Freeport-McMoran, Inc. (NYSE:FCX) Price Target Raised to $22.00
Freeport-McMoran, Inc. (NYSE:FCX) had its price target lifted by Cowen and Company from $20.00 to $22.00 in a research note published on Thursday morning, MarketBeat Ratings reports. The firm currently has an outperform rating on the natural resource company’s stock.
A number of other analysts have also commented on the stock. BMO Capital Markets set a $17.00 target price on shares of Freeport-McMoran and gave the stock a hold rating in a report on Wednesday, July 26th. BidaskClub raised shares of Freeport-McMoran from a sell rating to a hold rating in a report on Monday, July 24th. Berenberg Bank set a $10.00 target price on shares of Freeport-McMoran and gave the stock a sell rating in a report on Saturday, July 22nd. ValuEngine lowered shares of Freeport-McMoran from a buy rating to a hold rating in a report on Thursday, July 13th. Finally, Clarkson Capital reaffirmed a neutral rating on shares of Freeport-McMoran in a report on Monday, July 10th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Freeport-McMoran presently has a consensus rating of Hold and a consensus target price of $14.27.
Shares of Freeport-McMoran (FCX) traded up 0.07% during midday trading on Thursday, hitting $14.61. The stock had a trading volume of 5,949,118 shares. The stock has a market cap of $21.14 billion, a PE ratio of 20.61 and a beta of 2.55. The stock has a 50-day moving average of $12.48 and a 200 day moving average of $13.17. Freeport-McMoran has a 52 week low of $9.24 and a 52 week high of $17.06.
Freeport-McMoran (NYSE:FCX) last released its earnings results on Tuesday, July 25th. The natural resource company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by $0.04. Freeport-McMoran had a return on equity of 10.45% and a net margin of 5.97%. The business had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same period in the prior year, the firm posted ($0.02) EPS. Freeport-McMoran’s revenue was up 11.3% on a year-over-year basis. Analysts anticipate that Freeport-McMoran will post $0.91 EPS for the current fiscal year.
Large investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue bought a new stake in Freeport-McMoran during the first quarter valued at approximately $222,000. Bank of New York Mellon Corp boosted its stake in Freeport-McMoran by 46.2% in the first quarter. Bank of New York Mellon Corp now owns 14,757,919 shares of the natural resource company’s stock valued at $197,166,000 after buying an additional 4,662,665 shares in the last quarter. Parkwood LLC boosted its stake in Freeport-McMoran by 380.3% in the first quarter. Parkwood LLC now owns 80,541 shares of the natural resource company’s stock valued at $1,076,000 after buying an additional 63,773 shares in the last quarter. ARP Americas LLC bought a new stake in Freeport-McMoran during the first quarter valued at approximately $150,000. Finally, Vanguard Group Inc. boosted its stake in Freeport-McMoran by 10.7% in the first quarter. Vanguard Group Inc. now owns 132,991,679 shares of the natural resource company’s stock valued at $1,776,769,000 after buying an additional 12,897,514 shares in the last quarter. 69.57% 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.
Receive News & Ratings for Freeport-McMoran Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Freeport-McMoran Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.