Royal Bank Of Canada restated their hold rating on shares of Freeport-McMoran (NYSE:FCX) in a research note released on Tuesday. The firm currently has a $17.00 price objective on the natural resource company’s stock.
Several other brokerages have also recently issued reports on FCX. Vertical Research reaffirmed a buy rating and set a $20.00 price objective on shares of Freeport-McMoran in a report on Tuesday, August 29th. Jefferies Group set a $18.00 price objective on Freeport-McMoran and gave the stock a buy rating in a report on Monday, August 28th. BidaskClub raised Freeport-McMoran from a sell rating to a hold rating in a report on Thursday, August 24th. Deutsche Bank cut 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, Stifel Nicolaus set a $15.00 price objective on Freeport-McMoran and gave the stock a hold rating in a report on Tuesday, August 29th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Freeport-McMoran has a consensus rating of Hold and an average target price of $15.57.
Freeport-McMoran (NYSE FCX) traded up $0.13 during mid-day trading on Tuesday, reaching $14.97. The company’s stock had a trading volume of 11,855,861 shares, compared to its average volume of 14,302,275. The company has a market cap of $21,482.23, a P/E ratio of 16.31 and a beta of 2.56. Freeport-McMoran has a 1-year low of $11.05 and a 1-year high of $17.06. The company has a quick ratio of 1.32, a current ratio of 2.02 and a debt-to-equity ratio of 1.23.
Freeport-McMoran (NYSE:FCX) last issued its quarterly earnings data on Wednesday, October 25th. The natural resource company reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.03. The business had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.06 billion. Freeport-McMoran had a return on equity of 13.35% and a net margin of 6.20%. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.13 EPS. equities analysts predict that Freeport-McMoran will post 1.07 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in FCX. Strs Ohio raised its holdings in Freeport-McMoran by 61.8% during the 2nd quarter. Strs Ohio now owns 85,740 shares of the natural resource company’s stock valued at $1,029,000 after buying an additional 32,734 shares during the period. First Manhattan Co. raised its holdings in Freeport-McMoran by 0.3% during the 2nd quarter. First Manhattan Co. now owns 10,067 shares of the natural resource company’s stock valued at $120,000 after buying an additional 33 shares during the period. Sei Investments Co. raised its holdings in Freeport-McMoran by 0.7% during the 2nd quarter. Sei Investments Co. now owns 159,233 shares of the natural resource company’s stock valued at $1,912,000 after buying an additional 1,070 shares during the period. Korea Investment CORP raised its holdings in Freeport-McMoran by 5.7% during the 2nd quarter. Korea Investment CORP now owns 1,021,487 shares of the natural resource company’s stock valued at $12,268,000 after buying an additional 55,468 shares during the period. Finally, ARP Americas LLC raised its holdings in Freeport-McMoran by 133.3% during the 2nd quarter. ARP Americas LLC now owns 26,128 shares of the natural resource company’s stock valued at $314,000 after buying an additional 14,928 shares during the period. Institutional investors own 68.12% of the company’s stock.
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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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