Brokerage Firm Rating Update on Freeport-McMoran (FCX)

Freeport-McMoran (FCX) : 3 brokerage houses believe that Freeport-McMoran (FCX) is a Strong Buy at current levels. 9 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Freeport-McMoran (FCX). Zacks Investment Research suggests a Hold with a rank of 3. 1 others believe that the stock has run up ahead of its fundamentals and advise a Strong Sell on the stock.The median of all the 13 Wall Street Analysts endorse the stock as a Hold with a rating of 2.69.

Freeport-McMoran (FCX) stock is expected to deviate a maximum of $2.28 from the average target price of $11.5 for the short term period. 11 Street Experts have initiated coverage on the stock with the most promising target being $15 and the most muted being $8.


Company shares have received an average consensus rating of Hold for the current week Also, Major Brokerage house, Barclays maintains its ratings on Freeport-McMoran (NYSE:FCX). In the latest research report, Barclays raises the target price from $10 per share to $11 per share. According to the latest information available, the shares are now rated Equal-weight by the analysts at the agency. The rating by the firm was issued on August 8, 2016.

Freeport-McMoran (NYSE:FCX): stock was range-bound between the intraday low of $10.49 and the intraday high of $10.83 after having opened at $10.71 on Wednesdays session. The stock finally closed in the red at $10.71, a loss of -1.12%. The stock remained in the red for the whole trading day. The total traded volume was 18,440,350 shares. The stock failed to cross $10.83 in Wednesdays trading. The stocks closing price on Thursday was $10.72.

Freeport-McMoRan Inc. (FCX) is a natural resource company with an industry portfolio of mineral assets, oil and natural gas resources, and a production profile. FCX has organized its operations into six primary divisions: North America copper mines, South America mining, Indonesia mining, Africa mining, Molybdenum mines, and United States oil and gas operations. The Companys portfolio of assets includes the Grasberg minerals district in Indonesia, mining operations 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 North America. The Company is also engaged in operating copper conversion facilities located in North America, and a refinery, three rod mills and a specialty copper products facility. The Companys Atlantic Copper smelts and refines copper concentrates and markets refined copper and precious metals in slimes.

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