CIBC World Markets Says That Freeport-McMoran Copper & Gold (NYSE:FCX) Has $18.00 Stock Target

September 17, 2017 - By Marie Mckinney

 CIBC World Markets Says That Freeport McMoran Copper & Gold (NYSE:FCX) Has $18.00 Stock Target

Investors sentiment decreased to 0.96 in 2016 Q4. Its down 0.02, from 0.98 in 2016Q3. It worsened, as 61 investors sold Freeport-McMoRan Inc shares while 223 reduced holdings. 99 funds opened positions while 175 raised stakes. 995.10 million shares or 5.90% more from 939.67 million shares in 2016Q3 were reported.

Boston Family Office Lc holds 0.09% or 54,782 shares. Hrt Financial Ltd Liability Co has 0.36% invested in Freeport-McMoRan Inc (NYSE:FCX) for 21,359 shares. State Treasurer State Of Michigan has invested 0.04% in Freeport-McMoRan Inc (NYSE:FCX). Exane Derivatives holds 0% or 13,171 shares. Chevy Chase invested in 0.12% or 1.75 million shares. Moreover, Inv Centers Of America has 0.01% invested in Freeport-McMoRan Inc (NYSE:FCX) for 10,785 shares. Foundation holds 1.12% or 501,539 shares in its portfolio. 2.52 million were accumulated by Principal Group Inc. City stated it has 100 shares. Cipher Lp reported 131,270 shares stake. Hartford invested in 0.03% or 3,600 shares. Public Employees Retirement Association Of Colorado invested in 0.03% or 244,682 shares. Highland Cap Limited Liability invested in 0.17% or 152,689 shares. Ing Groep Nv accumulated 0.05% or 238,743 shares. Liberty Mutual Gp Asset Management holds 91,695 shares or 0.04% of its portfolio.

Why Has CIBC World Markets Given Freeport-McMoran Copper & Gold (NYSE:FCX) a $18.00 Price Target

Analysts at CIBC World Markets began coverage on shares of Freeport-McMoran Copper & Gold (NYSE:FCX) in a note revealed to clients on Friday morning. The company set Sector Outperform rating on the stock. CIBC World Markets’s target price per share of $18.00 suggests potential of 29.68 % from the stock’s last stock close.

Investors sentiment decreased to 0.96 in 2016 Q4. Its down 0.02, from 0.98 in 2016Q3. It worsened, as 61 investors sold Freeport-McMoRan Inc shares while 223 reduced holdings. 99 funds opened positions while 175 raised stakes. 995.10 million shares or 5.90% more from 939.67 million shares in 2016Q3 were reported.

Boston Family Office Lc holds 0.09% or 54,782 shares. Hrt Financial Ltd Liability Co has 0.36% invested in Freeport-McMoRan Inc (NYSE:FCX) for 21,359 shares. State Treasurer State Of Michigan has invested 0.04% in Freeport-McMoRan Inc (NYSE:FCX). Exane Derivatives holds 0% or 13,171 shares. Chevy Chase invested in 0.12% or 1.75 million shares. Moreover, Inv Centers Of America has 0.01% invested in Freeport-McMoRan Inc (NYSE:FCX) for 10,785 shares. Foundation holds 1.12% or 501,539 shares in its portfolio. 2.52 million were accumulated by Principal Group Inc. City stated it has 100 shares. Cipher Lp reported 131,270 shares stake. Hartford invested in 0.03% or 3,600 shares. Public Employees Retirement Association Of Colorado invested in 0.03% or 244,682 shares. Highland Cap Limited Liability invested in 0.17% or 152,689 shares. Ing Groep Nv accumulated 0.05% or 238,743 shares. Liberty Mutual Gp Asset Management holds 91,695 shares or 0.04% of its portfolio.

Freeport-McMoRan Inc (NYSE:FCX) Ratings Coverage

Among 23 analysts covering Freeport-McMoran Copper & Gold (NYSE:FCX), 6 have Buy rating, 5 Sell and 12 Hold. Therefore 26% are positive. Freeport-McMoran Copper & Gold has $25 highest and $5 lowest target. $14.61’s average target is 5.26% above currents $13.88 stock price. Freeport-McMoran Copper & Gold had 78 analyst reports since July 28, 2015 according to SRatingsIntel. On Friday, July 31 the stock rating was maintained by Deutsche Bank with “Buy”. The rating was downgraded by Citigroup on Tuesday, September 1 to “Neutral”. Jefferies maintained Freeport-McMoRan Inc (NYSE:FCX) rating on Monday, August 28. Jefferies has “Buy” rating and $18.0 target. As per Thursday, June 8, the company rating was maintained by Jefferies. On Thursday, September 7 the stock rating was initiated by Macquarie Research with “Hold”. The firm has “Mkt Perform” rating by FBR Capital given on Friday, September 18. The firm earned “Sell” rating on Friday, July 21 by Berenberg. The rating was downgraded by Jefferies on Tuesday, January 12 to “Hold”. The company was maintained on Tuesday, July 18 by Stifel Nicolaus. The stock has “Mkt Perform” rating by FBR Capital on Thursday, December 10.

The stock increased 0.11% or $0.02 on September 15, reaching $13.88. About 21.27M shares traded or 9.47% up from the average. Freeport-McMoRan Inc (NYSE:FCX) has risen 6.83% since September 17, 2016 and is uptrending. It has underperformed by 9.87% the S&P500.

Wall Street await Freeport-McMoRan Inc (NYSE:FCX) to release earnings on October, 24. Analysts forecast earnings per share of $0.23, up exactly $0.10 or 76.92 % from 2014’s $0.13 EPS. The expected FCX’s profit could reach $332.90M giving the stock 15.09 P/E in the case that $0.23 earnings per share is reported. After posting $0.17 EPS for the previous quarter, Freeport-McMoRan Inc’s analysts now forecast 35.29 % EPS growth.

Freeport-McMoRan Inc. is a mining company. The company has market cap of $20.09 billion. The Firm operates through geographical assets with proven and probable reserves of copper, gold and molybdenum, and traded copper producer. It has a 19.39 P/E ratio. The Company’s divisions include refined copper products, copper in concentrate, gold, molybdenum, oil and other.

More notable recent Freeport-McMoRan Inc (NYSE:FCX) news were published by: Seekingalpha.com which released: “Freeport-McMoRan’s Agreement With The Indonesian Government Is Not A Killer …” on August 30, 2017, also Seekingalpha.com with their article: “Freeport-McMoRan: More Upside To Come” published on August 23, 2017, Investorplace.com published: “Trade of the Day: Freeport-McMoRan Inc (FCX) Stock Is Rally-Ready” on August 22, 2017. More interesting news about Freeport-McMoRan Inc (NYSE:FCX) were released by: Realmoney.Thestreet.com and their article: “Freeport-McMoRan Looks a Little Vulnerable” published on September 14, 2017 as well as Seekingalpha.com‘s news article titled: “Freeport-McMoRan: A Major Development” with publication date: August 29, 2017.

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