Freeport-McMoRan (NYSE:FCX) PT Lowered to $56.00

Freeport-McMoRan (NYSE:FCXGet Rating) had its target price reduced by analysts at BMO Capital Markets from $62.00 to $56.00 in a report released on Friday, The Fly reports. BMO Capital Markets’ target price would indicate a potential upside of 24.58% from the stock’s current price.

Several other research analysts have also commented on the company. Jefferies Financial Group lifted their target price on Freeport-McMoRan from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, March 24th. StockNews.com upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Tuesday, April 5th. Deutsche Bank Aktiengesellschaft decreased their target price on Freeport-McMoRan from $50.00 to $47.00 and set a “hold” rating for the company in a research report on Friday. Morgan Stanley lifted their target price on Freeport-McMoRan from $34.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 23rd. Finally, Stifel Nicolaus lifted their target price on Freeport-McMoRan from $49.00 to $54.00 in a research report on Thursday, March 17th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $45.67.

Shares of NYSE FCX opened at $44.95 on Friday. Freeport-McMoRan has a fifty-two week low of $30.02 and a fifty-two week high of $51.99. The business has a 50 day moving average price of $47.59 and a two-hundred day moving average price of $42.02. The company has a quick ratio of 1.75, a current ratio of 2.52 and a debt-to-equity ratio of 0.39. The firm has a market cap of $65.39 billion, a PE ratio of 15.55, a price-to-earnings-growth ratio of 0.44 and a beta of 2.00.

Freeport-McMoRan (NYSE:FCXGet Rating) last issued its quarterly earnings data on Thursday, April 21st. The natural resource company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.23. Freeport-McMoRan had a return on equity of 21.55% and a net margin of 18.85%. The firm had revenue of $6.60 billion during the quarter, compared to analyst estimates of $6.29 billion. During the same quarter last year, the firm earned $0.51 EPS. Freeport-McMoRan’s quarterly revenue was up 36.1% on a year-over-year basis. On average, analysts anticipate that Freeport-McMoRan will post 3.86 earnings per share for the current year.

In other Freeport-McMoRan news, CFO Kathleen L. Quirk sold 80,000 shares of Freeport-McMoRan stock in a transaction on Wednesday, February 16th. The stock was sold at an average price of $44.02, for a total transaction of $3,521,600.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Kathleen L. Quirk sold 40,500 shares of the business’s stock in a transaction on Friday, February 4th. The stock was sold at an average price of $38.55, for a total value of $1,561,275.00. The disclosure for this sale can be found here. Insiders have sold a total of 164,670 shares of company stock worth $7,002,730 in the last ninety days. 0.72% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. St. Johns Investment Management Company LLC bought a new stake in shares of Freeport-McMoRan in the 1st quarter worth $25,000. Raleigh Capital Management Inc. bought a new stake in shares of Freeport-McMoRan in the 4th quarter worth $25,000. Tompkins Financial Corp raised its stake in shares of Freeport-McMoRan by 195.5% in the 4th quarter. Tompkins Financial Corp now owns 591 shares of the natural resource company’s stock worth $25,000 after buying an additional 391 shares in the last quarter. Key Financial Inc raised its stake in shares of Freeport-McMoRan by 526.0% in the 4th quarter. Key Financial Inc now owns 626 shares of the natural resource company’s stock worth $26,000 after buying an additional 526 shares in the last quarter. Finally, JCIC Asset Management Inc. raised its stake in shares of Freeport-McMoRan by 1,190.0% in the 4th quarter. JCIC Asset Management Inc. now owns 645 shares of the natural resource company’s stock worth $27,000 after buying an additional 595 shares in the last quarter. 76.05% of the stock is currently owned by institutional investors.

Freeport-McMoRan Company Profile (Get Rating)

Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. 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 in Peru and El Abra in Chile.

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