a $14.00 price objective on shares of Freeport-McMoRan and gave the stock a “hold” rating in a report on Wednesday, October 11th. B. Riley set a $13.00 price objective on shares of Freeport-McMoRan and gave the stock a “hold” rating in a report on Wednesday, December 6th. FBR & Co set a $12.00 price objective on shares of Freeport-McMoRan and gave the stock a “hold” rating in a report on Friday, October 20th. Finally, UBS Group raised their price objective on shares of Freeport-McMoRan from $13.50 to $14.00 and gave the stock a “neutral” rating in a report on Monday, October 30th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $16.13.

In other news, VP C Donald Whitmire, Jr. sold 21,500 shares of Freeport-McMoRan stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $19.49, for a total value of $419,035.00. Following the transaction, the vice president now directly owns 70,239 shares of the company’s stock, valued at approximately $1,368,958.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.29% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Freeport-McMoRan in the 3rd quarter valued at $140,000. Rothschild Investment Corp IL acquired a new position in shares of Freeport-McMoRan in the 3rd quarter valued at $147,000. Belpointe Asset Management LLC acquired a new position in shares of Freeport-McMoRan in the 3rd quarter valued at $150,000. Fox Run Management L.L.C. acquired a new position in shares of Freeport-McMoRan in the 3rd quarter valued at $163,000. Finally, Americafirst Capital Management LLC acquired a new position in shares of Freeport-McMoRan in the 3rd quarter valued at $170,000. 68.21% of the stock is currently owned by institutional investors and hedge funds.

The company has a market capitalization of $25,850.00, a price-to-earnings ratio of 14.88 and a beta of 2.48. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.37 and a current ratio of 2.14.

Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Thursday, January 25th. The natural resource company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. The business had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $4.89 billion. Freeport-McMoRan had a net margin of 11.08% and a return on equity of 16.57%. The company’s quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.25 EPS. equities analysts forecast that Freeport-McMoRan Inc will post 2 EPS for the current fiscal year.

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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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