Freeport-McMoran (FCX) : The most positive equity analysts on Freeport-McMoran (FCX) expects the shares to touch $15, whereas, the least positive believes that the stock will trade at $8 in the short term. The company is covered by 11 Wall Street Brokerage Firms. The average price target for shares are $11.5 with an expected fluctuation of $2.28 from the mean.
Freeport-McMoran (FCX) : 3 brokerage houses believe that Freeport-McMoran (FCX) is a Strong Buy at current levels. 9 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 13 Wall Street Analysts endorse the stock as a Hold with a rating of 2.69.
Also, In a research note released to the investors, Barclays maintains its rating on Freeport-McMoran (NYSE:FCX).The analysts at the brokerage house have a current rating of Equal-weight on the shares. In a recent information released to the investors, Barclays raises the new price target from $10 per share to $11 per share. The rating by the firm was issued on August 8, 2016.
Freeport-McMoran (NYSE:FCX): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $10.32 and $10.18 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $10.47. The buying momentum continued till the end and the stock did not give up its gains. It closed at $10.35, notching a gain of 0.58% for the day. The total traded volume was 20,780,182 . The stock had closed at $10.29 on the previous day.
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.