Freeport-McMoRan (NYSE:FCX)‘s stock had its “neutral” rating reissued by research analysts at B. Riley in a research note issued on Thursday. They presently have a $18.00 price objective on the natural resource company’s stock, up from their prior price objective of $16.00. B. Riley’s price target indicates a potential downside of 9.82% from the company’s previous close. B. Riley also issued estimates for Freeport-McMoRan’s Q4 2017 earnings at $0.48 EPS, FY2017 earnings at $1.13 EPS, Q1 2018 earnings at $0.49 EPS, Q2 2018 earnings at $0.47 EPS, Q3 2018 earnings at $0.41 EPS, Q4 2018 earnings at $0.41 EPS and FY2018 earnings at $1.79 EPS.
FCX has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Tuesday, October 10th. Royal Bank of Canada set a $14.00 price objective on shares of Freeport-McMoRan and gave the stock a “hold” rating in a research note on Wednesday, October 11th. Jefferies Group reiterated a “buy” rating and set a $19.00 price objective (down from $23.00) on shares of Freeport-McMoRan in a research note on Wednesday, October 4th. FBR & Co set a $12.00 price objective on shares of Freeport-McMoRan and gave the stock a “hold” rating in a research note on Friday, October 20th. Finally, UBS Group increased their price objective on shares of Freeport-McMoRan from $13.50 to $14.00 and gave the stock a “neutral” rating in a research note on Monday, October 30th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $15.89.
Shares of Freeport-McMoRan (NYSE FCX) opened at $19.96 on Thursday. The stock has a market cap of $28,083.24, a PE ratio of 26.97 and a beta of 2.53. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.32 and a current ratio of 2.02. Freeport-McMoRan has a one year low of $11.05 and a one year high of $20.16.
Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Wednesday, October 25th. The natural resource company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. The firm had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.06 billion. Freeport-McMoRan had a net margin of 6.20% and a return on equity of 13.35%. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.13 earnings per share. equities analysts predict that Freeport-McMoRan will post 1.13 EPS for the current fiscal year.
Several hedge funds have recently bought and sold shares of the company. State of Alaska Department of Revenue lifted its holdings in shares of Freeport-McMoRan by 78.1% in the fourth quarter. State of Alaska Department of Revenue now owns 155,726 shares of the natural resource company’s stock worth $2,950,000 after acquiring an additional 68,310 shares during the last quarter. CAPROCK Group Inc. bought a new position in Freeport-McMoRan in the 4th quarter valued at approximately $311,000. Schwab Charles Investment Management Inc. raised its holdings in Freeport-McMoRan by 1.6% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 6,061,699 shares of the natural resource company’s stock valued at $114,930,000 after buying an additional 97,798 shares during the last quarter. Creative Planning raised its holdings in Freeport-McMoRan by 16.7% in the 4th quarter. Creative Planning now owns 371,284 shares of the natural resource company’s stock valued at $7,040,000 after buying an additional 53,080 shares during the last quarter. Finally, Gibraltar Capital Management Inc. raised its holdings in Freeport-McMoRan by 7.3% in the 4th quarter. Gibraltar Capital Management Inc. now owns 335,570 shares of the natural resource company’s stock valued at $6,362,000 after buying an additional 22,810 shares during the last quarter. 68.06% of the stock is owned by hedge funds and other institutional investors.
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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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