Stock of the Day: Could Freeport-McMoRan Inc See a Reversal After This Very Strong Session?

Stock of the Day: Could Freeport McMoRan Inc See a Reversal After This Very Strong Session?

The stock of Freeport-McMoRan Inc (NYSE:FCX) is a huge mover today! About 18.28 million shares traded hands. Freeport-McMoRan Inc (NYSE:FCX) has risen 18.31% since April 5, 2016 and is uptrending. It has outperformed by 16.35% the S&P500.
The move comes after 7 months positive chart setup for the $16.29 billion company. It was reported on Nov, 8 by Barchart.com. We have $15.25 PT which if reached, will make NYSE:FCX worth $4.40 billion more.

Freeport-McMoRan Inc (NYSE:FCX) Ratings Coverage

Out of 18 analysts covering Freeport-McMoran Copper & Gold (NYSE:FCX), 6 rate it a “Buy”, 5 “Sell”, while 7 “Hold”. This means 33% are positive. Freeport-McMoran Copper & Gold has been the topic of 48 analyst reports since July 28, 2015 according to StockzIntelligence Inc. On Tuesday, October 27 the stock rating was maintained by RBC Capital Markets with “Sector Perform”. Argus Research downgraded the stock to “Hold” rating in Wednesday, February 3 report. Macquarie Research maintained it with “Outperform” rating and $22 target price in Saturday, August 15 report. The stock of Freeport-McMoRan Inc (NYSE:FCX) earned “Neutral” rating by Goldman Sachs on Thursday, May 19. On Thursday, August 20 the stock rating was downgraded by Zacks to “Hold”. The stock of Freeport-McMoRan Inc (NYSE:FCX) earned “Hold” rating by Deutsche Bank on Monday, May 2. The company was maintained on Wednesday, September 14 by Macquarie Research. The stock of Freeport-McMoRan Inc (NYSE:FCX) has “Hold” rating given on Tuesday, September 1 by S&P Research. Cowen & Co maintained the shares of FCX in a report on Friday, July 24 with “Outperform” rating. The rating was maintained by FBR Capital on Thursday, December 10 with “Mkt Perform”.

According to Zacks Investment Research, “Freeport-McMoRan is engaged in mineral exploration and development, mining and milling of copper, gold, and silver in Indonesia, and the smelting and refining of copper concentrates in Spain and Indonesia. They are the world’s lowest-cost copper producer and one of the world’s largest producers of copper and gold. FCX’s operations are conducted through its subsidiaries, P.T. Freeport Indonesia (PT-FI), P.T. IRJA Eastern Minerals Corporation (Eastern Mining) and through Atlantic Copper, S.A. (Atlantic).”

Insitutional Activity: The institutional sentiment decreased to 0.79 in 2016 Q2. Its down 0.08, from 0.87 in 2016Q1. The ratio dived, as 87 funds sold all Freeport-McMoRan Inc shares owned while 221 reduced positions. 68 funds bought stakes while 175 increased positions. They now own 889.86 million shares or 5.15% more from 846.29 million shares in 2016Q1.
Jpmorgan Chase & Co last reported 0.02% of its portfolio in the stock. Tarbox has invested 0% of its portfolio in Freeport-McMoRan Inc (NYSE:FCX). Earnest Partners Ltd Liability accumulated 156,877 shares or 0.02% of the stock. Weatherly Asset Management Ltd Partnership, a California-based fund reported 24,844 shares. Td Asset Mgmt accumulated 660,802 shares or 0.01% of the stock. Loring Wolcott And Coolidge Fiduciary Advsrs Llp Ma accumulated 1,800 shares or 0% of the stock. Commonwealth Financial Bank Of Australia, a Australia-based fund reported 875,263 shares. Bank & Trust Of Montreal Can holds 1.24 million shares or 0.02% of its portfolio. The California-based Cambrian Capital Limited Partnership has invested 0.76% in Freeport-McMoRan Inc (NYSE:FCX). Raymond James Service Inc owns 188,264 shares or 0.02% of their US portfolio. Capstone Asset Management has 0.03% invested in the company for 98,350 shares. Schooner Invest Grp Lc holds 5,000 shares or 0.14% of its portfolio. Charter Co holds 14,347 shares or 0.02% of its portfolio. Aqr Ltd Llc has invested 0.03% of its portfolio in Freeport-McMoRan Inc (NYSE:FCX). Teacher Retirement Of Texas holds 0.07% or 983,023 shares in its portfolio.

Insider Transactions: Since October 27, 2016, the stock had 1 buy, and 0 sales for $1.61 million net activity. 150,000 Freeport-McMoRan Inc (NYSE:FCX) shares with value of $1.61 million were bought by MATHER COURTNEY.

More recent Freeport-McMoRan Inc (NYSE:FCX) news were published by: Fool.com which released: “Better Buy: Freeport-McMoRan Inc. vs. Vale SA” on October 13, 2016. Also Investorplace.com published the news titled: “Freeport-McMoRan Inc (FCX) Stock Follows Copper Prices Down” on October 13, 2016. Wsj.com‘s news article titled: “Freeport-McMoRan Swings to Profit After String of Losses” with publication date: October 25, 2016 was also an interesting one.

FCX Company Profile

Freeport-McMoRan Inc. (FCX), incorporated on November 10, 1987, is a natural resource firm with a portfolio of mineral assets, and oil and natural gas resources. The Company’s divisions include the Morenci, Cerro Verde, Grasberg and Tenke Fungurume copper mines, the Rod & Refining activities and the U.S. Oil & Gas Operations. FCX has organized its activities into five primary divisions: North America copper mines, South America mining, Indonesia mining, Africa mining and Molybdenum mines. The Company’s portfolio of assets includes the Grasberg minerals district in Indonesia, mining activities in North and South America, the Tenke Fungurume (Tenke) minerals district in the Democratic Republic of Congo (DRC) in Africa, and oil and natural gas assets in the United States.

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