Freeport-McMoran (FCX) Receiving Somewhat Positive Press Coverage, Accern Reports
Headlines about Freeport-McMoran (NYSE:FCX) have been trending somewhat positive on Friday, according to Accern. The research firm identifies positive and negative news coverage by reviewing more than twenty million blog and news sources in real-time. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Freeport-McMoran earned a news sentiment score of 0.19 on Accern’s scale. Accern also gave news articles about the natural resource company an impact score of 45.8194993051761 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
Here are some of the media stories that may have effected Accern’s rankings:
- Freeport Mcmoran Copper & Gold Inc (NYSE:FCX) Sentiment Report (techkenyot.com)
- Freeport-Mcmoran Shares Up 23.7% Since SmarTrend’s Buy Recommendation (FCX) (mysmartrend.com)
- Stock Traders Buy Large Volume of Freeport-McMoran Put Options (FCX) (americanbankingnews.com)
- Freeport-McMoRan Inc. (FCX) noted a price change of 1.46% and Resolute Energy Corporation (REN) closes with a … – Stocks Gallery (stocksgallery.com)
- Morning Sector Snapshot: Precious Metals Climb, Airlines Tumble (finance.yahoo.com)
Freeport-McMoran (NYSE FCX) traded down 1.29% during trading on Friday, reaching $15.29. 18,066,313 shares of the company traded hands. The firm’s 50 day moving average price is $13.97 and its 200 day moving average price is $12.99. The firm has a market capitalization of $22.13 billion, a price-to-earnings ratio of 21.57 and a beta of 2.59. Freeport-McMoran has a 12-month low of $9.24 and a 12-month high of $17.06. Freeport-McMoran also was the recipient of unusually large options trading activity on Tuesday. Traders bought 19,476 put options on the company. This represents an increase of 110% compared to the average volume of 9,278 put options.
Freeport-McMoran (NYSE:FCX) last posted its quarterly earnings results on Tuesday, July 25th. The natural resource company reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by $0.04. The company had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.67 billion. Freeport-McMoran had a return on equity of 10.45% and a net margin of 5.97%. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.02) earnings per share. Equities research analysts expect that Freeport-McMoran will post $0.89 earnings per share for the current year.
A number of analysts have weighed in on FCX shares. Vetr upgraded shares of Freeport-McMoran from a “buy” rating to a “strong-buy” rating and set a $14.36 target price on the stock in a research report on Monday, May 1st. FBR & Co cut their target price on shares of Freeport-McMoran from $13.00 to $12.00 and set a “mkt perform” rating on the stock in a research report on Monday, May 1st. Jefferies Group LLC cut their target price on shares of Freeport-McMoran from $16.00 to $14.50 and set a “buy” rating on the stock in a research report on Thursday, June 8th. Deutsche Bank AG restated a “hold” rating and issued a $13.00 target price (down previously from $14.00) on shares of Freeport-McMoran in a research report on Sunday, June 25th. Finally, BidaskClub upgraded shares of Freeport-McMoran from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 27th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $14.32.
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Freeport-McMoran Company Profile
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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