Freeport-McMoran, Inc. (NYSE:FCX) has been assigned a $15.00 price target by equities research analysts at Jefferies Group LLC in a report released on Monday. The firm presently has a “buy” rating on the natural resource company’s stock. Jefferies Group LLC’s target price points to a potential upside of 19.81% from the company’s previous close.
Several other analysts also recently issued reports on FCX. Zacks Investment Research downgraded Freeport-McMoran from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. ValuEngine raised Freeport-McMoran from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. BidaskClub raised Freeport-McMoran from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 27th. BMO Capital Markets reissued a “hold” rating and issued a $15.00 price target on shares of Freeport-McMoran in a research note on Thursday, June 29th. Finally, Cowen and Company reissued a “buy” rating on shares of Freeport-McMoran in a research note on Tuesday, April 11th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Freeport-McMoran has a consensus rating of “Hold” and an average target price of $13.59.
Shares of Freeport-McMoran (NYSE:FCX) traded down 0.998% on Monday, reaching $12.395. The company’s stock had a trading volume of 7,992,527 shares. Freeport-McMoran has a 1-year low of $9.24 and a 1-year high of $17.06. The stock has a market cap of $17.93 billion, a PE ratio of 66.283 and a beta of 2.55. The company’s 50 day moving average is $11.72 and its 200-day moving average is $13.34. Freeport-McMoran also was the recipient of some unusual options trading on Monday. Stock traders purchased 26,905 call options on the stock. This is an increase of approximately 117% compared to the typical daily volume of 12,393 call options.
Freeport-McMoran (NYSE:FCX) last released its quarterly earnings results on Tuesday, April 25th. The natural resource company reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $3.51 billion. During the same period in the prior year, the business earned ($0.16) EPS. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. On average, equities analysts predict that Freeport-McMoran will post $1.02 earnings per share for the current fiscal year.
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Large investors have recently modified their holdings of the company. 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 in the last quarter. 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 in the last quarter. 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 in the last quarter. 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 in the last quarter. 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 in the last quarter. Institutional investors own 69.45% 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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