Freeport-McMoRan (NYSE:FCX) Upgraded to Buy at Deutsche Bank Aktiengesellschaft
Deutsche Bank Aktiengesellschaft upgraded shares of Freeport-McMoRan (NYSE:FCX[1] - Free Report[2]) from a hold rating to a buy rating in a research report released on Thursday morning, MarketBeat.com[3] reports. Deutsche Bank Aktiengesellschaft currently has £47.00 target price on the natural resource company's stock. FCX has been the topic of a number of other reports.
Argus lowered shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. Scotiabank dropped their price target on shares of Freeport-McMoRan from £48.00 to £45.00 and set a "sector perform" rating on the stock in a research report on Friday, January 24th. Jefferies Financial Group raised shares of Freeport-McMoRan from a "hold" rating to a "buy" rating and raised their price target for the company from £40.00 to £48.00 in a research report on Thursday, February 27th.
Sanford C. Bernstein lowered shares of Freeport-McMoRan from an "outperform" rating to a "market perform" rating and dropped their price target for the company from £51.00 to £46.00 in a research report on Tuesday, January 7th. Finally, BMO Capital Markets lowered their price objective on shares of Freeport-McMoRan from £54.00 to £50.00 and set an "outperform" rating on the stock in a research report on Friday, January 24th.
Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Freeport-McMoRan has a consensus rating of "Moderate Buy" and a consensus price target of £51.75. Check Out Our Latest Analysis on FCX[4]
Freeport-McMoRan Stock Down 1.9 %
Shares of Freeport-McMoRan stock[5] traded down £0.71 during trading hours on Thursday, reaching £36.97.
The company's stock had a trading volume of 16,963,046 shares, compared to its average volume of 15,184,150. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. The stock's fifty day simple moving average is £38.06 and its two-hundred day simple moving average is £42.35.
Freeport-McMoRan has a one year low of £34.26 and a one year high of £55.24. The company has a market capitalization of £53.13 billion, a P/E ratio of 28.66, a P/E/G ratio of 0.87 and a beta of 1.87. Freeport-McMoRan (NYSE:FCX[6] - Get Free Report[7]) last released its quarterly earnings results on Thursday, January 23rd.
The natural resource company reported £0.31 earnings per share for the quarter, missing analysts' consensus estimates of £0.36 by (£0.05). Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. On average, research analysts forecast that Freeport-McMoRan will post 1.68 earnings per share for the current year.
Hedge Funds Weigh In On Freeport-McMoRan
Large investors have recently modified their holdings of the business.
Asset Planning Inc purchased a new position in Freeport-McMoRan during the fourth quarter valued at approximately £25,000. Mizuho Bank Ltd. purchased a new position in Freeport-McMoRan during the fourth quarter valued at approximately £26,000. Vision Financial Markets LLC purchased a new position in Freeport-McMoRan during the fourth quarter valued at approximately £27,000.
Laurel Wealth Advisors LLC grew its stake in Freeport-McMoRan by 487.8% during the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company's stock valued at £28,000 after acquiring an additional 600 shares in the last quarter. Finally, Roxbury Financial LLC purchased a new position in Freeport-McMoRan during the fourth quarter valued at approximately £28,000.
Hedge funds and other institutional investors own 80.77% of the company's stock.
About Freeport-McMoRan
(Get Free Report[8])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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References
- ^ NYSE:FCX (www.marketbeat.com)
- ^ Free Report (www.marketbeat.com)
- ^ MarketBeat.com (www.marketbeat.com)
- ^ Check Out Our Latest Analysis on FCX (www.marketbeat.com)
- ^ Freeport-McMoRan stock (www.marketbeat.com)
- ^ NYSE:FCX (www.marketbeat.com)
- ^ Get Free Report (www.marketbeat.com)
- ^ Get Free Report (www.marketbeat.com)
- ^ five stocks (www.marketbeat.com)
- ^ View The Five Stocks Here (www.marketbeat.com)
- ^ Get This Free Report (marketbeat.com)