Jefferies Group set a $25.00 price target on Freeport-McMoRan (NYSE:FCX) in a research report released on Monday. The brokerage currently has a buy rating on the natural resource company’s stock. Jefferies Group also issued estimates for Freeport-McMoRan’s FY2018 earnings at $2.17 EPS and FY2020 earnings at $2.92 EPS.
A number of other brokerages have also recently commented on FCX. Morgan Stanley lifted their target price on shares of Freeport-McMoRan from $14.00 to $15.00 and gave the company a hold rating in a report on Monday, March 26th. Goldman Sachs started coverage on shares of Freeport-McMoRan in a report on Tuesday, March 20th. They issued a buy rating and a $23.00 target price on the stock. Royal Bank of Canada lifted their target price on shares of Freeport-McMoRan to $22.00 and gave the company a sector perform rating in a report on Monday, March 12th. UBS lifted their target price on shares of Freeport-McMoRan from $14.00 to $18.50 and gave the company a neutral rating in a report on Tuesday, March 6th. Finally, ValuEngine raised shares of Freeport-McMoRan from a hold rating to a buy rating in a report on Tuesday, February 20th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $17.41.
FCX stock opened at $17.86 on Monday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.37 and a current ratio of 2.14. Freeport-McMoRan has a twelve month low of $11.05 and a twelve month high of $20.25. The company has a market cap of $26,350.76, a price-to-earnings ratio of 15.26 and a beta of 2.42.
Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Thursday, January 25th. The natural resource company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.02. Freeport-McMoRan had a net margin of 11.08% and a return on equity of 16.57%. The company had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter last year, the company earned $0.25 earnings per share. The firm’s revenue for the quarter was up 15.2% on a year-over-year basis. analysts predict that Freeport-McMoRan will post 2.35 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Friday, April 13th will be given a $0.05 dividend. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $0.20 dividend on an annualized basis and a yield of 1.12%.
In related news, VP C Donald Whitmire, Jr. sold 21,500 shares of Freeport-McMoRan stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $19.49, for a total value of $419,035.00. Following the transaction, the vice president now directly owns 70,239 shares in the company, valued at approximately $1,368,958.11. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.29% of the company’s stock.
A number of large investors have recently bought and sold shares of FCX. American Beacon Advisors Inc. purchased a new stake in shares of Freeport-McMoRan during the 4th quarter worth $131,000. Belpointe Asset Management LLC purchased a new stake in shares of Freeport-McMoRan during the 3rd quarter worth $150,000. Americafirst Capital Management LLC purchased a new stake in shares of Freeport-McMoRan during the 3rd quarter worth $170,000. Thompson Davis & CO. Inc. boosted its position in shares of Freeport-McMoRan by 756.8% during the 4th quarter. Thompson Davis & CO. Inc. now owns 9,348 shares of the natural resource company’s stock worth $177,000 after purchasing an additional 8,257 shares in the last quarter. Finally, Ballew Advisors Inc purchased a new stake in shares of Freeport-McMoRan during the 4th quarter worth $190,000. Hedge funds and other institutional investors own 70.14% of the company’s stock.
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Freeport-McMoRan Inc engages in the mining of mineral properties in the United States, Indonesia, Peru, and Chile. The company primarily explores for copper, gold, molybdenum, silver, and other metals, as well as oil and gas. Its assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde and El Abra mines in South America.
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