The stock of Freeport-McMoRan Inc (NYSE:FCX) is a huge mover today! About 12.14 million shares traded hands. Freeport-McMoRan Inc (NYSE:FCX) has risen 21.25% since April 28, 2016 and is uptrending. It has outperformed by 15.32% the S&P500.
The move comes after 8 months positive chart setup for the $21.82 billion company. It was reported on Dec, 1 by Barchart.com. We have $17.04 PT which if reached, will make NYSE:FCX worth $1.96B more.
Analysts await Freeport-McMoRan Inc (NYSE:FCX) to report earnings on January, 24. They expect $0.26 earnings per share, up 1,400.00% or $0.28 from last year’s $-0.02 per share. FCX’s profit will be $362.97 million for 15.03 P/E if the $0.26 EPS becomes a reality. After $0.13 actual earnings per share reported by Freeport-McMoRan Inc for the previous quarter, Wall Street now forecasts 100.00% EPS growth.
Freeport-McMoRan Inc (NYSE:FCX) Ratings Coverage
Out of 19 analysts covering Freeport-McMoran Copper & Gold (NYSE:FCX), 5 rate it a “Buy”, 6 “Sell”, while 8 “Hold”. This means 26% are positive. Freeport-McMoran Copper & Gold has been the topic of 51 analyst reports since July 28, 2015 according to StockzIntelligence Inc. Cowen & Co maintained Freeport-McMoRan Inc (NYSE:FCX) rating on Monday, November 21. Cowen & Co has “Outperform” rating and $20 price target. The stock of Freeport-McMoRan Inc (NYSE:FCX) has “Mkt Perform” rating given on Wednesday, July 20 by FBR Capital. The firm earned “Mkt Perform” rating on Friday, September 18 by FBR Capital. The rating was maintained by Cowen & Co with “Outperform” on Monday, May 16. The firm has “Neutral” rating given on Tuesday, September 1 by Citigroup. S&P Research upgraded the stock to “Hold” rating in Tuesday, September 1 report. The rating was reinitiated by Bank of America with “Underperform” on Monday, October 17. The firm has “Underweight” rating given on Wednesday, September 14 by Morgan Stanley. The stock has “Neutral” rating given by Macquarie Research on Wednesday, September 14. The company was downgraded on Tuesday, January 12 by Jefferies.
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 increased to 0.98 in Q2 2016. Its up 0.19, from 0.79 in 2016Q1. The ratio improved, 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.
Arrow Inv Advisors Lc, a Maryland-based fund reported 132,163 shares. Geode Cap Mgmt Limited Liability Co has 0.06% invested in the company for 10.14M shares. Wfg Advsrs Limited Partnership accumulated 22,597 shares or 0.07% of the stock. Dreman Value L L C holds 0.01% or 975 shares in its portfolio. Neville Rodie & Shaw holds 0.04% of its portfolio in Freeport-McMoRan Inc (NYSE:FCX) for 26,759 shares. Natl Asset Mngmt last reported 0.06% of its portfolio in the stock. Private Advisor Grp has invested 0.02% of its portfolio in Freeport-McMoRan Inc (NYSE:FCX). Flippin Bruce And Porter Incorporated holds 0.4% or 121,112 shares in its portfolio. Millennium Mngmt Limited Liability Corp has 307,176 shares for 0.01% of their US portfolio. The Iowa-based Iowa Financial Bank has invested 0% in Freeport-McMoRan Inc (NYSE:FCX). Greenwich Wealth Mgmt Ltd Liability Corporation holds 0.06% of its portfolio in Freeport-McMoRan Inc (NYSE:FCX) for 344,600 shares. The Massachusetts-based Hall Laurie J Trustee has invested 0.01% in Freeport-McMoRan Inc (NYSE:FCX). Us Retail Bank De holds 0.01% or 197,605 shares in its portfolio. Gideon Capital Advisors Incorporated accumulated 0.24% or 36,847 shares. Retirement Systems Of Alabama holds 638,355 shares or 0.04% of its portfolio.
Insider Transactions: Since October 27, 2016, the stock had 1 insider purchase, and 0 sales for $1.61 million net activity. 150,000 Freeport-McMoRan Inc (NYSE:FCX) shares with value of $1.61M were bought by MATHER COURTNEY.
Another recent and important Freeport-McMoRan Inc (NYSE:FCX) news was published by Fool.com which published an article titled: “Better Buy: Freeport-McMoRan Inc. vs. Hecla Mining” on November 21, 2016.
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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