Analyst Rating Update on Freeport-McMoran (FCX)

Freeport-McMoran (FCX) : 3 brokerage houses believe that Freeport-McMoran (FCX) is a Strong Buy at current levels. 10 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Freeport-McMoran (FCX). Zacks Investment Research suggests a Hold with a rank of 3. 1 others believe that the stock has run up ahead of its fundamentals and advise a Strong Sell on the stock.The median of all the 14 Wall Street Analysts endorse the stock as a Hold with a rating of 2.71.

Freeport-McMoran (FCX) : Currently there are 11 street experts covering Freeport-McMoran (FCX) stock. The most bullish and bearish price target for the stock is $15 and $8 respectively for the short term. The average price target of all the analysts comes to $11.41. The estimated standard deviation from the target is $2.32.

Company shares have received an average consensus rating of Hold for the current week Also, Goldman Sachs initiates coverage on Freeport-McMoran (NYSE:FCX). Goldman Sachs has a Neutral rating on the shares. As per the latest report, the brokerage house announces the price target to $12 per share. The rating by the firm was issued on May 19, 2016.


Freeport-McMoran (NYSE:FCX): The stock opened at $12.20 on Wednesday but the bulls could not build on the opening and the stock topped out at $12.58 for the day. The stock traded down to $12.03 during the day, due to lack of any buying support eventually closed down at $12.39 with a loss of -0.08% for the day. The stock had closed at $12.40 on the previous day. The total traded volume was 24,938,569 shares.

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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