Economy

Freeport-McMoran, Inc. (FCX) Research Coverage Started at Macquarie

Freeport-McMoran, Inc. (FCX) Research Coverage Started at Macquarie”

Sun Life Financial INC now owns 9,644 shares of the natural resource company's stock valued at $116,000 after buying an additional 9,634 shares in the last quarter. The shares price has positioned 20.52% up over the past quarter while it has directed 8.11% toward a rising position throughout past six months. The stock has a market cap of $20.07 billion, a price-to-earnings ratio of 19.56 and a beta of 2.57. About 1.54M shares traded. Cummins Inc. (NYSE:CMI) has risen 43.32% since September 15, 2016 and is uptrending. It has underperformed by 16.70% the S&P500. Vanguard Group Inc. now owns 132,991,679 shares of the natural resource company's stock valued at $1,776,769,000 after acquiring an additional 12,897,514 shares during the period. Duquesne Family Office Llc who had been investing in Freeport for a number of months, seems to be less bullish one the $20.13B market cap company. The stock rose 0.36% or $0.05 reaching $13.91. Given that liquidity is king in short-term, M is a stock with 310.27 million shares outstanding that normally trades 11.71% of its float.

Freeport-McMoran, Inc. (NYSE:FCX) shares are among the most active today and have moved within the range of $13.820 to $14.050 during the current session. (NYSE:CMI) for 4,000 shares. Horan Capital Mngmt accumulated 21,394 shares. Insiders own 1.40% of the company's stock. Ward Pat sold $2.30M worth of Cummins Inc. The stock had a trading volume of 19,695,252 shares.

Covering sell-side analysts have recently weighed in on shares of Newell Brands Inc. Therefore 23% are positive. The rating was initiated by Citigroup with "Neutral" on Tuesday, February 21. The rating was downgraded by Robert W. Baird to "Neutral" on Thursday, March 10. The stock has "Underperform" rating by Robert W. Baird on Thursday, April 21. The firm has "Buy" rating given on Monday, August 31 by Deutsche Bank. RBC Capital Markets has "Sector Perform" rating and $15 target.

Investors sentiment decreased to 1 in 2016 Q4. Its down 0.02, from 0.98 in 2016Q3. It worsened, as 44 investors sold AR shares while 82 reduced holdings. 99 funds opened positions while 175 raised stakes. 263.24 million shares or 4.56% more from 251.75 million shares in 2016Q3 were reported. Blb&B Advisors Limited Com invested 0.16% of its portfolio in Freeport-McMoRan Inc (NYSE:FCX). Share performance for the month is now at -0.79%. Freestone Ltd Liability Co stated it has 0% in Antero Resources Corp (NYSE:AR). Moreover, Kennedy Incorporated has 0.07% invested in Tupperware Brands Corporation (NYSE:TUP). Hamilton Lane Advsr Limited Liability Corporation owns 136,080 shares. Nikko Asset Americas accumulated 1.87% or 1.76M shares.

Investors sentiment increased to 1.01 in Q4 2016. Fuller & Thaler Asset Management reported 0.58% stake. Bluecrest Management Limited has invested 0.13% of its portfolio in Freeport-McMoRan Inc (NYSE:FCX). British Columbia Investment reported 45,177 shares stake. Sigma Invest Counselors Inc has invested 0.03% of its portfolio in Freeport-McMoRan Inc (NYSE:FCX). The natural resource company reported $0.17 EPS for the quarter, missing the Zacks' consensus estimate of $0.21 by ($0.04). FCX's profit will be $332.92 million for 15.11 P/E if the $0.23 EPS becomes a reality.

Analysts expect Freeport-McMoRan Inc (NYSE:FCX) to report $0.23 EPS on October, 24.They anticipate $0.10 EPS change or 76.92 % from last quarter's $0.13 EPS. Therefore 23% are positive. The stock of Freeport-McMoRan Inc (NYSE:FCX) earned "Buy" rating by Jefferies on Monday, August 28. The company was maintained on Wednesday, April 12 by Cowen & Co. The company has a consensus rating of "Hold" and an average target price of $12.96.

Freeport-McMoran (NYSE:FCX) last released its quarterly earnings data on Tuesday, July 25th. "(FCX) Research Coverage Started at Macquarie" was first reported by Week Herald and is the sole property of of Week Herald. Barclays Capital upgraded the stock to "Equal Weight" rating in Monday, January 9 report. The firm has "Hold" rating by Stifel Nicolaus given on Tuesday, August 29. Finally, Zacks Investment Research raised shares of Freeport-McMoran from a "hold" rating to a "buy" rating and set a $17.00 price target for the company in a research report on Tuesday, January 17th.

Duquesne Family Office Llc, which manages about $1.03B US Long portfolio, upped its stake in Bank Amer Corp (NYSE:BAC) by 982,700 shares to 2.56 million shares, valued at $56.63 million in 2016Q4, according to the filing. Finally, Fisher Asset Management LLC bought a new stake in shares of Freeport-McMoran in the 2nd quarter valued at about $122,000.



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