Freeport-McMoRan (NYSE:FCX) was upgraded by equities researchers at Jefferies Group to a “top pick” rating in a research report issued on Wednesday.
http://sleekmoney.com/...d-to-top-pick-at-jefferies-group-fcx/168284/
Shares of Freeport-McMoRan (NYSE:FCX) opened at 18.81 on Wednesday. Freeport-McMoRan has a 52 week low of $16.43 and a 52 week high of $39.32. The stock’s 50-day moving average is $19. and its 200-day moving average is $26.. The company’s market cap is $19.54 billion.
Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings results on Tuesday, January 27th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by $0.10. The company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $4.93 billion. During the same quarter in the previous year, the company posted $0.86 earnings per share. The company’s revenue for the quarter was down 11.0% on a year-over-year basis. Analysts expect that Freeport-McMoRan will post $1.01 EPS for the current fiscal year.
A number of other firms have also recently commented on FCX. Analysts at Deutsche Bank lowered their price target on shares of Freeport-McMoRan from $36.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Analysts at Argus lowered their price target on shares of Freeport-McMoRan from $42.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, February 9th. Analysts at Zacks reiterated an “underperform” rating and set a $17.00 price target on shares of Freeport-McMoRan in a research note on Thursday, February 5th. Finally, analysts at Bank of America downgraded shares of Freeport-McMoRan from a “buy” rating to a “neutral” rating and set a $19.00 price target on the stock in a research note on Tuesday, February 3rd. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $32.65.
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