FCX has been the subject of a number of other research reports. Zacks Investment Research raised shares of Freeport-McMoRan from a hold rating to a buy rating and set a $15.00 price target for the company in a report on Monday, April 8th. Raymond James reaffirmed a market perform rating and set a $14.00 target price on shares of Freeport-McMoRan in a research note on Friday, April 26th. BMO Capital Markets set a $14.00 price target on shares of Freeport-McMoRan and gave the company a hold rating in a research report on Friday, April 26th. Barclays lifted their price target on shares of Freeport-McMoRan from $11.00 to $12.00 and gave the company an underweight rating in a research report on Tuesday, April 9th. Finally, Morgan Stanley upgraded shares of Freeport-McMoRan from an equal weight rating to an overweight rating and dropped their price target for the company from $16.00 to $14.00 in a research report on Tuesday, February 12th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. Freeport-McMoRan currently has an average rating of Hold and an average target price of $15.01.
NYSE:FCX traded up $0.02 during midday trading on Monday, reaching $11.36. 221,945 shares of the stock traded hands, compared to its average volume of 20,173,806. Freeport-McMoRan has a 12-month low of $9.47 and a 12-month high of $18.14. The firm has a 50-day moving average price of $10.59. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.79 and a quick ratio of 1.41. The company has a market cap of $16.35 billion, a PE ratio of 7.49 and a beta of 2.27.
Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Thursday, April 25th. The natural resource company reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.03). The firm had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.77 billion. Freeport-McMoRan had a net margin of 9.09% and a return on equity of 10.31%. The company’s revenue was down 22.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.46 EPS. Equities analysts forecast that Freeport-McMoRan will post 0.4 EPS for the current year.
In related news, CFO Kathleen L. Quirk acquired 50,000 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were acquired at an average cost of $10.49 per share, for a total transaction of $524,500.00. Following the completion of the purchase, the chief financial officer now directly owns 920,769 shares in the company, valued at $9,658,866.81. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Richard C. Adkerson purchased 172,000 shares of Freeport-McMoRan stock in a transaction dated Thursday, June 6th. The shares were purchased at an average price of $10.14 per share, with a total value of $1,744,080.00. The disclosure for this purchase can be found here. Company insiders own 0.98% of the company’s stock.
A number of institutional investors have recently bought and sold shares of FCX. Rational Advisors LLC acquired a new position in shares of Freeport-McMoRan during the fourth quarter valued at $26,000. Lindbrook Capital LLC acquired a new position in shares of Freeport-McMoRan during the fourth quarter valued at $28,000. JOYN Advisors Inc. lifted its stake in shares of Freeport-McMoRan by 141.1% during the fourth quarter. JOYN Advisors Inc. now owns 2,806 shares of the natural resource company’s stock valued at $29,000 after acquiring an additional 1,642 shares during the period. Athena Capital Advisors LLC acquired a new position in shares of Freeport-McMoRan during the fourth quarter valued at $30,000. Finally, TCG Advisors LP acquired a new position in shares of Freeport-McMoRan during the first quarter valued at $33,000. 72.46% of the stock is currently owned by institutional investors.
Freeport-McMoRan, Inc engages in the mining of copper, gold, and molybdenum. It operates through the following segments: North America Copper Mines; South America Mining; Indonesia Mining; Molybdenum Mines; Rod and Refining; Atlantic Copper Smelting and Refining; and Corporate, Other, and Eliminations.
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