Dbs Bank Upgrades Freeport-McMoRan (NYSE:FCX) to Strong-Buy

Freeport-McMoRan (NYSE:FCX - Get Free Report) was upgraded by Dbs Bank from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other analysts have also issued reports about the company. Sanford C. Bernstein lowered Freeport-McMoRan from an "outperform" rating to a "market perform" rating and lowered their price objective for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. Argus cut shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft raised shares of Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 price target for the company in a research note on Thursday, March 6th. Scotiabank reduced their price objective on shares of Freeport-McMoRan from $48.00 to $45.00 and set a "sector perform" rating on the stock in a research note on Friday, January 24th. Finally, BMO Capital Markets dropped their target price on shares of Freeport-McMoRan from $54.00 to $50.00 and set an "outperform" rating for the company in a research report on Friday, January 24th. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $51.75.

Freeport-McMoRan Price Performance

Shares of FCX stock opened at $34.48 on Monday. Freeport-McMoRan has a 1 year low of $33.98 and a 1 year high of $55.24. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. The firm's 50 day moving average is $37.98 and its 200-day moving average is $42.28. The firm has a market capitalization of $49.54 billion, a price-to-earnings ratio of 26.73, a PEG ratio of 0.87 and a beta of 1.87.

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Freeport-McMoRan (NYSE:FCX - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. Sell-side analysts forecast that Freeport-McMoRan will post 1.68 EPS for the current fiscal year.

Institutional Trading of Freeport-McMoRan

Several hedge funds and other institutional investors have recently modified their holdings of FCX. Asset Planning Inc acquired a new stake in Freeport-McMoRan in the 4th quarter valued at approximately $25,000. Mizuho Bank Ltd. bought a new position in shares of Freeport-McMoRan during the 4th quarter worth approximately $26,000. Vision Financial Markets LLC acquired a new stake in shares of Freeport-McMoRan in the fourth quarter valued at approximately $27,000. Laurel Wealth Advisors LLC raised its holdings in shares of Freeport-McMoRan by 487.8% in the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company's stock valued at $28,000 after purchasing an additional 600 shares during the last quarter. Finally, Roxbury Financial LLC bought a new stake in shares of Freeport-McMoRan in the fourth quarter worth $28,000. Institutional investors and hedge funds own 80.77% of the company's stock.

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. It primarily explores for copper, gold, molybdenum, silver, and other metals. The company's assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Chino and Tyrone in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.

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