Freeport-McMoRan (NYSE:FCX) Hits New 1-Year High at $46.49

Freeport-McMoRan logoFreeport-McMoRan Inc. (NYSE:FCX[1] - Get Free Report[2]) shares reached a new 52-week high on Monday . The stock traded as high as £46.49 and last traded at £45.92, with a volume of 1516065 shares trading hands. The stock had previously closed at £45.10.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock.

UBS Group dropped their target price on shares of Freeport-McMoRan from £42.00 to £41.00 and set a "neutral" rating on the stock in a research report on Wednesday, December 13th. Sanford C. Bernstein raised shares of Freeport-McMoRan from a "market perform" rating to an "outperform" rating and upped their price objective for the company from £41.00 to £48.50 in a research report on Monday, January 8th.

Morgan Stanley reduced their target price on shares of Freeport-McMoRan from £41.00 to £40.00 and set an "equal weight" rating for the company in a research note on Thursday, December 7th. Raymond James boosted their price target on Freeport-McMoRan from £42.00 to £43.00 and gave the company an "outperform" rating in a research note on Thursday, January 4th. Finally, Eight Capital set a £55.00 price objective on Freeport-McMoRan and gave the stock a "buy" rating in a report on Wednesday, December 6th.

One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, Freeport-McMoRan has a consensus rating of "Hold" and a consensus target price of £44.95. Read Our Latest Stock Report on Freeport-McMoRan[3]

Freeport-McMoRan Trading Down 1.3 %

The company has a 50 day moving average of £39.93 and a 200 day moving average of £38.57.

The firm has a market cap of £64.21 billion, a price-to-earnings ratio of 35.25 and a beta of 2.02. The company has a current ratio of 2.42, a quick ratio of 1.38 and a debt-to-equity ratio of 0.32.

Freeport-McMoRan (NYSE:FCX[4] - Get Free Report[5]) last issued its earnings results on Wednesday, January 24th. The natural resource company reported £0.27 EPS for the quarter, beating the consensus estimate of £0.23 by £0.04.

The company had revenue of £5.91 billion for the quarter, compared to the consensus estimate of £5.85 billion. Freeport-McMoRan had a net margin of 8.09% and a return on equity of 8.41%. The firm's revenue for the quarter was up 2.6% compared to the same quarter last year.

During the same quarter in the previous year, the company earned £0.52 EPS. As a group, research analysts anticipate that Freeport-McMoRan Inc. will post 1.53 EPS for the current year.

Institutional Trading of Freeport-McMoRan

Several large investors have recently added to or reduced their stakes in FCX. Fairfield Bush & CO. bought a new stake in Freeport-McMoRan during the 1st quarter worth approximately £26,000.

Bruce G. Allen Investments LLC acquired a new position in Freeport-McMoRan in the fourth quarter worth £27,000. KB Financial Partners LLC bought a new stake in shares of Freeport-McMoRan during the first quarter worth £26,000.

Jones Financial Companies Lllp raised its holdings in shares of Freeport-McMoRan by 422.2% in the fourth quarter. Jones Financial Companies Lllp now owns 658 shares of the natural resource company's stock valued at £28,000 after buying an additional 532 shares during the last quarter. Finally, Retirement Group LLC lifted its position in Freeport-McMoRan by 97.1% during the 2nd quarter.

Retirement Group LLC now owns 670 shares of the natural resource company's stock worth £27,000 after buying an additional 330 shares in the last quarter.

80.77% of the stock is owned by institutional investors.

Freeport-McMoRan Company Profile

(Get Free Report[6]) Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. It primarily explores for copper, gold, molybdenum, silver, and other metals.

The company's assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Chino and Tyrone 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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