Price Target Update on Freeport-McMoran (NYSE:FCX)

Freeport-McMoran (NYSE:FCX) : The highest short term price target forecast on Freeport-McMoran (NYSE:FCX) is $15 and the lowest target price is $6. A total of 12 equity analysts are currently covering the company. The average price of all the analysts is $10.63 with a standard deviation of $2.59.

Other Equity analysts have also commented on the company shares. Goldman Sachs initiates coverage on Freeport-McMoran (NYSE:FCX). The shares have now been rated Neutral by the stock experts at the ratings house. Goldman Sachs announces the current price target of $12 per share on Freeport-McMoran . The rating by the firm was issued on May 19, 2016.

Freeport-McMoran (NYSE:FCX): stock turned positive on Thursday. Though the stock opened at $11.72, the bulls momentum made the stock top out at $11.93 level for the day. The stock recorded a low of $11.615 and closed the trading day at $11.77, in the green by 2.35%. The total traded volume for the day was 33,441,226. The stock had closed at $11.5 in the previous days trading.

The company shares have dropped -41.74% from its 1 Year high price. On Jun 25, 2015, the shares registered one year high at $20.66 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $11.10 and the 200 Day Moving Average price is recorded at $8.72. On the companys insider trading activities, Flores James C, (Vice Chairman of the Board) of Freeport-Mcmoran Inc, executed a transaction worth $21,340,000 on September 4, 2015. A total of 2,200,000 shares were purchased at an average price of $9.7. The Insider information was divulged by the Securities and Exchange Commission in a Form 4 filing. The information is based on open market trades at the market prices.Option exercises are not covered.

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.

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