Published: Fri, April 14, 2017
Money | By Oscar Reynolds

Freeport-McMoRan Inc (FCX) Stock Rating Upgraded by Berenberg Bank

Freeport-McMoRan Inc (FCX) Stock Rating Upgraded by Berenberg Bank

If you look at the company's income statement over the past years, you will see that the company is constantly posting gross profit: In 2014, FCX earned gross profit of 5.24 Billion, in 2015 321 Million gross profit, while in 2016 Freeport-McMoRan Inc. During the trading on 04/07/2017, Company's stock ranged from $13.57 to $13.28.

FCX has been the topic of several other reports. Freeport-McMoRan Inc. P/E (price to earnings) ratio is 0 and Forward P/E ratio of 9.42. This company shares are 15.61% off its target price of $14.89 and the current market capitalization stands at $18.88B. Zacks Investment Research lowered Freeport-McMoRan from a buy rating to a hold rating in a research report on Monday, January 30th. "Ultimately, through all this investigation into the company's performance the analyst decides whether their stock is a "buy", sell" or hold". The company has an average rating of Hold and a consensus target price of $13.85.

Freeport-McMoRan Inc (NYSE:FCX) was upgraded by equities researchers at Berenberg Bank from a "sell" rating to a "hold" rating in a research report issued on Wednesday. Freeport-McMoRan Inc (NYSE:FCX) distance from 20 day simple moving average is -1.20% whereas its distance from 50 day simple moving average is -6.90% along with 0.24% distance from 200 day simple moving average. According to their predictions High & Low revenue estimates are 13.38 Billion and 12.86 Billion respectively.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Wednesday, January 25th. Looking ahead to earnings forecasts, for the running fiscal period, Wall Street analysts have anticipated that the company will report 0.19 earnings per share. The Return on Investment (ROI) is at -14.2% while it's Return on Equity (ROE) value stands at -89.9%. National Pension Service boosted its position in Freeport-McMoRan by 9.6% in the first quarter. During the same quarter in the previous year, the business earned ($0.02) earnings per share. The analysts offering Earnings Estimates for the company were believing that Freeport-McMoRan Inc.

COPYRIGHT VIOLATION WARNING: This article was posted by Community Financial News and is the property of of Community Financial News. If you are accessing this article on another domain, it was illegally stolen and reposted in violation of worldwide copyright law. Cowen and Company reiterated a "buy" rating on shares of Freeport-McMoRan in a report on Tuesday. There may be various price targets for a stock.

A stock rating usually tells investors how well a stock's market value relates to what analysts think is a fair value for the stock, based on an independent evaluation of the company. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Currently, Micron Technology, Inc.net profit margin for the 12 months is at 4.91%. The shares were sold at an average price of $15.24, for a total transaction of $1,181,100.00. Following the completion of the transaction, the chief operating officer now owns 37,763 shares of the company's stock, valued at approximately $575,508.12. The disclosure for this sale can be found here. During the same quarter in the prior year, the company posted ($0.02) earnings per share.

Several institutional investors have recently modified their holdings of the company. Northern Trust Corp boosted its stake in Freeport-McMoRan by 2.3% in the third quarter. Independent Investors Inc. now owns 14,774 shares of the natural resource company's stock worth $160,000 after buying an additional 74 shares during the last quarter. Regal Investment Advisors LLC boosted its position in Freeport-McMoRan by 1.3% in the third quarter.

The Relative Volume of the company is 0.85 and Average Volume (3 months) is 26.65 million. Kornitzer Capital Management Inc. Total debt to equity ratio of the company for most recent quarter is 2.65 whereas long term debt to equity ratio for most recent quarter is 2.45. (NYSE:FCX) are -4.17%; 4.97% for the month; -18.84% for the last quarter; 30.5% for the past six-months; and 19.04% for the last 12 months. Finally, Bank of The West raised its position in Freeport-McMoRan by 27.4% in the third quarter. BlackRock Fund Advisors now owns 22,820,938 shares of the natural resource company's stock valued at $247,835,000 after buying an additional 1,111,143 shares during the last quarter. Sales growth past 5 years was measured at -6.60%.

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