B. Riley restated their neutral rating on shares of Freeport-McMoRan (NYSE:FCX) in a report published on Thursday morning, MarketBeat.com reports. The firm currently has a $18.00 target price on the natural resource company’s stock, up from their prior target price of $16.00. B. Riley also issued estimates for Freeport-McMoRan’s Q4 2017 earnings at $0.48 EPS, FY2017 earnings at $1.13 EPS, Q1 2018 earnings at $0.49 EPS, Q2 2018 earnings at $0.47 EPS, Q3 2018 earnings at $0.41 EPS, Q4 2018 earnings at $0.41 EPS and FY2018 earnings at $1.79 EPS.

Other analysts have also issued reports about the stock. Zacks Investment Research raised shares of Freeport-McMoRan from a hold rating to a buy rating and set a $16.00 price objective for the company in a research note on Tuesday, October 10th. ValuEngine raised shares of Freeport-McMoRan from a hold rating to a buy rating in a research note on Thursday, October 26th. FBR & Co reaffirmed a hold rating and issued a $12.00 price objective on shares of Freeport-McMoRan in a research note on Thursday, October 26th. Jefferies Group reaffirmed a buy rating and issued a $19.00 price objective (down from $23.00) on shares of Freeport-McMoRan in a research note on Wednesday, October 4th. Finally, Scotiabank reaffirmed a hold rating and issued a $19.00 price objective on shares of Freeport-McMoRan in a research note on Monday, January 8th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $15.89.

Freeport-McMoRan (NYSE:FCX) traded up $0.56 during midday trading on Thursday, hitting $19.96. 22,635,588 shares of the stock were exchanged, compared to its average volume of 20,610,000. The company has a current ratio of 2.02, a quick ratio of 1.32 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $28,890.00, a PE ratio of 27.72 and a beta of 2.51. Freeport-McMoRan has a 12-month low of $11.05 and a 12-month high of $20.16.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings results on Wednesday, October 25th. The natural resource company reported $0.34 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.03. The firm had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.06 billion. Freeport-McMoRan had a net margin of 6.20% and a return on equity of 13.35%. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.13 earnings per share. research analysts forecast that Freeport-McMoRan will post 1.13 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the business. Sun Life Financial INC lifted its position in shares of Freeport-McMoRan by 96,340.0% during the second quarter. Sun Life Financial INC now owns 9,644 shares of the natural resource company’s stock valued at $116,000 after buying an additional 9,634 shares during the last quarter. Schroder Investment Management Group lifted its position in shares of Freeport-McMoRan by 2,015.5% during the second quarter. Schroder Investment Management Group now owns 11,487 shares of the natural resource company’s stock valued at $139,000 after buying an additional 10,944 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Freeport-McMoRan during the third quarter valued at about $140,000. Rothschild Investment Corp IL purchased a new stake in shares of Freeport-McMoRan during the third quarter valued at about $147,000. Finally, Belpointe Asset Management LLC purchased a new stake in shares of Freeport-McMoRan during the third quarter valued at about $150,000. 68.06% of the stock is owned by institutional investors and hedge funds.

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About Freeport-McMoRan

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.

Analyst Recommendations for Freeport-McMoRan (NYSE:FCX)

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