Freeport-McMoran (FCX) : Analyst Rating Update

Freeport-McMoran (FCX) : Zacks Investment Research ranks Freeport-McMoran (FCX) as 3, which is a Hold recommendation. 3 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 1 more believe that the stock has more downside risks, hence they propose a Strong Sell. A total of 11 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 15 research analysts is 2.73, which indicates as a Hold.

Freeport-McMoran (FCX) : The highest short term price target forecast on Freeport-McMoran (FCX) is $15 and the lowest target price is $6. A total of 12 equity analysts are currently covering the company. The average price of all the analysts is $10.71 with a standard deviation of $2.52.

Freeport-McMoran (NYSE:FCX): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $10.45 and $10.27 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $10.90. The buying momentum continued till the end and the stock did not give up its gains. It closed at $10.89, notching a gain of 3.71% for the day. The total traded volume was 29,891,349 . The stock had closed at $10.50 on the previous day.

Also, Goldman Sachs initiates coverage on Freeport-McMoran (NYSE:FCX) The current rating of the shares is Neutral. Equity Analysts at the Firm announces the price target to $12 per share. The rating by the firm was issued on May 19, 2016. The company shares have dropped -36.36% from its 1 Year high price. On Jul 10, 2015, the shares registered one year high at $17.50 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $11.03 and the 200 Day Moving Average price is recorded at $8.99.

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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *