Freeport-McMoRan Inc. (NYSE:FCX) Receives $44.95 Consensus Price Target from Brokerages

Shares of Freeport-McMoRan Inc. (NYSE:FCXGet Free Report) have earned a consensus rating of “Hold” from the eleven research firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $44.95.

A number of equities research analysts have recently weighed in on the stock. Eight Capital set a $55.00 target price on shares of Freeport-McMoRan and gave the company a “buy” rating in a research note on Wednesday, December 6th. Royal Bank of Canada restated a “sector perform” rating and issued a $55.00 target price on shares of Freeport-McMoRan in a research note on Thursday, January 25th. UBS Group decreased their price objective on Freeport-McMoRan from $42.00 to $41.00 and set a “neutral” rating for the company in a report on Wednesday, December 13th. Morgan Stanley dropped their target price on shares of Freeport-McMoRan from $41.00 to $40.00 and set an “equal weight” rating on the stock in a report on Thursday, December 7th. Finally, Sanford C. Bernstein upgraded shares of Freeport-McMoRan from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $41.00 to $48.50 in a report on Monday, January 8th.

Check Out Our Latest Stock Analysis on Freeport-McMoRan

Freeport-McMoRan Stock Performance

NYSE FCX opened at $38.15 on Monday. The stock has a market capitalization of $54.72 billion, a PE ratio of 30.04 and a beta of 2.02. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.42 and a quick ratio of 1.38. The company’s 50 day simple moving average is $39.40 and its two-hundred day simple moving average is $38.21. Freeport-McMoRan has a 1 year low of $32.83 and a 1 year high of $44.70.

Freeport-McMoRan (NYSE:FCXGet Free Report) last released its quarterly earnings data on Wednesday, January 24th. The natural resource company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.23 by $0.04. Freeport-McMoRan had a return on equity of 8.41% and a net margin of 8.09%. The firm had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $5.85 billion. During the same quarter in the previous year, the business earned $0.52 earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis. Analysts predict that Freeport-McMoRan will post 1.52 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Friday, January 12th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend was Thursday, January 11th. Freeport-McMoRan’s payout ratio is 23.62%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fairfield Bush & CO. bought a new stake in shares of Freeport-McMoRan during the 1st quarter valued at about $26,000. Bruce G. Allen Investments LLC bought a new stake in shares of Freeport-McMoRan during the 4th quarter valued at $27,000. KB Financial Partners LLC purchased a new stake in shares of Freeport-McMoRan in the 1st quarter worth $26,000. Jones Financial Companies Lllp lifted its position in Freeport-McMoRan by 422.2% during the fourth quarter. Jones Financial Companies Lllp now owns 658 shares of the natural resource company’s stock valued at $28,000 after purchasing an additional 532 shares in the last quarter. Finally, Retirement Group LLC grew its holdings in Freeport-McMoRan by 97.1% during the second quarter. Retirement Group LLC now owns 670 shares of the natural resource company’s stock valued at $27,000 after purchasing an additional 330 shares during the period. Institutional investors own 77.96% of the company’s stock.

Freeport-McMoRan Company Profile

(Get Free Report

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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Analyst Recommendations for Freeport-McMoRan (NYSE:FCX)

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