Somewhat Positive Media Coverage Somewhat Unlikely to Impact Freeport-McMoran (FCX) Share Price
Media headlines about Freeport-McMoran (NYSE:FCX) have been trending somewhat positive on Tuesday, according to Accern Sentiment. Accern rates the sentiment of press coverage by analyzing more than 20 million blog and news sources in real-time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Freeport-McMoran earned a coverage optimism score of 0.22 on Accern’s scale. Accern also assigned media coverage about the natural resource company an impact score of 46.3406915824231 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
Here are some of the news headlines that may have impacted Accern Sentiment Analysis’s analysis:
- Freeport-McMoran, Inc. (FCX) Shares Bought by First Manhattan Co (expressnewsline.com)
- Offshore drilling co. announces more job cuts (finance.yahoo.com)
- Fear North Korea or Trump or an expensive stock market? This fund plays defense (finance.yahoo.com)
- Raymond James Financial, Inc. Initiates Coverage on Freeport-McMoran, Inc. (FCX) (americanbankingnews.com)
- Freeport-McMoran, Inc. (FCX) Sees Significant Decline in Short Interest (americanbankingnews.com)
Shares of Freeport-McMoran (FCX) traded down 1.27% during trading on Tuesday, hitting $13.97. The stock had a trading volume of 14,954,864 shares. The firm has a 50-day moving average price of $13.37 and a 200 day moving average price of $13.03. Freeport-McMoran has a 52 week low of $9.24 and a 52 week high of $17.06. The company has a market capitalization of $20.22 billion, a PE ratio of 19.70 and a beta of 2.59.
Freeport-McMoran (NYSE:FCX) last issued its earnings results on Tuesday, July 25th. The natural resource company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.21 by $0.04. The company had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.67 billion. Freeport-McMoran had a net margin of 5.97% and a return on equity of 10.45%. The company’s revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.02) earnings per share. Equities analysts anticipate that Freeport-McMoran will post $0.89 earnings per share for the current year.
Several analysts recently weighed in on the company. Clarkson Capital reaffirmed a “neutral” rating on shares of Freeport-McMoran in a research note on Monday, July 10th. ValuEngine lowered Freeport-McMoran from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Raymond James Financial, Inc. assumed coverage on Freeport-McMoran in a research note on Tuesday. They issued a “market perform” rating and a $15.00 price objective on the stock. BidaskClub upgraded Freeport-McMoran from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Finally, BMO Capital Markets set a $17.00 target price on Freeport-McMoran and gave the company a “hold” rating in a research report on Wednesday, July 26th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $14.32.
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Freeport-McMoRan Inc (FCX) is a mining company. The Company operates through geographical assets with proven and probable reserves of copper, gold and molybdenum, and traded copper producer. The Company’s segments include refined copper products, copper in concentrate, gold, molybdenum, oil and other.
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