Analysts Set Freeport-McMoRan Inc. (NYSE:FCX) Price Target at $51.75

Shares of Freeport-McMoRan Inc. (NYSE:FCX) have been given an average rating of “Moderate Buy” by the sixteen analysts that are presently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $52.04.

Several equities research analysts recently weighed in on FCX shares. Dbs Bank upgraded Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. BMO Capital Markets dropped their target price on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, January 24th. JPMorgan Chase & Co. upgraded Freeport-McMoRan from a “neutral” rating to an “overweight” rating and increased their target price for the company from $48.00 to $52.00 in a report on Thursday. Deutsche Bank Aktiengesellschaft upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Thursday, March 6th. Finally, Jefferies Financial Group upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and increased their price objective for the stock from $40.00 to $48.00 in a report on Thursday, February 27th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Prospera Private Wealth LLC raised its position in shares of Freeport-McMoRan by 4.4% in the 3rd quarter. Prospera Private Wealth LLC now owns 5,548 shares of the natural resource company’s stock worth $277,000 after acquiring an additional 234 shares in the last quarter. Continuum Advisory LLC increased its position in Freeport-McMoRan by 46.8% during the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock valued at $37,000 after buying an additional 236 shares in the last quarter. Intellectus Partners LLC increased its position in Freeport-McMoRan by 0.4% during the 3rd quarter. Intellectus Partners LLC now owns 71,758 shares of the natural resource company’s stock valued at $3,582,000 after buying an additional 256 shares in the last quarter. Coppell Advisory Solutions LLC increased its position in Freeport-McMoRan by 47.4% during the 4th quarter. Coppell Advisory Solutions LLC now owns 833 shares of the natural resource company’s stock valued at $32,000 after buying an additional 268 shares in the last quarter. Finally, PFG Investments LLC increased its position in Freeport-McMoRan by 1.3% during the 4th quarter. PFG Investments LLC now owns 22,910 shares of the natural resource company’s stock valued at $872,000 after buying an additional 283 shares in the last quarter. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Price Performance

Shares of Freeport-McMoRan stock opened at $40.72 on Friday. The firm has a market capitalization of $58.51 billion, a PE ratio of 31.56, a price-to-earnings-growth ratio of 0.87 and a beta of 1.87. Freeport-McMoRan has a 12 month low of $33.98 and a 12 month high of $55.24. The business’s 50-day moving average price is $38.00 and its 200-day moving average price is $41.99. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. Sell-side analysts forecast that Freeport-McMoRan will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Company Profile

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.