Freeport-McMoran, Inc. (FCX) PT Set at $15.00 by Stifel Nicolaus
Freeport-McMoran, Inc. (NYSE:FCX) has been assigned a $15.00 target price by analysts at Stifel Nicolaus in a research note issued on Tuesday. The firm presently has a “hold” rating on the natural resource company’s stock. Stifel Nicolaus’ price objective points to a potential upside of 3.02% from the stock’s current price.
Several other research firms have also recently issued reports on FCX. Clarkson Capital reiterated a “neutral” rating on shares of Freeport-McMoran in a research report on Monday, July 10th. ValuEngine cut Freeport-McMoran from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. BidaskClub upgraded Freeport-McMoran from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. BMO Capital Markets set a $17.00 price objective on Freeport-McMoran and gave the stock a “hold” rating in a research report on Wednesday, July 26th. Finally, Berenberg Bank cut Freeport-McMoran from a “hold” rating to a “sell” rating and set a $10.00 price objective for the company. in a research report on Wednesday, July 12th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $14.65.
Shares of Freeport-McMoran (NYSE:FCX) opened at 14.56 on Tuesday. The company has a market capitalization of $21.07 billion, a price-to-earnings ratio of 20.54 and a beta of 2.59. The company’s 50-day moving average is $13.97 and its 200 day moving average is $12.99. Freeport-McMoran has a 12 month low of $9.24 and a 12 month high of $17.06.
Freeport-McMoran (NYSE:FCX) last released its quarterly earnings results on Tuesday, July 25th. The natural resource company reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by $0.04. Freeport-McMoran had a return on equity of 10.45% and a net margin of 5.97%. The company had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.67 billion. During the same quarter last year, the company earned ($0.02) EPS. Freeport-McMoran’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, equities research analysts anticipate that Freeport-McMoran will post $0.89 earnings per share for the current year.
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Several hedge funds have recently bought and sold shares of FCX. Sun Life Financial INC raised its stake in Freeport-McMoran by 96,340.0% in the second quarter. Sun Life Financial INC now owns 9,644 shares of the natural resource company’s stock worth $116,000 after buying an additional 9,634 shares during the last quarter. First Manhattan Co. raised its stake in Freeport-McMoran by 0.3% in the second quarter. First Manhattan Co. now owns 10,067 shares of the natural resource company’s stock worth $120,000 after buying an additional 33 shares during the last quarter. Outfitter Advisors LTD. bought a new stake in Freeport-McMoran during the second quarter worth approximately $121,000. Acrospire Investment Management LLC bought a new stake in Freeport-McMoran during the first quarter worth approximately $122,000. Finally, Fisher Asset Management LLC bought a new stake in Freeport-McMoran during the second quarter worth approximately $122,000. 67.94% of the stock is currently owned by institutional investors and hedge funds.
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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