Freeport-McMoran, Inc. (NYSE:FCX)‘s stock had its “hold” rating reissued by BMO Capital Markets in a research report issued to clients and investors on Thursday, June 29th. They currently have a $15.00 target price on the natural resource company’s stock. BMO Capital Markets’ target price indicates a potential upside of 2.74% from the company’s previous close.
A number of other brokerages also recently issued reports on FCX. Cowen and Company reaffirmed a “buy” rating on shares of Freeport-McMoran in a report on Tuesday, April 11th. FBR & Co reaffirmed a “hold” rating and set a $13.00 price target on shares of Freeport-McMoran in a report on Wednesday, April 5th. Vetr downgraded Freeport-McMoran from a “strong-buy” rating to a “buy” rating and set a $14.64 target price for the company. in a report on Monday, April 10th. Deutsche Bank AG raised Freeport-McMoran from a “sell” rating to a “hold” rating and boosted their target price for the company from $12.50 to $14.00 in a report on Tuesday, March 21st. Finally, Berenberg Bank raised Freeport-McMoran from a “sell” rating to a “hold” rating and set a $12.00 target price for the company in a report on Wednesday, March 22nd. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $14.27.
Freeport-McMoran (NYSE:FCX) traded up 0.69% during trading on Thursday, hitting $14.60. The stock had a trading volume of 17,858,305 shares. The stock has a market capitalization of $21.13 billion, a PE ratio of 20.59 and a beta of 2.55. The stock’s 50-day moving average is $12.48 and its 200-day moving average is $13.17. Freeport-McMoran has a 52-week low of $9.24 and a 52-week high of $17.06.
Freeport-McMoran (NYSE:FCX) last announced its quarterly earnings results on Tuesday, July 25th. The natural resource company reported $0.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by $0.04. The business had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.67 billion. Freeport-McMoran had a return on equity of 10.45% and a net margin of 5.97%. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period last year, the firm earned ($0.02) earnings per share. On average, analysts predict that Freeport-McMoran will post $0.91 earnings per share for the current fiscal year.
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A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Freeport-McMoran by 10.7% in the first quarter. Vanguard Group Inc. now owns 132,991,679 shares of the natural resource company’s stock worth $1,776,769,000 after buying an additional 12,897,514 shares during the period. State Street Corp boosted its stake in shares of Freeport-McMoran by 4.6% in the first quarter. State Street Corp now owns 64,979,781 shares of the natural resource company’s stock worth $868,135,000 after buying an additional 2,835,834 shares during the period. FMR LLC boosted its stake in shares of Freeport-McMoran by 104.4% in the first quarter. FMR LLC now owns 42,399,057 shares of the natural resource company’s stock worth $566,451,000 after buying an additional 21,652,647 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Freeport-McMoran by 46.2% in the first quarter. Bank of New York Mellon Corp now owns 14,757,919 shares of the natural resource company’s stock worth $197,166,000 after buying an additional 4,662,665 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Freeport-McMoran by 14.7% in the first quarter. Geode Capital Management LLC now owns 12,966,422 shares of the natural resource company’s stock worth $172,986,000 after buying an additional 1,664,093 shares during the period. Hedge funds and other institutional investors own 69.48% 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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