Freeport-McMoran, Inc. (NYSE:FCX) – Stock analysts at Jefferies Group upped their FY2017 earnings estimates for shares of Freeport-McMoran in a research report issued to clients and investors on Wednesday, according to Zacks Investment Research. Jefferies Group analyst C. Lafemina now forecasts that the natural resource company will earn $1.07 per share for the year, up from their previous estimate of $1.05. Jefferies Group has a “Buy” rating and a $19.00 price target on the stock. Jefferies Group also issued estimates for Freeport-McMoran’s FY2018 earnings at $2.32 EPS.
Other equities research analysts have also issued reports about the stock. B. Riley reiterated a “neutral” rating on shares of Freeport-McMoran in a research note on Wednesday, November 1st. BMO Capital Markets set a $17.00 price target on shares of Freeport-McMoran and gave the stock a “hold” rating in a research note on Wednesday, July 26th. BidaskClub upgraded shares of Freeport-McMoran from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. FBR & Co reiterated a “market perform” rating and set a $13.00 price target (up from $12.00) on shares of Freeport-McMoran in a research note on Thursday, July 27th. Finally, Deutsche Bank AG lowered shares of Freeport-McMoran from a “hold” rating to a “sell” rating and set a $13.00 price target on the stock. in a research note on Tuesday, October 17th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $15.54.
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Shares of Freeport-McMoran (NYSE:FCX) traded down $0.31 during trading hours on Thursday, reaching $14.41. 13,518,200 shares of the company traded hands, compared to its average volume of 21,539,439. Freeport-McMoran has a 12-month low of $11.05 and a 12-month high of $17.06. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.02 and a quick ratio of 1.32. The firm has a market cap of $21,308.53, a price-to-earnings ratio of 16.18 and a beta of 2.57.
Freeport-McMoran (NYSE:FCX) last announced its quarterly earnings data on Wednesday, October 25th. The natural resource company reported $0.34 earnings per share for the quarter, beating 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 business had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same period last year, the business earned $0.13 EPS. The company’s revenue was up 11.2% on a year-over-year basis.
In other news, COO Harry M. Iv Conger bought 36,180 shares of the stock in a transaction dated Thursday, September 7th. The shares were acquired at an average price of $15.23 per share, with a total value of $551,021.40. Following the completion of the acquisition, the chief operating officer now directly owns 73,943 shares in the company, valued at $1,126,151.89. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.29% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. First Manhattan Co. boosted its holdings in Freeport-McMoran by 0.3% during 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 in the last quarter. M Holdings Securities Inc. boosted its holdings in Freeport-McMoran by 1.1% during the first quarter. M Holdings Securities Inc. now owns 14,396 shares of the natural resource company’s stock worth $192,000 after buying an additional 150 shares in the last quarter. Sii Investments Inc. WI boosted its holdings in Freeport-McMoran by 2.3% during the first quarter. Sii Investments Inc. WI now owns 13,643 shares of the natural resource company’s stock worth $182,000 after buying an additional 305 shares in the last quarter. IHT Wealth Management LLC boosted its holdings in Freeport-McMoran by 27.1% during the second quarter. IHT Wealth Management LLC now owns 1,758 shares of the natural resource company’s stock worth $843,000 after buying an additional 375 shares in the last quarter. Finally, Guardian Capital Advisors LP boosted its holdings in Freeport-McMoran by 1.2% during the second quarter. Guardian Capital Advisors LP now owns 34,254 shares of the natural resource company’s stock worth $427,000 after buying an additional 400 shares in the last quarter. 68.06% of the stock is currently owned by hedge funds and other institutional investors.
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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