Today BMO Capital Reiterates a Market Perform Rating on Freeport-McMoRan (NYSE:FCX) and a $17 Target Price

April 26, 2018 - By Henry Gaston

Freeport-McMoRan Inc. (NYSE:FCX) Logo

Investors sentiment decreased to 0.92 in Q4 2017. Its down 0.08, from 1 in 2017Q3. It is negative, as 77 investors sold Freeport-McMoRan Inc. shares while 205 reduced holdings. 78 funds opened positions while 182 raised stakes. 989.88 million shares or 2.99% more from 961.13 million shares in 2017Q3 were reported.

Aperio Group Inc Lc holds 610,497 shares or 0.06% of its portfolio. Fayez Sarofim & reported 0.01% stake. 244,121 were reported by Secor Capital Advsr Limited Partnership. Texas-based Moody Comml Bank Division has invested 0.01% in Freeport-McMoRan Inc. (NYSE:FCX). Moreover, Dimensional Fund Advsrs Ltd Partnership has 0.11% invested in Freeport-McMoRan Inc. (NYSE:FCX). Sigma Planning holds 0.02% or 15,835 shares. M Hldgs Securities has invested 0.19% of its portfolio in Freeport-McMoRan Inc. (NYSE:FCX). 110,988 were accumulated by Beck Capital Mgmt Limited Liability Corporation. Farmers & Merchants Invs reported 0% of its portfolio in Freeport-McMoRan Inc. (NYSE:FCX). Price T Rowe Associates Md accumulated 0.01% or 2.30M shares. Kistler accumulated 561 shares. Rodgers Brothers has invested 0.11% of its portfolio in Freeport-McMoRan Inc. (NYSE:FCX). Freestone Cap Limited Liability Corporation holds 41,465 shares or 0.05% of its portfolio. 14,600 were reported by Wellington Shields And Llc. Glg Partners Ltd Partnership invested 0.06% of its portfolio in Freeport-McMoRan Inc. (NYSE:FCX).

Since January 31, 2018, it had 0 insider buys, and 1 sale for $419,125 activity.

Freeport-McMoRan (NYSE:FCX) Rating Reaffirmed

In an analyst report released on Wednesday morning, The Market Perform rating of Freeport-McMoRan (NYSE:FCX) shares was maintained by Analysts at BMO Capital, who now has a $17 price target on the stock. BMO Capital’s price target means a possible upside of 10.61 % from the last stock close price of the company.

Investors sentiment decreased to 0.92 in Q4 2017. Its down 0.08, from 1 in 2017Q3. It is negative, as 77 investors sold Freeport-McMoRan Inc. shares while 205 reduced holdings. 78 funds opened positions while 182 raised stakes. 989.88 million shares or 2.99% more from 961.13 million shares in 2017Q3 were reported.

Aperio Group Inc Lc holds 610,497 shares or 0.06% of its portfolio. Fayez Sarofim & reported 0.01% stake. 244,121 were reported by Secor Capital Advsr Limited Partnership. Texas-based Moody Comml Bank Division has invested 0.01% in Freeport-McMoRan Inc. (NYSE:FCX). Moreover, Dimensional Fund Advsrs Ltd Partnership has 0.11% invested in Freeport-McMoRan Inc. (NYSE:FCX). Sigma Planning holds 0.02% or 15,835 shares. M Hldgs Securities has invested 0.19% of its portfolio in Freeport-McMoRan Inc. (NYSE:FCX). 110,988 were accumulated by Beck Capital Mgmt Limited Liability Corporation. Farmers & Merchants Invs reported 0% of its portfolio in Freeport-McMoRan Inc. (NYSE:FCX). Price T Rowe Associates Md accumulated 0.01% or 2.30M shares. Kistler accumulated 561 shares. Rodgers Brothers has invested 0.11% of its portfolio in Freeport-McMoRan Inc. (NYSE:FCX). Freestone Cap Limited Liability Corporation holds 41,465 shares or 0.05% of its portfolio. 14,600 were reported by Wellington Shields And Llc. Glg Partners Ltd Partnership invested 0.06% of its portfolio in Freeport-McMoRan Inc. (NYSE:FCX).

Since January 31, 2018, it had 0 insider buys, and 1 sale for $419,125 activity.

Freeport-McMoRan Inc. (NYSE:FCX) Ratings Coverage

Among 11 analysts covering Freeport-McMoRan (NYSE:FCX), 3 have Buy rating, 0 Sell and 8 Hold. Therefore 27% are positive. Freeport-McMoRan has $26.0 highest and $13 lowest target. $19.04’s average target is 23.88% above currents $15.37 stock price. Freeport-McMoRan had 19 analyst reports since October 30, 2017 according to SRatingsIntel. On Thursday, January 25 the stock rating was maintained by Jefferies with “Buy”. The firm has “Hold” rating by RBC Capital Markets given on Tuesday, April 3. The firm earned “Neutral” rating on Monday, January 22 by IBC. The firm has “Hold” rating by BMO Capital Markets given on Tuesday, April 24. The stock has “Hold” rating by Scotia Capital on Monday, January 8. The rating was maintained by Stifel Nicolaus with “Hold” on Tuesday, February 6. On Monday, April 9 the stock rating was maintained by Jefferies with “Buy”. Morgan Stanley maintained the stock with “Equal-Weight” rating in Monday, March 26 report. The firm has “Buy” rating given on Tuesday, April 24 by Cowen & Co. On Monday, December 18 the stock rating was maintained by BMO Capital Markets with “Hold”.

It closed at $15.37 lastly. It is down 41.20% since April 26, 2017 and is uptrending. It has outperformed by 29.65% the S&P500.

Freeport-McMoRan Inc. engages in the mining of mineral properties in the United States, Indonesia, Peru, and Chile. The company has market cap of $22.25 billion. It primarily explores for copper concentrate, copper cathode, copper rod, gold, molybdenum, silver, and other metals, as well as gas and oil. It has a 12.27 P/E ratio. The companyÂ’s portfolio of assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde and El Abra mines in South America.

Freeport-McMoRan Inc. (NYSE:FCX) Institutional Positions Chart

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