The Freeport-McMoran, Inc. (FCX) Rating Lowered to Sell at Berenberg Bank

18 Juillet, 2017, 03:34 | Author: Claudine Rigal

The fund owned 283,610 shares of the natural resource company's stock after selling 2,201,352 shares during the period.

Analysts expect Freeport-McMoRan Inc (NYSE:FCX) to report $0.19 EPS on July, 25 before the open.They anticipate $0.21 EPS change or 1,050.00% from last quarter's $-0.02 EPS. Advantage Investment Management LLC boosted its stake in Freeport-McMoran by 5.6% in the first quarter. During the same quarter a year ago, the company earned ($0.16) earnings per share. Ancora Advisors LLC bought a new stake in Freeport-McMoran during the fourth quarter valued at approximately $126,000.

Trust Co increased its stake in shares of Freeport-McMoran, Inc. Mn Services Vermogensbeheer B.V. now owns 223,671 shares of the natural resource company's stock worth $2,686,000 after buying an additional 189,172 shares in the last quarter. Earnest Prns Limited Liability Company holds 0.02% of its portfolio in Freeport-McMoRan Inc (NYSE:FCX) for 146,238 shares. Vanguard Group Inc. now owns 132,991,679 shares of the natural resource company's stock valued at $1,776,769,000 after buying an additional 12,897,514 shares in the last quarter.

Several hedge funds have recently added to or reduced their stakes in the stock. According to these analysts, the Low Revenue Estimate for Freeport-McMoRan 3.36 Billion and the High Revenue Estimate is 4.03 Billion. (NYSE FCX) traded up 3.17% during trading on Monday, hitting $13.00. The last session's volume of 11.89 million shares was lower than its average volume of 17.49 million shares. The share price has moved forward from its 20 days moving average 5.97% and positively from its 50 days moving average 6.68%. The stock has a market capitalization of $18.23 billion, a PE ratio of 67.38 and a beta of 2.55.

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Freeport-McMoran (NYSE:FCX) last released its earnings results on Tuesday, April 25th. The natural resource company reported $0.15 earnings per share for the quarter, missing the Thomson Reuters' consensus estimate of $0.16 by $0.01. The business had revenue of $3.34 billion for the quarter, compared to analysts' expectations of $3.51 billion. Freeport-McMoran had a return on equity of 7.97% and a net margin of 1.11%. Over the trailing year, the stock is underperforming the S&P 500 by 15.67, and it's gotten there by action that has been more volatile on a day-to-day basis than most other stocks on the exchange. "(FCX)" was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this news story on another publication, it was illegally stolen and reposted in violation of United States and worldwide copyright & trademark legislation. Atria Investments LLC bought a new stake in Freeport-McMoran during the first quarter valued at $134,000. Given the stock's recent action, it seemed like a good time to take a closer look at the company's recent data. Finally, Vetr downgraded Freeport-McMoran from a "strong-buy" rating to a "buy" rating and set a $14.50 price target for the a report on Tuesday, April 25th. Zacks Investment Research downgraded Freeport-McMoran from a "hold" rating to a "sell" rating in a report on Wednesday, July 5th.

On Friday, Shares of Freeport-McMoRan Inc (NYSE:FCX) inclined 0.96% to $12.60. Cowen and Company reiterated a "buy" rating on shares of Freeport-McMoran in a research note on Tuesday, April 11th. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Freeport-McMoran now has a consensus rating of "Hold" and an average price target of $13.77.

Turning to Freeport-McMoRan Inc. The Company operates through geographical assets with proven and probable reserves of copper, gold and molybdenum, and traded copper producer. The Company's divisions include refined copper products, copper in concentrate, gold, molybdenum, oil and other.


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