Freeport-McMoran, Inc. (FCX) Cut to Sell at Deutsche Bank AG

Deutsche Bank AG downgraded shares of Freeport-McMoran, Inc. (NYSE:FCX) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning. The firm currently has $13.00 target price on the natural resource company’s stock.

Other equities research analysts also recently issued reports about the stock. Jefferies Group LLC set a $15.00 price target on shares of Freeport-McMoran and gave the company a buy rating in a research note on Monday, July 10th. ValuEngine raised shares of Freeport-McMoran from a hold rating to a buy rating in a research note on Thursday, July 6th. Vertical Research reaffirmed a buy rating and issued a $20.00 price target on shares of Freeport-McMoran in a research note on Tuesday, August 29th. Zacks Investment Research raised shares of Freeport-McMoran from a hold rating to a buy rating and set a $16.00 price target for the company in a research note on Tuesday, October 10th. Finally, BMO Capital Markets set a $17.00 price target on shares of Freeport-McMoran and gave the company a hold rating in a research note on Wednesday, July 26th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $15.76.

Freeport-McMoran (NYSE:FCX) traded up 0.101% during trading on Tuesday, reaching $14.825. The company’s stock had a trading volume of 10,048,298 shares. The stock’s 50-day moving average is $14.44 and its 200 day moving average is $13.25. Freeport-McMoran has a 12 month low of $9.85 and a 12 month high of $17.06. The company has a market cap of $21.46 billion, a P/E ratio of 20.910 and a beta of 2.54.

Freeport-McMoran (NYSE:FCX) last posted its quarterly earnings results on Tuesday, July 25th. The natural resource company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.04). Freeport-McMoran had a net margin of 5.97% and a return on equity of 10.45%. The company had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.67 billion. During the same period last year, the firm posted ($0.02) earnings per share. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. On average, equities analysts forecast that Freeport-McMoran will post $1.02 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Freeport-McMoran, Inc. (FCX) Cut to Sell at Deutsche Bank AG” was posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this news story on another site, it was stolen and reposted in violation of US and international copyright and trademark laws. The original version of this news story can be viewed at https://ledgergazette.com/2017/10/20/freeport-mcmoran-inc-fcx-cut-to-sell-at-deutsche-bank-ag.html.

In other news, COO Harry M. Iv Conger acquired 36,180 shares of Freeport-McMoran stock in a transaction on Thursday, September 7th. The stock was acquired at an average cost of $15.23 per share, with a total value of $551,021.40. Following the transaction, the chief operating officer now owns 73,943 shares of the company’s stock, valued at approximately $1,126,151.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.29% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. First Manhattan Co. grew its position in Freeport-McMoran by 0.3% in the 2nd quarter. First Manhattan Co. now owns 10,067 shares of the natural resource company’s stock worth $120,000 after purchasing an additional 33 shares in the last quarter. M Holdings Securities Inc. grew its position in Freeport-McMoran by 1.1% in the 1st quarter. M Holdings Securities Inc. now owns 14,396 shares of the natural resource company’s stock worth $192,000 after purchasing an additional 150 shares in the last quarter. Sii Investments Inc. WI grew its position in Freeport-McMoran by 2.3% in the 1st quarter. Sii Investments Inc. WI now owns 13,643 shares of the natural resource company’s stock worth $182,000 after purchasing an additional 305 shares in the last quarter. IHT Wealth Management LLC grew its position in Freeport-McMoran by 27.1% in the 2nd quarter. IHT Wealth

Other equities research analysts also recently issued reports about the stock. Jefferies Group LLC set a $15.00 price target on shares of Freeport-McMoran and gave the company a buy rating in a research note on Monday, July 10th. ValuEngine raised shares of Freeport-McMoran from a hold rating to a buy rating in a research note on Thursday, July 6th. Vertical Research reaffirmed a buy rating and issued a $20.00 price target on shares of Freeport-McMoran in a research note on Tuesday, August 29th. Zacks Investment Research raised shares of Freeport-McMoran from a hold rating to a buy rating and set a $16.00 price target for the company in a research note on Tuesday, October 10th. Finally, BMO Capital Markets set a $17.00 price target on shares of Freeport-McMoran and gave the company a hold rating in a research note on Wednesday, July 26th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $15.76.

Freeport-McMoran (NYSE:FCX) traded up 0.101% during trading on Tuesday, reaching $14.825. The company’s stock had a trading volume of 10,048,298 shares. The stock’s 50-day moving average is $14.44 and its 200 day moving average is $13.25. Freeport-McMoran has a 12 month low of $9.85 and a 12 month high of $17.06. The company has a market cap of $21.46 billion, a P/E ratio of 20.910 and a beta of 2.54.

Freeport-McMoran (NYSE:FCX) last posted its quarterly earnings results on Tuesday, July 25th. The natural resource company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.04). Freeport-McMoran had a net margin of 5.97% and a return on equity of 10.45%. The company had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.67 billion. During the same period last year, the firm posted ($0.02) earnings per share. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. On average, equities analysts forecast that Freeport-McMoran will post $1.02 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Freeport-McMoran, Inc. (FCX) Cut to Sell at Deutsche Bank AG” was posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this news story on another site, it was stolen and reposted in violation of US and international copyright and trademark laws. The original version of this news story can be viewed at https://ledgergazette.com/2017/10/20/freeport-mcmoran-inc-fcx-cut-to-sell-at-deutsche-bank-ag.html.

In other news, COO Harry M. Iv Conger acquired 36,180 shares of Freeport-McMoran stock in a transaction on Thursday, September 7th. The stock was acquired at an average cost of $15.23 per share, with a total value of $551,021.40. Following the transaction, the chief operating officer now owns 73,943 shares of the company’s stock, valued at approximately $1,126,151.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.29% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. First Manhattan Co. grew its position in Freeport-McMoran by 0.3% in the 2nd quarter. First Manhattan Co. now owns 10,067 shares of the natural resource company’s stock worth $120,000 after purchasing an additional 33 shares in the last quarter. M Holdings Securities Inc. grew its position in Freeport-McMoran by 1.1% in the 1st quarter. M Holdings Securities Inc. now owns 14,396 shares of the natural resource company’s stock worth $192,000 after purchasing an additional 150 shares in the last quarter. Sii Investments Inc. WI grew its position in Freeport-McMoran by 2.3% in the 1st quarter. Sii Investments Inc. WI now owns 13,643 shares of the natural resource company’s stock worth $182,000 after purchasing an additional 305 shares in the last quarter. IHT Wealth Management LLC grew its position in Freeport-McMoran by 27.1% in the 2nd quarter. IHT Wealth Management LLC now owns 1,758 shares of the natural resource company’s stock worth $843,000 after purchasing an additional 375 shares in the last quarter. Finally, Guardian Capital Advisors LP grew its position in Freeport-McMoran by 1.2% in the 2nd quarter. Guardian Capital Advisors LP now owns 34,254 shares of the natural resource company’s stock worth $427,000 after purchasing an additional 400 shares in the last quarter. 67.97% of the stock is owned by institutional investors and hedge funds.

About Freeport-McMoran

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.

Analyst Recommendations for Freeport-McMoran (NYSE:FCX)

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