BNP Paribas Exane Issues Pessimistic Forecast for Freeport-McMoRan (NYSE:FCX) Stock Price

Freeport-McMoRan (NYSE:FCX - Get Free Report) had its target price lowered by stock analysts at BNP Paribas Exane from $58.00 to $56.00 in a report issued on Friday,MarketScreener reports. The brokerage currently has an "outperform" rating on the natural resource company's stock. BNP Paribas Exane's target price indicates a potential upside of 22.70% from the stock's current price.

• Freeport-McMoRan Posts Strong Earnings Despite Indonesia Shutdown

Other equities analysts have also recently issued reports about the company. Wells Fargo & Company raised Freeport-McMoRan to a "strong-buy" rating in a report on Wednesday, October 8th. UBS Group set a $48.00 price objective on Freeport-McMoRan and gave the stock a "buy" rating in a research note on Friday, October 3rd. BMO Capital Markets lowered their price objective on Freeport-McMoRan from $48.00 to $47.00 and set an "outperform" rating on the stock in a research report on Wednesday, November 19th. HSBC reduced their target price on shares of Freeport-McMoRan from $50.00 to $48.00 and set a "buy" rating for the company in a report on Wednesday, November 19th. Finally, Morgan Stanley dropped their price target on shares of Freeport-McMoRan from $46.00 to $44.00 and set an "overweight" rating for the company in a research report on Wednesday, November 19th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $47.30.

Get Our Latest Report on Freeport-McMoRan

Freeport-McMoRan Stock Up 2.3%

• 3 Copper Stocks Ready to Shine in the Next Metal Supercycle

Freeport-McMoRan stock opened at $45.64 on Friday. The stock has a market cap of $65.54 billion, a PE ratio of 32.12, a price-to-earnings-growth ratio of 1.00 and a beta of 1.49. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.19 and a current ratio of 2.45. The stock has a fifty day moving average of $40.98 and a 200 day moving average of $42.12. Freeport-McMoRan has a one year low of $27.66 and a one year high of $49.12.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its quarterly earnings data on Thursday, October 23rd. The natural resource company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.09. The firm had revenue of $6.97 billion for the quarter, compared to analysts' expectations of $6.74 billion. Freeport-McMoRan had a net margin of 7.97% and a return on equity of 7.84%. The business's quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.38 EPS. As a group, sell-side analysts predict that Freeport-McMoRan will post 1.68 EPS for the current year.

Institutional Inflows and Outflows

• A Copper Catalyst: Why Freeport-McMoRan Is Positioned to Rebound

Several institutional investors have recently modified their holdings of FCX. Steigerwald Gordon & Koch Inc. purchased a new stake in shares of Freeport-McMoRan during the 3rd quarter valued at $25,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Freeport-McMoRan in the 2nd quarter worth about $28,000. Salomon & Ludwin LLC increased its position in shares of Freeport-McMoRan by 1,962.9% during the 3rd quarter. Salomon & Ludwin LLC now owns 722 shares of the natural resource company's stock valued at $29,000 after purchasing an additional 687 shares during the last quarter. JPL Wealth Management LLC purchased a new position in shares of Freeport-McMoRan during the 3rd quarter valued at about $33,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in Freeport-McMoRan in the 3rd quarter worth approximately $36,000. 80.77% of the stock is currently owned by institutional investors.

About Freeport-McMoRan

Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. It primarily explores for copper, gold, molybdenum, silver, and other metals. The company's assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Chino and Tyrone in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.

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