Freeport-McMoRan (NYSE:FCX) Price Target Raised to $75.00 at BNP Paribas Exane

Freeport-McMoRan (NYSE:FCX) had its target price hoisted by analysts at BNP Paribas Exane from $56.00 to $75.00 in a note issued to investors on Thursday,MarketScreener reports. The brokerage presently has an “outperform” rating on the natural resource company’s stock. BNP Paribas Exane’s target price indicates a potential upside of 21.54% from the company’s previous close.

FCX has been the subject of a number of other research reports. Scotiabank upped their price objective on shares of Freeport-McMoRan from $63.00 to $70.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Clarkson Capital upgraded shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $46.00 price objective for the company in a research report on Wednesday, November 19th. Morgan Stanley set a $70.00 price objective on Freeport-McMoRan in a report on Tuesday, January 27th. Raymond James Financial increased their target price on Freeport-McMoRan from $53.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, January 15th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $68.00 price target on shares of Freeport-McMoRan in a report on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.26.

Freeport-McMoRan Stock Performance

Shares of FCX stock opened at $61.71 on Thursday. The stock’s 50-day moving average price is $55.59 and its 200 day moving average price is $46.68. The company has a quick ratio of 1.05, a current ratio of 2.29 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $88.61 billion, a PE ratio of 40.66, a price-to-earnings-growth ratio of 0.74 and a beta of 1.47. Freeport-McMoRan has a 52-week low of $27.66 and a 52-week high of $69.44.

Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Thursday, January 22nd. The natural resource company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.19. Freeport-McMoRan had a return on equity of 8.50% and a net margin of 8.50%.The company had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $5.42 billion. During the same period last year, the business posted $0.31 EPS. The company’s revenue was down 1.5% on a year-over-year basis. As a group, equities research analysts forecast that Freeport-McMoRan will post 1.68 EPS for the current year.

Insider Buying and Selling at Freeport-McMoRan

In other Freeport-McMoRan news, EVP Douglas N. Currault II sold 75,000 shares of the company’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $64.52, for a total value of $4,839,000.00. Following the sale, the executive vice president owned 219,181 shares of the company’s stock, valued at $14,141,558.12. This represents a 25.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Stephen T. Higgins sold 28,423 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $47.99, for a total value of $1,364,019.77. Following the completion of the sale, the chief accounting officer directly owned 105,294 shares in the company, valued at approximately $5,053,059.06. The trade was a 21.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 513,986 shares of company stock valued at $32,124,432 in the last quarter. Insiders own 0.75% of the company’s stock.

Institutional Investors Weigh In On Freeport-McMoRan

Hedge funds and other institutional investors have recently modified their holdings of the company. Goehring & Rozencwajg Associates LLC grew its stake in Freeport-McMoRan by 5.4% in the 4th quarter. Goehring & Rozencwajg Associates LLC now owns 237,584 shares of the natural resource company’s stock worth $12,067,000 after acquiring an additional 12,148 shares during the period. Boston Partners lifted its stake in shares of Freeport-McMoRan by 75.1% during the 4th quarter. Boston Partners now owns 7,916,348 shares of the natural resource company’s stock worth $404,695,000 after purchasing an additional 3,395,264 shares during the period. SIR Capital Management L.P. boosted its holdings in shares of Freeport-McMoRan by 84.6% during the fourth quarter. SIR Capital Management L.P. now owns 624,956 shares of the natural resource company’s stock worth $31,742,000 after purchasing an additional 286,400 shares during the last quarter. Martingale Asset Management L P grew its position in shares of Freeport-McMoRan by 45.4% in the fourth quarter. Martingale Asset Management L P now owns 24,602 shares of the natural resource company’s stock valued at $1,250,000 after purchasing an additional 7,687 shares during the period. Finally, Polymer Capital Management HK LTD acquired a new position in Freeport-McMoRan in the fourth quarter valued at $3,579,000. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Freeport-McMoRan News Roundup

Here are the key news stories impacting Freeport-McMoRan this week:

• Positive Sentiment: Argus upgraded FCX from “hold” to “buy,” a near-term catalyst that can attract buyer interest. Finviz
• Positive Sentiment: Stifel Nicolaus raised its price target to $76 and maintained a “buy”—the new target implies material upside vs. recent levels and reinforces broker confidence. BayStreet.CA
• Positive Sentiment: Zacks reports that earnings estimate revisions for FCX have trended higher (“surging estimates”), supporting the view that fundamentals and analyst expectations are improving. Surging Earnings Estimates Signal Upside
• Neutral Sentiment: Several media/analyst pieces are highlighting FCX as a momentum/value story, increasing retail and institutional attention (informational—may amplify moves but not a direct operational catalyst). Is It Too Late To Consider Freeport-McMoRan?
• Negative Sentiment: Grasberg-related operational setbacks reduced Q4 volumes, denting reported sales despite higher realized prices—this is a fundamental headwind for near-term revenue/volume. Grasberg Setbacks Weigh on FCX’s Q4 Volumes
• Negative Sentiment: Chairman Richard Adkerson sold 152,960 shares on Feb. 11 (~$64.65 avg), a large insider disposition that can sap sentiment even if not tied to company fundamentals. Adkerson Feb 11 SEC Filing
• Negative Sentiment: Chairman Richard Adkerson also sold 248,031 shares on Feb. 10 (~$62.80 avg), a separate large block that increases selling-related pressure on the stock. Adkerson Feb 10 SEC Filing
• Negative Sentiment: EVP Douglas Currault II sold 75,000 shares (~$64.52 avg, ~$4.84M); while insiders still hold large positions, the sale is another near-term negative for sentiment. Douglas Currault II Sells 75,000 Shares

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc is a U.S.-based natural resources company primarily engaged in the exploration, mining and processing of copper, gold and molybdenum. Its operations encompass large-scale open-pit and underground mining as well as associated concentrator and milling facilities. The company produces copper in the form of concentrates and cathodes, and also recovers gold and molybdenum as co-products; its business model includes exploration, development, mining, beneficiation and the sale of bulk commodities to smelters and industrial customers.

Freeport-McMoRan conducts operations and development activities across multiple geographies, with substantial assets in the Americas and Indonesia.