Freeport-McMoRan (NYSE:FCX) had its price target raised by stock analysts at Barclays from $11.00 to $12.00 in a report released on Tuesday, AnalystRatings.com reports. The firm presently has an “underweight” rating on the natural resource company’s stock. Barclays‘s price target would suggest a potential downside of 11.05% from the stock’s previous close.

A number of other analysts also recently issued reports on FCX. Raymond James reaffirmed a “market perform” rating and set a $16.00 price objective on shares of Freeport-McMoRan in a report on Monday, December 24th. ValuEngine downgraded shares of Freeport-McMoRan from a “sell” rating to a “strong sell” rating in a report on Wednesday, January 2nd. Zacks Investment Research downgraded shares of Freeport-McMoRan from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 8th. Credit Suisse Group initiated coverage on shares of Freeport-McMoRan in a report on Wednesday, January 9th. They set a “neutral” rating and a $12.00 price objective for the company. Finally, Morgan Stanley raised shares of Freeport-McMoRan from an “equal weight” rating to an “overweight” rating and dropped their price objective for the stock from $16.00 to $14.00 in a report on Tuesday, February 12th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $15.57.

NYSE FCX opened at $13.49 on Tuesday. Freeport-McMoRan has a 52-week low of $9.60 and a 52-week high of $19.70. The company has a quick ratio of 1.79, a current ratio of 3.22 and a debt-to-equity ratio of 0.62. The firm has a market cap of $19.39 billion, a PE ratio of 8.92 and a beta of 2.26.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Thursday, January 24th. The natural resource company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). Freeport-McMoRan had a return on equity of 15.77% and a net margin of 12.12%. The company had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.86 billion. During the same period in the prior year, the firm posted $0.51 earnings per share. The business’s revenue was down 26.9% on a year-over-year basis. On average, equities analysts expect that Freeport-McMoRan will post 0.53 EPS for the current year.

In other news, VP C Donald Whitmire, Jr. sold 7,425 shares of the company’s stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $11.58, for a total transaction of $85,981.50. Following the completion of the transaction, the vice president now directly owns 67,974 shares of the company’s stock, valued at $787,138.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.05% of the company’s stock.

Several large investors have recently modified their holdings of FCX. Flagship Harbor Advisors LLC increased its position in shares of Freeport-McMoRan by 21.6% during the fourth quarter. Flagship Harbor Advisors LLC now owns 5,120 shares of the natural resource company’s stock valued at $52,000 after buying an additional 908 shares during the period. Moody National Bank Trust Division increased its position in shares of Freeport-McMoRan by 3.6% during the fourth quarter. Moody National Bank Trust Division now owns 28,192 shares of the natural resource company’s stock valued at $291,000 after buying an additional 985 shares during the period. Ffcm LLC increased its position in shares of Freeport-McMoRan by 7.3% during the fourth quarter. Ffcm LLC now owns 14,911 shares of the natural resource company’s stock valued at $154,000 after buying an additional 1,019 shares during the period. Focused Wealth Management Inc increased its position in shares of Freeport-McMoRan by 3.5% during the fourth quarter. Focused Wealth Management Inc now owns 32,597 shares of the natural resource company’s stock valued at $336,000 after buying an additional 1,107 shares during the period. Finally, Brookstone Capital Management increased its position in shares of Freeport-McMoRan by 9.3% during the fourth quarter. Brookstone Capital Management now owns 14,296 shares of the natural resource company’s stock valued at $147,000 after buying an additional 1,212 shares during the period. 70.77% of the stock is owned by hedge funds and other institutional investors.

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. 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 in Peru and El Abra in Chile.

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Analyst Recommendations for Freeport-McMoRan (NYSE:FCX)

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