Berenberg Bank Analysts Give Freeport-McMoran, Inc. (FCX) a $10.00 Price Target
Berenberg Bank set a $10.00 target price on Freeport-McMoran, Inc. (NYSE:FCX) in a research note issued to investors on Saturday morning. The brokerage currently has a sell rating on the natural resource company’s stock.
A number of other analysts also recently issued reports on the company. ValuEngine downgraded Freeport-McMoran from a buy rating to a hold rating in a research report on Thursday, July 13th. Clarkson Capital reissued a neutral rating on shares of Freeport-McMoran in a research report on Monday, July 10th. Zacks Investment Research downgraded Freeport-McMoran from a hold rating to a sell rating in a research report on Tuesday, July 11th. Jefferies Group LLC set a $15.00 price objective on Freeport-McMoran and gave the stock a buy rating in a research report on Monday, July 10th. Finally, BMO Capital Markets reissued a hold rating and set a $15.00 price objective on shares of Freeport-McMoran in a research report on Thursday, June 29th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Hold and an average price target of $13.77.
Shares of Freeport-McMoran (FCX) opened at 14.87 on Friday. The stock’s 50 day moving average is $12.13 and its 200-day moving average is $13.15. The stock has a market capitalization of $21.51 billion, a price-to-earnings ratio of 79.52 and a beta of 2.55. Freeport-McMoran has a 52 week low of $9.24 and a 52 week high of $17.06.
Freeport-McMoran (NYSE:FCX) last issued its quarterly earnings data on Tuesday, July 25th. The natural resource company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by $0.03. The business had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.67 billion. Freeport-McMoran had a return on equity of 7.97% and a net margin of 1.11%. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.02) earnings per share. On average, analysts anticipate that Freeport-McMoran will post $1.01 earnings per share for the current fiscal year.
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Institutional investors have recently made changes to their positions in the stock. Chevy Chase Trust Holdings Inc. boosted its position in shares of Freeport-McMoran by 6.9% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 1,866,972 shares of the natural resource company’s stock valued at $24,943,000 after buying an additional 121,014 shares during the last quarter. F&V Capital Management LLC bought a new position in shares of Freeport-McMoran during the first quarter valued at about $280,000. Atalanta Sosnoff Capital LLC bought a new position in shares of Freeport-McMoran during the first quarter valued at about $151,000. McQueen Ball & Associates Inc. boosted its position in shares of Freeport-McMoran by 30.0% in the first quarter. McQueen Ball & Associates Inc. now owns 217,783 shares of the natural resource company’s stock valued at $2,910,000 after buying an additional 50,199 shares during the last quarter. Finally, Highbridge Capital Management LLC boosted its position in shares of Freeport-McMoran by 16,285.1% in the fourth quarter. Highbridge Capital Management LLC now owns 163,851 shares of the natural resource company’s stock valued at $2,162,000 after buying an additional 162,851 shares during the last quarter. Institutional investors and hedge funds own 69.48% of the company’s stock.
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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