Freeport-McMoRan (NYSE:FCX)‘s stock had its “market perform” rating reissued by investment analysts at Raymond James in a report issued on Friday, BayStreet.CA reports. They currently have a $12.00 target price on the natural resource company’s stock. Raymond James’ price target would indicate a potential upside of 1.35% from the company’s current price. Raymond James also issued estimates for Freeport-McMoRan’s Q4 2019 earnings at $0.02 EPS, Q4 2020 earnings at $0.13 EPS and FY2020 earnings at $0.50 EPS.

Several other equities research analysts also recently weighed in on FCX. Morgan Stanley restated an “overweight” rating and issued a $13.30 target price on shares of Freeport-McMoRan in a research note on Thursday, November 7th. B. Riley lifted their price objective on shares of Freeport-McMoRan from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Royal Bank of Canada reiterated a “hold” rating and set a $14.00 price objective on shares of Freeport-McMoRan in a research note on Thursday. JPMorgan Chase & Co. lowered their price objective on shares of Freeport-McMoRan from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Finally, UBS Group upgraded shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $13.00 to $12.00 in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $13.52.

FCX traded down $0.13 during trading on Friday, hitting $11.84. The stock had a trading volume of 29,550,034 shares, compared to its average volume of 23,686,545. The company has a market capitalization of $17.88 billion, a PE ratio of -394.54 and a beta of 2.51. Freeport-McMoRan has a twelve month low of $8.43 and a twelve month high of $14.68. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.16 and a current ratio of 2.47. The stock has a 50 day simple moving average of $12.77 and a two-hundred day simple moving average of $10.89.

Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Thursday, January 23rd. The natural resource company reported $0.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.03. The company had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.69 billion. Freeport-McMoRan had a negative net margin of 0.22% and a positive return on equity of 0.91%. Freeport-McMoRan’s revenue was up 6.2% compared to the same quarter last year. During the same period last year, the firm earned $0.11 earnings per share. On average, equities research analysts anticipate that Freeport-McMoRan will post -0.01 EPS for the current year.

Several large investors have recently bought and sold shares of the company. Fisher Asset Management LLC lifted its position in Freeport-McMoRan by 31.9% during the third quarter. Fisher Asset Management LLC now owns 38,822,910 shares of the natural resource company’s stock valued at $371,535,000 after purchasing an additional 9,381,370 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Freeport-McMoRan by 10.6% during the second quarter. Price T Rowe Associates Inc. MD now owns 12,037,806 shares of the natural resource company’s stock valued at $139,759,000 after purchasing an additional 1,155,099 shares during the period. Nuveen Asset Management LLC lifted its position in Freeport-McMoRan by 14,378.6% during the second quarter. Nuveen Asset Management LLC now owns 10,964,634 shares of the natural resource company’s stock valued at $127,299,000 after purchasing an additional 10,888,904 shares during the period. Hexavest Inc. lifted its position in Freeport-McMoRan by 4.4% during the fourth quarter. Hexavest Inc. now owns 4,646,541 shares of the natural resource company’s stock valued at $60,963,000 after purchasing an additional 195,353 shares during the period. Finally, UBS Asset Management Americas Inc. lifted its position in Freeport-McMoRan by 2.4% during the second quarter. UBS Asset Management Americas Inc. now owns 4,201,965 shares of the natural resource company’s stock valued at $48,785,000 after purchasing an additional 99,146 shares during the period. Institutional investors and hedge funds own 71.18% of the company’s stock.

About Freeport-McMoRan

Freeport-McMoRan, Inc engages in the mining of copper, gold, and molybdenum. It operates through the following segments: North America Copper Mines; South America Mining; Indonesia Mining; Molybdenum Mines; Rod and Refining; Atlantic Copper Smelting and Refining; and Corporate, Other, and Eliminations.

Read More: Debt-To-Equity Ratio

Analyst Recommendations for Freeport-McMoRan (NYSE:FCX)

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