Weekly Investment Analysts’ Ratings Updates for Freeport-McMoRan (FCX)

A number of firms have modified their ratings and price targets on shares of Freeport-McMoRan (NYSE: FCX) recently:

  • 5/28/2018 – Freeport-McMoRan was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong sell” rating. According to Zacks, “Freeport’s rising unit net cash costs for copper in North American and South American operations remain a concern. Average unit net cash costs of copper for North America are expected to rise year over year in 2018 as reflected by the company's guidance. Freeport’s South American mines are also exposed to operational challenges. Volumes in South America are expected to remain under pressure in the near term. Moreover, the company still faces uncertainties surrounding the Grasberg mine.”
  • 5/23/2018 – Freeport-McMoRan had its “sell” rating reaffirmed by analysts at Berenberg Bank. They now have a $15.00 price target on the stock.
  • 5/23/2018 – Freeport-McMoRan was upgraded by analysts at Alembic Global Advisors from a “neutral” rating to a “buy” rating.
  • 5/23/2018 – Freeport-McMoRan was upgraded by analysts at B. Riley from a “neutral” rating to a “buy” rating. They now have a $20.00 price target on the stock, up previously from $17.00.
  • 5/1/2018 – Freeport-McMoRan had its price target lowered by analysts at Scotiabank from $19.00 to $17.00. They now have a “sector perform” rating on the stock.
  • 5/1/2018 – Freeport-McMoRan was upgraded by analysts at CIBC from a “neutral” rating to a “sector outperform” rating. They now have a $20.00 price target on the stock.
  • 4/26/2018 – Freeport-McMoRan had its price target lowered by analysts at B. Riley from $19.00 to $18.00. They now have a “neutral” rating on the stock.
  • 4/25/2018 – Freeport-McMoRan had its “sector perform” rating reaffirmed by analysts at Scotiabank. They now have a $19.00 price target on the stock.
  • 4/25/2018 – Freeport-McMoRan had its price target lowered by analysts at Cowen Inc from $22.00 to $19.00. They now have an “outperform” rating on the stock.
  • 4/25/2018 – Freeport-McMoRan had its price target lowered by analysts at Raymond James from $19.00 to $18.00. They now have a “market perform” rating on the stock.
  • 4/24/2018 – Freeport-McMoRan was given a new $17.00 price target on by analysts at BMO Capital Markets. They now have a “hold” rating on the stock.

Shares of Freeport-McMoRan opened at $17.95 on Wednesday, according to Marketbeat Ratings. The company has a market capitalization of $26.35 billion, a PE ratio of 15.34 and a beta of 2.48. The company has a quick ratio of 1.43, a current ratio of 2.33 and a debt-to-equity ratio of 0.93. Freeport-McMoRan Inc has a 52 week low of $11.12 and a 52 week high of $20.25.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Tuesday, April 24th. The natural resource company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.10). The firm had revenue of $4.87 billion during the quarter, compared to analyst estimates of $4.92 billion. Freeport-McMoRan had a return on equity of 19.92% and a net margin of 12.72%. Freeport-McMoRan’s revenue was up 45.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.15 EPS. equities analysts expect that Freeport-McMoRan Inc will post 2.04 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. Penserra Capital Management LLC grew its position in shares of Freeport-McMoRan by 281.1% in the 1st quarter. Penserra Capital Management LLC now owns 6,319 shares of the natural resource company’s stock worth $100,000 after acquiring an additional 4,661 shares in the last quarter. Princeton Capital Management LLC acquired a new position in shares of Freeport-McMoRan in the 1st quarter worth approximately $101,000. Advisors Preferred LLC acquired a new position in shares of Freeport-McMoRan in the 1st quarter worth approximately $105,000. American Beacon Advisors Inc. acquired a new position in shares of Freeport-McMoRan in the 4th quarter worth approximately $131,000. Finally, Signaturefd LLC acquired a new position in shares of Freeport-McMoRan in the 1st quarter worth approximately $147,000. Institutional investors own 71.96% of the company’s stock.

Freeport-McMoRan Inc engages in the mining of mineral properties in the United States, Indonesia, Peru, and Chile. The company primarily explores for copper, gold, molybdenum, silver, and other metals, as well as oil and gas. Its assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde and El Abra mines in South America.

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