Clarkson Capital upgraded shares of Freeport-McMoRan (NYSE:FCX) from a neutral rating to a buy rating in a research report report published on Wednesday, MarketBeat Ratings reports.

A number of other equities analysts have also issued reports on the stock. Jefferies Group reiterated a buy rating and set a $19.00 target price (down from $23.00) on shares of Freeport-McMoRan in a research report on Wednesday, October 4th. Zacks Investment Research upgraded shares of Freeport-McMoRan from a hold rating to a buy rating and set a $16.00 price objective on the stock in a report on Tuesday, November 14th. FBR & Co restated a hold rating and issued a $12.00 price objective on shares of Freeport-McMoRan in a report on Thursday, October 26th. Deutsche Bank lowered shares of Freeport-McMoRan from a hold rating to a sell rating and set a $13.00 price objective on the stock. in a report on Tuesday, October 17th. Finally, ValuEngine upgraded shares of Freeport-McMoRan from a hold rating to a buy rating in a report on Thursday, October 26th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $15.89.

Shares of Freeport-McMoRan (FCX) traded up $0.56 during mid-day trading on Wednesday, hitting $19.96. 22,635,588 shares of the stock were exchanged, compared to its average volume of 20,610,000. Freeport-McMoRan has a 12 month low of $11.05 and a 12 month high of $20.16. The firm has a market capitalization of $28,890.00, a price-to-earnings ratio of 27.72 and a beta of 2.51. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.02 and a quick ratio of 1.32.

Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Wednesday, October 25th. The natural resource company reported $0.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.03. Freeport-McMoRan had a net margin of 6.20% and a return on equity of 13.35%. The company had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same period in the prior year, the business earned $0.13 earnings per share. Freeport-McMoRan’s quarterly revenue was up 11.2% on a year-over-year basis. equities research analysts anticipate that Freeport-McMoRan will post 1.13 earnings per share for the current year.

A number of large investors have recently modified their holdings of the business. IHT Wealth Management LLC increased its stake in Freeport-McMoRan by 27.1% in the second quarter. IHT Wealth Management LLC now owns 1,758 shares of the natural resource company’s stock valued at $843,000 after purchasing an additional 375 shares in the last quarter. Guardian Capital Advisors LP increased its stake in Freeport-McMoRan by 1.2% in the second quarter. Guardian Capital Advisors LP now owns 34,254 shares of the natural resource company’s stock valued at $427,000 after purchasing an additional 400 shares in the last quarter. Nordea Investment Management AB increased its stake in Freeport-McMoRan by 1.3% in the second quarter. Nordea Investment Management AB now owns 57,003 shares of the natural resource company’s stock valued at $685,000 after purchasing an additional 746 shares in the last quarter. D.A. Davidson & CO. increased its stake in Freeport-McMoRan by 0.5% in the second quarter. D.A. Davidson & CO. now owns 213,817 shares of the natural resource company’s stock valued at $2,567,000 after purchasing an additional 1,049 shares in the last quarter. Finally, Thrivent Financial For Lutherans increased its stake in Freeport-McMoRan by 4.2% in the second quarter. Thrivent Financial For Lutherans now owns 50,732 shares of the natural resource company’s stock valued at $609,000 after purchasing an additional 2,060 shares in the last quarter. 68.06% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: This article was posted by Watch List News and is the property of of Watch List News. If you are reading this article on another site, it was illegally copied and republished in violation of U.S. and international copyright & trademark laws. The original version of this article can be viewed at https://www.watchlistnews.com/freeport-mcmoran-fcx-rating-increased-to-buy-at-clarkson-capital/1815764.html.

About Freeport-McMoRan

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.

Analyst Recommendations for Freeport-McMoRan (NYSE:FCX)

Receive News & Ratings for Freeport-McMoRan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Freeport-McMoRan and related companies with MarketBeat.com's FREE daily email newsletter.