B. Riley set a $13.00 target price on Freeport-McMoran (NYSE:FCX) in a research report sent to investors on Wednesday morning. The brokerage currently has a hold rating on the natural resource company’s stock.
Other analysts also recently issued reports about the stock. Vertical Research reaffirmed a buy rating and issued a $20.00 target price on shares of Freeport-McMoran in a research report on Tuesday, August 29th. Jefferies Group set a $18.00 price objective on shares of Freeport-McMoran and gave the company a buy rating in a research report on Monday, August 28th. ValuEngine raised shares of Freeport-McMoran from a hold rating to a buy rating in a research report on Thursday, August 31st. Zacks Investment Research raised shares of Freeport-McMoran from a hold rating to a buy rating and set a $16.00 price objective on the stock in a research report on Tuesday, October 10th. Finally, Royal Bank Of Canada set a $14.00 price objective on shares of Freeport-McMoran and gave the company a hold rating in a research report on Wednesday, October 11th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Hold and an average target price of $15.57.
Shares of Freeport-McMoran (FCX) opened at $14.97 on Wednesday. The firm has a market cap of $21,482.23, a PE ratio of 16.31 and a beta of 2.56. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.02 and a quick ratio of 1.32. Freeport-McMoran has a 1 year low of $11.05 and a 1 year high of $17.06.
Freeport-McMoran (NYSE:FCX) last released its earnings results on Wednesday, October 25th. The natural resource company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.03. The firm had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.06 billion. Freeport-McMoran had a net margin of 6.20% and a return on equity of 13.35%. The company’s revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.13 EPS. research analysts anticipate that Freeport-McMoran will post 1.07 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Visionary Asset Management Inc. bought a new position in Freeport-McMoran during the 3rd quarter valued at about $215,000. GSA Capital Partners LLP bought a new position in Freeport-McMoran during the 3rd quarter valued at about $303,000. Americafirst Capital Management LLC bought a new position in Freeport-McMoran during the 3rd quarter valued at about $170,000. Belpointe Asset Management LLC bought a new position in Freeport-McMoran during the 3rd quarter valued at about $150,000. Finally, Ladenburg Thalmann Financial Services Inc. lifted its stake in Freeport-McMoran by 5.5% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 159,535 shares of the natural resource company’s stock valued at $2,245,000 after acquiring an additional 8,321 shares during the period. Institutional investors and hedge funds own 68.12% of the company’s stock.
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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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