Economy

Freeport-McMoran, Inc. (FCX) Lifted to "Buy" at ValuEngine

Freeport-McMoRan Inc. (NYSE:FCX) has seen its SMA20 which is now -3.60%. The company has a 50-day moving average of $10.48 and a 200 day moving average of $11.22. The Weekly and Monthly Volatility stands at 3.24% and 2.76%. Zacks Investment Research downgraded Freeport-McMoRan from a "hold" rating to a "sell" rating in a research report on Tuesday, October 18th. The company has a market capitalization of $20.39 billion, a PE ratio of 19.87 and a beta of 2.54. The correct version of this piece of content can be viewed at https://www.truebluetribune.com/2017/10/30/freeport-mcmoran-inc-fcx-given-a-12-00-price-target-at-fbr-co.html.

For the ongoing Fiscal Quarter, 17 analysts have an average earnings forecast of $0.42 per share. Berenberg Bank reaffirmed a sell rating and set a $10.40 price target on shares of Freeport-McMoran in a research report on Tuesday, September 5th. Institutional investors own 67.95% of the company's stock.

The price target set for the stock is $15.92 and this sets up an interesting set of potential movement for the stock, according to data from Finviz's Research.

The company's stock is now moving with a +ve distance from the 200 day SMA of approximately 4.08%, and has a solid year to date (YTD) performance of 7.13% which means that the stock is constantly adding to its value from the previous fiscal year end price. The low EPS estimate is $0.45, while the high EPS estimate is $0.57. The company had revenue of $4.31 billion during the quarter, compared to analysts' expectations of $4.06 billion.

The Company has 1.50B shares outstanding while EPS in next five years is expected to reach 73.72% while EPS growth in past 5 year was -21.20%.

Analysts have given a mean recommendation of 2.90 on this stock (A rating of less than 2 means buy, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range). Freeport-McMoRan Inc. has a 12 month low of $3.52 and a 12 month high of $14.06. The stock has an average rating of "Hold" and a consensus price target of $15.54. According to the Analysts, the Low Earnings estimate for the current quarter is $0.31, while the High earnings estimate is $0.53.Comparatively, EPS for the same quarter previous year was $0.28.

While looking at the Stock's Performance, Freeport-McMoRan Inc. now shows a Weekly Performance of -4.72%, where Monthly Performance is -2.01%, Quarterly performance is -3.35%, 6 Months performance is 12.68% and yearly performance percentage is 32.18%.

Freeport-McMoRan Inc.'s insider ownership stands at 0.2 percent, while its insider transaction is 1.23 percent. Commerce Bank now owns 14,394 shares of the natural resource company's stock worth $161,000 after buying an additional 579 shares during the last quarter. BlueMountain Capital Management LLC increased its position in Freeport-McMoran by 100.4% during the 2nd quarter. Investment Centers of America Inc. now owns 69,525 shares of the natural resource company's stock worth $929,000 after acquiring an additional 58,740 shares during the last quarter. (FCX) declined -3.81% and closed its last trading session at $14.13.

In related news, Director Courtney Mather acquired 150,000 shares of Freeport-McMoRan stock in a transaction that occurred on Thursday, October 27th. The shares were bought at an average price of $15.23 per share, for a total transaction of $551,021.40. Thrivent Financial For Lutherans now owns 48,672 shares of the natural resource company's stock worth $650,000 after acquiring an additional 4,380 shares during the last quarter. Finally, Contrarius Investment Management Ltd increased its position in Freeport-McMoran by 700.5% during the 2nd quarter. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. A P/B ratio of less than 1.0 can indicate that a stock is undervalued, while a ratio of greater than 1.0 may indicate that a stock is overvalued.



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