Freeport-McMoRan Inc (FCX) was Reiterated by Cowen to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 15 from a previous price target of $10 . Cowen advised their investors in a research report released on May 16, 2016.
Many Wall Street Analysts have commented on Freeport-McMoRan Inc. Company shares were Reiterated by Deutsche Bank on May 2, 2016 to “Hold”, Firm has raised the Price Target to $ 11 from a previous price target of $10 .Company shares were Reiterated by Barclays on May 2, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 10 from a previous price target of $9 .Company shares were Reiterated by RBC Capital Mkts on Apr 25, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 12 from a previous price target of $6.50 .
On the company’s financial health, Freeport-McMoRan Inc reported $-0.16 EPS for the quarter, based on the information available during the earnings call on Apr 26, 2016. Analyst had a consensus estimate of $-0.16. The company had revenue of $3527.00 million for the quarter, compared to analysts expectations of $3516.19 million. The company’s revenue was down -15.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.06 EPS.
Freeport-McMoRan Inc closed down -0.62 points or -5.62% at $10.41 with 4,37,93,125 shares getting traded on Friday. Post opening the session at $10.96, the shares hit an intraday low of $10.29 and an intraday high of $11.37 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Sep 8, 2015, James C Flores (Vice Chairman of the Board) purchased 2,200,000 shares at $9.70 per share price. According to the SEC, on Aug 31, 2015, James R Moffett (Chairman of the Board) purchased 100,000 shares at $10.57 per share price.
Freeport-McMoRan Inc. (FCX) is a natural resource company with an industry portfolio of mineral assets oil and natural gas resources and a production profile. FCX has organized its operations into six primary divisions: North America copper mines South America mining Indonesia mining Africa mining Molybdenum mines and United States oil and gas operations. The Companys portfolio of assets includes the Grasberg minerals district in Indonesia mining operations in North and South America the Tenke Fungurume (Tenke) minerals district in the Democratic Republic of Congo (DRC) in Africa and oil and natural gas assets in North America. The Company is also engaged in operating copper conversion facilities located in North America and a refinery three rod mills and a specialty copper products facility. The Companys Atlantic Copper smelts and refines copper concentrates and markets refined copper and precious metals in slimes.