FBR & Co reiterated their neutral rating on shares of Freeport-McMoran, Inc. (NYSE:FCX) in a report issued on Thursday morning. The brokerage currently has a $12.00 target price on the natural resource company’s stock, down from their prior target price of $13.00.
Other equities analysts also recently issued research reports about the company. Clarkson Capital reiterated a neutral rating on shares of Freeport-McMoran in a research note on Monday, July 10th. ValuEngine downgraded Freeport-McMoran from a buy rating to a hold rating in a research note on Thursday, July 13th. BidaskClub upgraded Freeport-McMoran from a sell rating to a hold rating in a research note on Monday, July 24th. BMO Capital Markets set a $17.00 price target on Freeport-McMoran and gave the company a hold rating in a research note on Wednesday, July 26th. Finally, Berenberg Bank reiterated a sell rating and set a $10.40 price target on shares of Freeport-McMoran in a research note on Tuesday, September 5th. Two 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 assigned a strong buy rating to the company’s stock. Freeport-McMoran has an average rating of Hold and an average target price of $15.51.
Freeport-McMoran (FCX) opened at 13.88 on Thursday. Freeport-McMoran has a 12 month low of $9.24 and a 12 month high of $17.06. The firm has a market capitalization of $20.09 billion, a PE ratio of 19.58 and a beta of 2.57. The company’s 50-day moving average price is $14.59 and its 200 day moving average price is $12.97.
Freeport-McMoran (NYSE:FCX) last issued its earnings results on Tuesday, July 25th. The natural resource company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.04). The firm had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.67 billion. Freeport-McMoran had a net margin of 5.97% and a return on equity of 10.45%. The business’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.02) earnings per share. On average, equities research analysts predict that Freeport-McMoran will post $0.94 earnings per share for the current year.
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In other news, COO Harry M. Iv Conger acquired 36,180 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The shares were acquired at an average price of $15.23 per share, for a total transaction of $551,021.40. Following the completion of the purchase, the chief operating officer now owns 73,943 shares in the company, valued at $1,126,151.89. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.40% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the stock. Intl Fcstone Inc. purchased a new position in Freeport-McMoran in the second quarter valued at approximately $445,000. Lord Abbett & CO. LLC lifted its stake in Freeport-McMoran by 8.7% in the second quarter. Lord Abbett & CO. LLC now owns 2,055,772 shares of the natural resource company’s stock valued at $24,690,000 after purchasing an additional 164,100 shares during the last quarter. Sentry Investment Management LLC lifted its stake in Freeport-McMoran by 22.9% in the second quarter. Sentry Investment Management LLC now owns 105,176 shares of the natural resource company’s stock valued at $1,263,000 after purchasing an additional 19,584 shares during the last quarter. Toronto Dominion Bank lifted its stake in Freeport-McMoran by 25.3% in the second quarter. Toronto Dominion Bank now owns 460,229 shares of the natural resource company’s stock valued at $5,527,000 after purchasing an additional 92,843 shares during the last quarter. Finally, Cetera Investment Advisers purchased a new position in Freeport-McMoran in the second quarter valued at approximately $1,315,000. Institutional investors and hedge funds own 67.95% of the company’s stock.
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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