Freeport-McMoRan Inc. (NYSE:FCX) Given Average Rating of “Hold” by Analysts

Shares of Freeport-McMoRan Inc. (NYSE:FCXGet Rating) have received a consensus rating of “Hold” from the sixteen analysts that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $46.57.

Several equities research analysts have recently weighed in on the stock. BNP Paribas cut shares of Freeport-McMoRan from an “outperform” rating to a “neutral” rating and set a $50.00 price objective for the company. in a research report on Tuesday, April 5th. Stifel Nicolaus increased their price objective on shares of Freeport-McMoRan from $49.00 to $54.00 in a research report on Thursday, March 17th. Royal Bank of Canada increased their price objective on shares of Freeport-McMoRan from $46.00 to $47.00 and gave the stock a “sector perform” rating in a research report on Friday, April 22nd. Deutsche Bank Aktiengesellschaft cut their target price on shares of Freeport-McMoRan from $50.00 to $47.00 and set a “hold” rating on the stock in a research note on Friday, April 22nd. Finally, Wolfe Research cut their target price on shares of Freeport-McMoRan from $47.00 to $45.00 and set an “outperform” rating on the stock in a research note on Thursday, January 27th.

In other Freeport-McMoRan news, VP C Donald Whitmire, Jr. sold 44,000 shares of the company’s stock in a transaction dated Wednesday, February 9th. The shares were sold at an average price of $43.44, for a total value of $1,911,360.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kathleen L. Quirk sold 80,000 shares of the company’s stock in a transaction dated Wednesday, February 16th. The stock was sold at an average price of $44.02, for a total transaction of $3,521,600.00. The disclosure for this sale can be found here. Insiders sold 164,670 shares of company stock worth $7,002,730 over the last ninety days. Insiders own 0.72% of the company’s stock.

A number of hedge funds have recently modified their holdings of FCX. Hollencrest Capital Management grew its position in shares of Freeport-McMoRan by 0.7% during the 1st quarter. Hollencrest Capital Management now owns 27,728 shares of the natural resource company’s stock valued at $1,379,000 after acquiring an additional 200 shares during the period. Lowe Wealth Advisors LLC grew its position in shares of Freeport-McMoRan by 8.6% during the 1st quarter. Lowe Wealth Advisors LLC now owns 3,159 shares of the natural resource company’s stock valued at $157,000 after acquiring an additional 250 shares during the period. Silvercrest Asset Management Group LLC grew its position in shares of Freeport-McMoRan by 3.5% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 7,447 shares of the natural resource company’s stock valued at $311,000 after acquiring an additional 250 shares during the period. People s United Financial Inc. grew its position in shares of Freeport-McMoRan by 0.9% during the 3rd quarter. People s United Financial Inc. now owns 27,531 shares of the natural resource company’s stock valued at $896,000 after acquiring an additional 256 shares during the period. Finally, Lindbrook Capital LLC grew its position in shares of Freeport-McMoRan by 5.7% during the 1st quarter. Lindbrook Capital LLC now owns 4,816 shares of the natural resource company’s stock valued at $240,000 after acquiring an additional 260 shares during the period. 76.05% of the stock is owned by institutional investors and hedge funds.

FCX opened at $41.84 on Friday. Freeport-McMoRan has a twelve month low of $30.02 and a twelve month high of $51.99. The company has a quick ratio of 1.75, a current ratio of 2.37 and a debt-to-equity ratio of 0.34. The company has a fifty day moving average of $47.45 and a 200-day moving average of $42.38. The stock has a market cap of $60.87 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 0.39 and a beta of 2.00.

Freeport-McMoRan (NYSE:FCXGet Rating) last posted its quarterly earnings data on Thursday, April 21st. The natural resource company reported $1.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.13. Freeport-McMoRan had a net margin of 20.79% and a return on equity of 24.06%. The company had revenue of $6.60 billion during the quarter, compared to analysts’ expectations of $6.29 billion. During the same period in the prior year, the company posted $0.51 earnings per share. Freeport-McMoRan’s revenue for the quarter was up 36.1% compared to the same quarter last year. Sell-side analysts anticipate that Freeport-McMoRan will post 3.88 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 2nd. Shareholders of record on Thursday, April 14th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date is Wednesday, April 13th. Freeport-McMoRan’s dividend payout ratio (DPR) is 8.70%.

About Freeport-McMoRan (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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Analyst Recommendations for Freeport-McMoRan (NYSE:FCX)

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