An issue of Freeport-McMoRan Inc. (NYSE:FCX) debt rose 3.1% as a percentage of its face value during trading on Thursday. The high-yield debt issue has a 4.55% coupon and is set to mature on November 14, 2024. The debt is now trading at $96.13 and was trading at $93.00 one week ago. Price moves in a company’s debt in credit markets often anticipate parallel moves in its share price.

A number of research analysts have recently commented on FCX shares. Cowen and Company lifted their price objective on shares of Freeport-McMoRan from $15.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday. Deutsche Bank AG reissued a “buy” rating and issued a $12.50 price objective on shares of Freeport-McMoRan in a research report on Tuesday, October 18th. Vetr downgraded shares of Freeport-McMoRan from a “sell” rating to a “strong sell” rating and set a $11.88 target price for the company. in a report on Monday, November 14th. Bank of America Corp. started coverage on shares of Freeport-McMoRan in a report on Monday, October 17th. They set an “underperform” rating and a $8.00 target price for the company. Finally, Barclays PLC lifted their target price on shares of Freeport-McMoRan from $10.00 to $11.00 and gave the stock an “equal weight” rating in a report on Monday, August 8th. Six research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $10.97.

Shares of Freeport-McMoRan Inc. (NYSE:FCX) traded up 7.21% during trading on Thursday, reaching $16.21. 68,779,350 shares of the company’s stock traded hands. The company’s market cap is $22.07 billion. The company’s 50-day moving average is $11.58 and its 200 day moving average is $11.38. Freeport-McMoRan Inc. has a 52-week low of $3.52 and a 52-week high of $16.42.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Tuesday, October 25th. The natural resource company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by $0.06. Freeport-McMoRan had a negative net margin of 58.67% and a negative return on equity of 0.72%. The firm earned $3.88 billion during the quarter, compared to the consensus estimate of $3.95 billion. During the same quarter last year, the business posted ($0.15) earnings per share. Freeport-McMoRan’s revenue was up 14.6% compared to the same quarter last year. Equities analysts forecast that Freeport-McMoRan Inc. will post $0.25 EPS for the current year.

In other news, Director Courtney Mather acquired 150,000 shares of the business’s stock in a transaction dated Thursday, October 27th. The stock was bought at an average cost of $10.72 per share, for a total transaction of $1,608,000.00. Following the completion of the transaction, the director now owns 65,523 shares of the company’s stock, valued at $702,406.56. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.40% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in FCX. First Heartland Consultants Inc. purchased a new position in Freeport-McMoRan during the third quarter worth approximately $158,000. HighPoint Advisor Group LLC raised its position in Freeport-McMoRan by 1.8% in the third quarter. HighPoint Advisor Group LLC now owns 23,803 shares of the natural resource company’s stock worth $328,000 after buying an additional 426 shares during the period. D.A. Davidson & CO. raised its position in Freeport-McMoRan by 36.5% in the third quarter. D.A. Davidson & CO. now owns 278,177 shares of the natural resource company’s stock worth $3,018,000 after buying an additional 74,384 shares during the period. Price T Rowe Associates Inc. MD raised its position in Freeport-McMoRan by 43.7% in the third quarter. Price T Rowe Associates Inc. MD now owns 3,727,465 shares of the natural resource company’s stock worth $40,480,000 after buying an additional 1,133,646 shares during the period. Finally, LPL Financial LLC purchased a new position in Freeport-McMoRan during the third quarter worth approximately $114,000. Institutional investors own 68.54% of the company’s stock.

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Freeport-McMoRan Company Profile

Freeport-McMoRan Inc (FCX) is a natural resource company with a portfolio of mineral assets, and oil and natural gas resources. The Company’s segments include the Morenci, Cerro Verde, Grasberg and Tenke Fungurume copper mines, the Rod & Refining operations and the U.S. Oil & Gas Operations. It has organized its operations into five primary divisions: North America copper mines, South America mining, Indonesia mining, Africa mining and Molybdenum mines.

5 Day Chart for NYSE:FCX

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