Notable Runner: Today Freeport-McMoRan Inc Stock Rises

Notable Runner: Today Freeport McMoRan Inc Stock Rises

The stock of Freeport-McMoRan Inc (NYSE:FCX) is a huge mover today! About 4.90M shares traded hands. Freeport-McMoRan Inc (NYSE:FCX) has risen 5.75% since March 4, 2016 and is uptrending. It has underperformed by 2.29% the S&P500.
The move comes after 7 months positive chart setup for the $13.10B company. It was reported on Oct, 7 by Barchart.com. We have $14.51 PT which if reached, will make NYSE:FCX worth $5.50B more.

Analysts await Freeport-McMoRan Inc (NYSE:FCX) to report earnings on October, 27. They expect $0.18 earnings per share, up 220.00% or $0.33 from last year’s $-0.15 per share. FCX’s profit will be $230.72 million for 14.19 P/E if the $0.18 EPS becomes a reality. After $-0.02 actual earnings per share reported by Freeport-McMoRan Inc for the previous quarter, Wall Street now forecasts -1,000.00% EPS growth.

Freeport-McMoRan Inc (NYSE:FCX) Ratings Coverage

Out of 17 analysts covering Freeport-McMoran Copper & Gold (NYSE:FCX), 6 rate it a “Buy”, 4 “Sell”, while 7 “Hold”. This means 35% are positive. Freeport-McMoran Copper & Gold has been the topic of 47 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The firm earned “Overweight” rating on Tuesday, August 18 by Morgan Stanley. FBR Capital initiated Freeport-McMoRan Inc (NYSE:FCX) rating on Friday, September 18. FBR Capital has “Mkt Perform” rating and $18 price target. The stock has “Equal-Weight” rating given by Barclays Capital on Wednesday, March 30. On Monday, May 2 the stock rating was maintained by Deutsche Bank with “Hold”. The rating was downgraded by Macquarie Research to “Neutral” on Friday, January 8. Barclays Capital maintained the shares of FCX in a report on Monday, May 2 with “Equal Weight” rating. The firm has “Neutral” rating by Citigroup given on Tuesday, September 1. The stock of Freeport-McMoRan Inc (NYSE:FCX) earned “Neutral” rating by Macquarie Research on Wednesday, September 14. As per Wednesday, July 20, the company rating was maintained by FBR Capital. RBC Capital Markets maintained Freeport-McMoRan Inc (NYSE:FCX) on Tuesday, August 11 with “Sector Perform” rating.

According to Zacks Investment Research, “Freeport-McMoRan is engaged in mineral exploration and development, mining and milling of copper, gold, and silver in Indonesia, and the smelting and refining of copper concentrates in Spain and Indonesia. They are the world’s lowest-cost copper producer and one of the world’s largest producers of copper and gold. FCX’s operations are conducted through its subsidiaries, P.T. Freeport Indonesia (PT-FI), P.T. IRJA Eastern Minerals Corporation (Eastern Mining) and through Atlantic Copper, S.A. (Atlantic).”

Insitutional Activity: The institutional sentiment decreased to 0.79 in Q2 2016. Its down 0.08, from 0.87 in 2016Q1. The ratio fall, as 87 funds sold all Freeport-McMoRan Inc shares owned while 221 reduced positions. 68 funds bought stakes while 175 increased positions. They now own 889.86 million shares or 5.15% more from 846.29 million shares in 2016Q1.
Foundation Mngmt last reported 575,680 shares in the company. Dynamic Capital Management Ltd reported 218,699 shares or 0.29% of all its holdings. Wesbanco Fincl Bank owns 13,080 shares or 0.01% of their US portfolio. Gemmer Asset Mngmt Ltd, a California-based fund reported 1,997 shares. Tdam Usa Inc owns 11,412 shares or 0.01% of their US portfolio. Asset Mngmt Incorporated, a New York-based fund reported 24,746 shares. Hightower Advsr Ltd last reported 0.01% of its portfolio in the stock. Bb&T Secs Ltd Llc, a Virginia-based fund reported 64,533 shares. Cleararc Capital has invested 0.07% of its portfolio in Freeport-McMoRan Inc (NYSE:FCX). Rothschild Investment Corporation Il reported 15,087 shares or 0.02% of all its holdings. Wellington Shields Cap Mngmt Ltd Liability Co last reported 13,900 shares in the company. Fernwood Mngmt Lc, a Massachusetts-based fund reported 11,020 shares. Rech Invsts has invested 0.43% of its portfolio in Freeport-McMoRan Inc (NYSE:FCX). Utd Services Automobile Association, a Texas-based fund reported 1.63M shares. Ftb Advsrs holds 13,948 shares or 0.02% of its portfolio.

More important recent Freeport-McMoRan Inc (NYSE:FCX) news were published by: Fool.com which released: “Better Buy: Freeport-McMoRan Inc. vs. Barrick Gold” on October 05, 2016, also Fool.com published article titled: “The Simple Reason Why Freeport-McMoRan Inc. Lost 21% of Its Value in August”, Investorplace.com published: “Why Chesapeake Energy Corporation (CHK), Freeport-McMoRan Inc (FCX) and J M …” on September 27, 2016. More interesting news about Freeport-McMoRan Inc (NYSE:FCX) was released by: Investorplace.com and their article: “Why Wells Fargo & Co (WFC), Freeport-McMoRan Inc (FCX) and Potash Corporation …” with publication date: September 13, 2016.

FCX Company Profile

Freeport-McMoRan Inc. (FCX), incorporated on November 10, 1987, is a natural resource firm with a portfolio of mineral assets, and oil and natural gas resources. The Company’s divisions include the Morenci, Cerro Verde, Grasberg and Tenke Fungurume copper mines, the Rod & Refining activities and the U.S. Oil & Gas Operations. FCX has organized its activities into five primary divisions: North America copper mines, South America mining, Indonesia mining, Africa mining and Molybdenum mines. The Company’s portfolio of assets includes the Grasberg minerals district in Indonesia, mining activities in North and South America, the Tenke Fungurume (Tenke) minerals district in the Democratic Republic of Congo (DRC) in Africa, and oil and natural gas assets in the United States.

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