Freeport-McMoRan (NYSE:FCX) Given Hold (C) Rating at Weiss Ratings

Freeport-McMoRan (NYSE:FCX - Get Free Report)'s stock had its "hold (c)" rating reiterated by Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

A number of other equities research analysts also recently commented on FCX. CICC Research cut their target price on shares of Freeport-McMoRan from $51.60 to $42.30 and set an "outperform" rating for the company in a research report on Friday, September 26th. Bank of America raised shares of Freeport-McMoRan from a "neutral" rating to a "buy" rating and set a $42.00 target price for the company in a research report on Tuesday, September 30th. Wall Street Zen downgraded shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Friday, September 26th. JPMorgan Chase & Co. cut their target price on shares of Freeport-McMoRan from $56.00 to $46.00 and set an "overweight" rating for the company in a research report on Thursday, September 25th. Finally, Dbs Bank cut their target price on shares of Freeport-McMoRan from $51.00 to $48.00 in a research report on Thursday, October 2nd. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $46.37.

Freeport-McMoRan Price Performance

Shares of FCX opened at $42.85 on Wednesday. The company has a market capitalization of $61.52 billion, a P/E ratio of 32.46, a price-to-earnings-growth ratio of 0.90 and a beta of 1.58. The company has a quick ratio of 1.21, a current ratio of 2.47 and a debt-to-equity ratio of 0.30. The firm has a 50 day moving average of $42.43 and a 200 day moving average of $40.56. Freeport-McMoRan has a twelve month low of $27.66 and a twelve month high of $50.28.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The natural resource company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.09. The company had revenue of $7.58 billion during the quarter, compared to the consensus estimate of $6.85 billion. Freeport-McMoRan had a net margin of 7.45% and a return on equity of 7.37%. The firm's quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.46 earnings per share. As a group, equities research analysts anticipate that Freeport-McMoRan will post 1.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Freeport-McMoRan by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 126,983,947 shares of the natural resource company's stock worth $5,504,754,000 after purchasing an additional 1,941,662 shares in the last quarter. Fisher Asset Management LLC lifted its stake in Freeport-McMoRan by 3.2% in the 2nd quarter. Fisher Asset Management LLC now owns 62,358,715 shares of the natural resource company's stock worth $2,703,250,000 after purchasing an additional 1,926,493 shares in the last quarter. State Street Corp lifted its stake in Freeport-McMoRan by 0.5% in the 2nd quarter. State Street Corp now owns 61,787,174 shares of the natural resource company's stock worth $2,678,474,000 after purchasing an additional 320,514 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Freeport-McMoRan by 17.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 37,547,489 shares of the natural resource company's stock worth $1,421,549,000 after purchasing an additional 5,661,958 shares in the last quarter. Finally, Amundi lifted its stake in Freeport-McMoRan by 28.1% in the 1st quarter. Amundi now owns 27,635,497 shares of the natural resource company's stock worth $1,046,280,000 after purchasing an additional 6,054,537 shares in the last quarter. Hedge funds and other institutional investors own 80.77% of the company's stock.

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.

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