Freeport-McMoRan (NYSE:FCX) Upgraded at StockNews.com

Freeport-McMoRan (NYSE:FCX - Get Free Report) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating in a report released on Monday.

FCX has been the topic of several other reports. Jefferies Financial Group raised Freeport-McMoRan from a "hold" rating to a "buy" rating and increased their price objective for the company from $40.00 to $48.00 in a research report on Thursday, February 27th. Sanford C. Bernstein lowered shares of Freeport-McMoRan from an "outperform" rating to a "market perform" rating and reduced their price target for the stock from $51.00 to $46.00 in a research note on Tuesday, January 7th. Argus downgraded shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. BMO Capital Markets cut 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. Finally, Dbs Bank raised Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a report on Monday, March 10th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $52.04.

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Freeport-McMoRan Stock Down 12.4 %

Freeport-McMoRan stock traded down $4.75 during trading hours on Monday, hitting $33.46. The stock had a trading volume of 31,585,357 shares, compared to its average volume of 13,477,888. The stock's 50-day moving average price is $38.03 and its 200-day moving average price is $41.89. The stock has a market capitalization of $48.08 billion, a P/E ratio of 25.93, a price-to-earnings-growth ratio of 0.87 and a beta of 1.87. Freeport-McMoRan has a 12-month low of $33.44 and a 12-month high of $55.24. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31.

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

Institutional Trading of Freeport-McMoRan

Institutional investors have recently made changes to their positions in the business. Asset Planning Inc purchased a new stake in Freeport-McMoRan in the 4th quarter worth $25,000. Mizuho Bank Ltd. purchased a new stake in shares of Freeport-McMoRan in the fourth quarter worth about $26,000. Vision Financial Markets LLC bought a new position in Freeport-McMoRan during the fourth quarter valued at approximately $27,000. Laurel Wealth Advisors LLC grew its holdings in Freeport-McMoRan by 487.8% during the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company's stock valued at $28,000 after buying an additional 600 shares in the last quarter. Finally, Roxbury Financial LLC purchased a new position in Freeport-McMoRan during the 4th quarter valued at approximately $28,000. Hedge funds and other institutional investors 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.