Freeport-McMoran (FCX) Receives ‘Analyst’ Rating

Freeport-McMoran (FCX) : 13 analysts are covering Freeport-McMoran (FCX) and their average rating on the stock is 2.79, which is read as a Hold. 3 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. However, 2 analysts consider that the stock has more downward risks ahead, hence, they suggest a Strong Sell on the stock. A total of 8 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

Freeport-McMoran (FCX) : The highest level Freeport-McMoran (FCX) is projected to reach is $15 for the short term and the lowest estimate is at $7. The consolidated price target from 11 rating analysts who initiate coverage on the stock is $11.32 and the possibility the share price can swing is $2.4.


Also, Brokerage firm Barclays maintains its rating on Freeport-McMoran (NYSE:FCX). As per the latest information, the brokerage house raises the price target to $11 per share from a prior target of $10. The shares have been rated Equal-weight. The rating by the firm was issued on August 8, 2016.

Freeport-McMoran (NYSE:FCX): The stock opened in the green at $9.81 on Thursday, but the bulls found it difficult to push the prices higher. The stock reached a high of $9.9452 and a low of $9.43 for the day. The stock did not find buyers even at the lows and closed at $9.78 recording a loss of -0.20%. 40,676,682 shares exchanged hands during the trading day. The stock had closed at $9.8 in the previous days trading.

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.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.