Freeport-McMoRan (NYSE:FCX) Rating Maintained
In a research note shared with investors and clients on Tuesday morning, Freeport-McMoRan (NYSE:FCX) Stock had its “Hold” Rating reaffirmed by stock research analysts at Stifel. They currently have a $18.0 price target on company. Stifel’s target would suggest a potential downside of -3.95 % from the company’s previous close.
NYSE:FCX is at the moment trading 0.49% higher at $14.50 as of 12:06 PM New York time. Freeport-McMoRan’s stock is 0% over the past 200 days. It has underperformed the Standard & Poor’s 500 index, which has risen 6.00% over the same time.
Out of 14 analysts covering Freeport-McMoRan, 4 rate it a Buy, 16 indicate a Hold while 0 suggest a Sell. The highest target is $15 and the lowest is $8 according to Thomson/First Call. The 12-month mean target is $10.91, which means downside potential of 24.76% over the current price.
Stuyvesant Capital Management had the largest stake with ownership of 321,815 shares as of Q2 2015 for 8.12% of the US long stock exposure. Icahn Carl C is another quite bullish investment professional who is having 104.00M shares of Freeport-McMoRan or 5.7% of their US long stock exposure. In addition, Duquesne Family Office Llc have 4.68% of their US long stock exposure invested in the company for 4.88M shares. The Massachusetts-based fund Northern Cross Llc revealed it had bought a stake worth about 4.38% of the investment professional’s stock portfolio in Freeport-McMoRan. The California-based fund Pacific Heights Asset Management Llc is also positive about the stock, possessing 23.80M shares or 3.88% of their US long stock exposure.
Freeport-McMoRan (NYSE:FCX) Profile
Freeport-McMoRan Inc. (FCX) is a mining company. The Company operates through geographical assets with proven and probable reserves of copper, gold and molybdenum, and traded copper producer. The Company’s segments include refined copper products, copper in concentrate, gold, molybdenum, oil and other.
Freeport-McMoRan (NYSE:FCX) traded up 0.49% on 6 February, hitting $14.5. A total of 14.39 million shares of the company’s stock traded hands. This is down from average of 17.89 million shares. Freeport-McMoRan has a 52 week low of $9.24 and a 52 week high of $17.06. The company has a market cap of $20.88 billion and a P/E ratio of 20.16.
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