Shares of Freeport-McMoRan Inc (NYSE:FCX) have been assigned an average recommendation of “Hold” from the twenty-four research firms that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, fourteen have assigned a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $15.64.
Several research analysts have recently weighed in on the stock. B. Riley reiterated a “neutral” rating on shares of Freeport-McMoRan in a research note on Wednesday, November 1st. Royal Bank of Canada set a $14.00 price target on shares of Freeport-McMoRan and gave the stock a “hold” rating in a research note on Wednesday, October 11th. FBR & Co reiterated a “neutral” rating and set a $12.00 price target (down previously from $13.00) on shares of Freeport-McMoRan in a research note on Thursday, September 14th. Macquarie assumed coverage on shares of Freeport-McMoRan in a research note on Thursday, September 7th. They set a “neutral” rating and a $16.00 price target on the stock. Finally, UBS Group lifted their price target on shares of Freeport-McMoRan from $13.50 to $14.00 and gave the stock a “neutral” rating in a research note on Monday, October 30th.
Freeport-McMoRan (NYSE FCX) traded up $0.01 during trading hours on Friday, reaching $19.75. 5,793,139 shares of the company’s stock were exchanged, compared to its average volume of 20,704,434. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.32 and a current ratio of 2.02. Freeport-McMoRan has a fifty-two week low of $11.05 and a fifty-two week high of $19.85. The company has a market cap of $28,620.00, a P/E ratio of 27.42 and a beta of 2.51.
Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Wednesday, October 25th. The natural resource company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Freeport-McMoRan had a net margin of 6.20% and a return on equity of 13.35%. The business had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter in the previous year, the firm posted $0.13 EPS. The firm’s revenue was up 11.2% on a year-over-year basis. equities analysts predict that Freeport-McMoRan will post 1.09 earnings per share for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. IHT Wealth Management LLC lifted its stake in shares of Freeport-McMoRan by 27.1% during the 2nd quarter. IHT Wealth Management LLC now owns 1,758 shares of the natural resource company’s stock valued at $843,000 after buying an additional 375 shares in the last quarter. Guardian Capital Advisors LP lifted its stake in shares of Freeport-McMoRan by 1.2% during the 2nd quarter. Guardian Capital Advisors LP now owns 34,254 shares of the natural resource company’s stock valued at $427,000 after buying an additional 400 shares in the last quarter. Argent Trust Co lifted its stake in Freeport-McMoRan by 4.4% in the 2nd quarter. Argent Trust Co now owns 11,818 shares of the natural resource company’s stock worth $142,000 after purchasing an additional 500 shares in the last quarter. Freestone Capital Holdings LLC lifted its stake in Freeport-McMoRan by 1.1% in the 2nd quarter. Freestone Capital Holdings LLC now owns 47,314 shares of the natural resource company’s stock worth $568,000 after purchasing an additional 507 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in Freeport-McMoRan by 1.3% in the 2nd quarter. Nordea Investment Management AB now owns 57,003 shares of the natural resource company’s stock worth $685,000 after purchasing an additional 746 shares in the last quarter. Institutional investors own 68.07% of the company’s stock.
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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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