The analysts working for the research division of StockNews.com announced that they would be covering Freeport-McMoRan in a research report distributed to clients and investors on Thursday.
The report was sent out through StockNews.com.
After analyzing the natural resource provider’s business, the brokerage firm has placed a “hold” rating on the company’s stock.
Freeport-McMoRan (NYSE: FCX) disclosed the outcomes of its most recent quarterly earnings report on Wednesday, January 25.
The announcement was made.
The natural resources company reported quarterly earnings of $0.52 per quarter, which is $0.12 higher than the consensus projection of $0.40 per quarter.
The natural resources company’s earnings were reported in U.S.
Dollars. Freeport-McMoRan succeeded, as evidenced by its net margin of 15.22% and its return on equity of 14.59%.
The revenue for the quarter came in at $5.75 billion, which is higher than the consensus estimate of $5.42 billion for the revenue that should be generated during the quarter.
In the same period as the previous year, the company made a profit of $0.96 per share of common stock.
The company’s quarterly revenue decline was 6.7% when measured against the prior year’s results for the same period.
This year, earnings per share for Freeport-McMoRan are expected to come in at $1.98, according to projections made by analysts who follow the mining industry.
When trading started on Thursday, the price of a share of Freeport-McMoRan was $35.51 per share. Freeport-McMoRan reached its all-time high of $51.99 in the past year, while the company hit its all-time low of $24.80 in the same period.
The company has a market value of $50.80 billion, and its stock has a price-to-earnings ratio of 14.98.
The stock also has a beta value of 2.02, and its value is The company’s moving average over the past 50 days is $42.68, and its moving average over the past 200 days is, respectively, $36.73.
The ratio of the current ratio to the quick ratio is 1.64, while the ratio of the current ratio to the quick ratio is 2.46.
The ratio of debt to equity is 0.39.
UBS Group upgraded Freeport-McMoRan from a “neutral” rating to an “outperform” rating.
It increased its price objective for the company’s stock from $32.00 to $41.00 in a report published on February 27. Other equity research analysts have also released their findings regarding the stock.
In a research note released on Tuesday, Scotiabank increased their price target for Freeport-McMoRan from $41.00 to $50.00 and upgraded the company from a “sector perform” rating to a “sector outperform” rating.
In a research note published on January 31, Raymond James increased their price target on Freeport-McMoRan shares from $40.00 to $48:00, giving it an “outperform” rating.
Previously, their price target had been $40.00.
The Street raised its previous evaluation of Freeport-McMoRan from a grade of “c” to a grade of “b” after the company participated in a research study published on January 25 and made available to the general public.
In a research note released on Tuesday, January 10, Deutsche Bank Aktiengesellschaft announced that they were increasing their price objective on Freeport-McMoRan from $35.00 to $40.00.
This was the last but not the least of the company’s announcements. Five research analysts have recommended that investors buy the company’s stock, eleven have suggested that investors maintain their current holdings, and one has suggested that investors sell the stock.
According to the data that can be found on Bloomberg.com, the most common recommendation for Freeport-McMoRan is “Hold,” and the consensus price objective for the company is $42.07.
Mikes, who serves as the chief operating officer of the company, sold 11,678 shares of company stock on March 1.
Mike is the person responsible for the sale.
A transaction with a total value of $504,139.26 was completed due to the sale of the shares, using the weighted average price of $43.17 per share as the basis for the calculation. Following the completion of the sale, the chief accounting officer gained direct ownership of 32,333 company shares, which currently have a value of approximately USD 1,395,815.61.
This page contains the filing containing information about the transaction provided to the Securities and Exchange Commission (SEC). You can access the filing by clicking here.
A total of 0.72% of the outstanding shares of stock in the company are owned by company insiders.
Several different hedge funds have recently been observed buying and selling FCX shares.
These transactions have taken place in rapid succession.
During the first quarter, Fairfield Bush & Co established a new position in Freeport-McMoRan stock, estimated to be worth approximately $26,000.
During the third quarter of the fiscal year, Founders Capital Management invested an additional $27,000 in Freeport-McMoRan to acquire a new investment. WFA of San Diego LLC invested in Freeport-McMoRan with a total value of $27,000 over the final three months of 2018.
During the last three months of 2018, ICA Group Wealth Management LLC invested approximately $28,000 in Freeport-McMoRan.
This was a fresh investment in the company that had just been made.
And finally, during the third quarter, Assetmark INC increased its stake in Freeport-McMoRan by purchasing 54.1 percent of its shares.
Assetmark INC now has 1,051 shares of the natural resource company after purchasing an additional 369 shares during the most recent quarter.
The combined value of all of Assetmark INC’s shares of the natural resource company is $29,000.
Institutional investors and hedge funds hold 77.12% of the total number of shares in the company, making up the majority of the shareholders.