Freeport-McMoRan (NYSE:FCX) PT Lowered to $42.00

Freeport-McMoRan (NYSE:FCX – Get Free Report) had its target price lowered by equities research analysts at Raymond James from $44.00 to $42.00 in a research report issued to clients and investors on Friday, BayStreet.CA reports. The firm currently has an “outperform” rating on the natural resource company’s stock. Raymond James’ price target would indicate a […] Freeport-McMoRan (NYSE:FCX) had its target price lowered by equities research analysts at Raymond James from $44.00 to $42.00 in a report issued to clients and investors. The firm currently has an “outperform” rating on the natural resource company’s stock. Raymond James’ price target would indicate a potential upside of 23.97% from the current price. The company also issued estimates for Freeport- McMoRans’ Q4 2023 earnings at $0.56 EPS, Q1 2024 earnings at €0.47 EPS, and Q3 2024 earnings respectively. Several other research analysts have also commented on the company. Freeport McRan had revenue of $5.82 billion for the quarter compared to analyst estimates of $ 5.43 billion.

公開済み : 2年前 沿って Defense World Staff の Finance

Several other research analysts have also commented on the company. BMO Capital Markets reduced their price target on Freeport-McMoRan from $47.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday. Stifel Nicolaus decreased their price objective on Freeport-McMoRan from $49.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, August 22nd. 1-800-FLOWERS.COM reiterated an “initiates” rating on shares of Freeport-McMoRan in a report on Thursday, June 29th. Scotiabank decreased their price objective on Freeport-McMoRan from $49.00 to $48.00 in a report on Tuesday, July 25th. Finally, StockNews.com raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Monday, October 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Freeport-McMoRan currently has a consensus rating of “Hold” and a consensus target price of $42.50.

Freeport-McMoRan (NYSE:FCX – Get Free Report) last announced its earnings results on Thursday, October 19th. The natural resource company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.05. Freeport-McMoRan had a net margin of 9.50% and a return on equity of 9.98%. The business had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same quarter last year, the business earned $0.26 earnings per share. The company’s revenue for the quarter was up 16.4% compared to the same quarter last year. Sell-side analysts anticipate that Freeport-McMoRan will post 1.58 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the business. America First Investment Advisors LLC purchased a new stake in shares of Freeport-McMoRan during the first quarter worth about $25,000. Fairfield Bush & CO. purchased a new position in Freeport-McMoRan during the first quarter worth about $26,000. KB Financial Partners LLC acquired a new stake in Freeport-McMoRan in the 1st quarter worth about $26,000. Retirement Group LLC grew its holdings in Freeport-McMoRan by 97.1% in the 2nd quarter. Retirement Group LLC now owns 670 shares of the natural resource company’s stock valued at $27,000 after buying an additional 330 shares during the period. Finally, ICA Group Wealth Management LLC acquired a new position in shares of Freeport-McMoRan during the 4th quarter valued at about $28,000. 77.96% of the stock is currently owned by hedge funds and other institutional investors.

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, as well as oil and gas. The company's assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.

• Five stocks we like better than Freeport-McMoRan

• The Top 3 Healthcare Dividend Stocks to Buy and Hold

• Want to Profit on the Downtrend? Downtrends, Explained.

• How to Invest in Toy Stocks

• Institutions Buy Consumer Staples, is the Bottom in?

Receive News & Ratings for Freeport-McMoRan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Freeport-McMoRan and related companies with MarketBeat.com's FREE daily email newsletter.

トピック: Markets, NYSE

Read at original source