January 11, 2017 - By kentuckypostne · 0 Comments
Freeport Mcmoran Copper & Gold Inc (NYSE:FCX) institutional sentiment increased to 0.98 in Q3 2016. Its up 0.19, from 0.79 in 2016Q2. The ratio is more positive, as 256 funds opened new or increased stock positions, while 262 sold and trimmed holdings in Freeport Mcmoran Copper & Gold Inc. The funds in our partner’s database now hold: 939.67 million shares, up from 889.86 million shares in 2016Q2. Also, the number of funds holding Freeport Mcmoran Copper & Gold Inc in their top 10 stock positions was flat from 7 to 7 for the same number . Sold All: 58 Reduced: 204 Increased: 182 New Position: 74.
Freeport-McMoRan Inc. is a natural resource firm with a portfolio of mineral assets, and oil and natural gas resources. The company has a market cap of $22.56 billion. The Company’s divisions include the Morenci, Cerro Verde, Grasberg and Tenke Fungurume copper mines, the Rod & Refining activities and the U.S. It currently has negative earnings. Oil & Gas Operations.
About 21.85 million shares traded hands. Freeport-McMoRan Inc (NYSE:FCX) has risen 38.35% since June 7, 2016 and is uptrending. It has outperformed by 30.92% the S&P500.
Analysts await Freeport-McMoRan Inc (NYSE:FCX) to report earnings on January, 24. They expect $0.26 EPS, up 1,400.00% or $0.28 from last year’s $-0.02 per share. FCX’s profit will be $374.96 million for 15.05 P/E if the $0.26 EPS becomes a reality. After $0.13 actual EPS reported by Freeport-McMoRan Inc for the previous quarter, Wall Street now forecasts 100.00% EPS growth.
According to Zacks Investment Research, “Freeport-McMoRan is engaged in mineral exploration and development, mining and milling of copper, gold, and silver in Indonesia, and the smelting and refining of copper concentrates in Spain and Indonesia. They are the world’s lowest-cost copper producer and one of the world’s largest producers of copper and gold. FCX’s operations are conducted through its subsidiaries, P.T. Freeport Indonesia (PT-FI), P.T. IRJA Eastern Minerals Corporation (Eastern Mining) and through Atlantic Copper, S.A. (Atlantic).”
Stuyvesant Capital Management holds 8.12% of its portfolio in Freeport-McMoRan Inc for 321,815 shares. Icahn Carl C owns 104.00 million shares or 5.7% of their US portfolio. Moreover, Duquesne Family Office Llc has 4.68% invested in the company for 4.88 million shares. The Massachusetts-based Northern Cross Llc has invested 4.38% in the stock. Pacific Heights Asset Management Llc, a California-based fund reported 4.07 million shares.#img1#
Insider Transactions: Since January 1, 0001, the stock had 1 insider purchase, and 0 sales for $1.61 million net activity.
Ratings analysis reveals 26% of Freeport-McMoran Copper & Gold’s analysts are positive. Out of 19 Wall Street analysts rating Freeport-McMoran Copper & Gold, 5 give it “Buy”, 6 “Sell” rating, while 8 recommend “Hold”. The lowest target is $5 while the high is $25. The stock’s average target of $12.63 is -19.25% below today’s ($15.64) share price. FCX was included in 52 notes of analysts from July 28, 2015. As per Wednesday, March 30, the company rating was initiated by Barclays Capital. The stock has “Buy” rating given by Deutsche Bank on Friday, July 31. Deutsche Bank maintained the stock with “Buy” rating in Monday, August 31 report. As per Friday, September 18, the company rating was initiated by FBR Capital. Cowen & Co maintained the shares of FCX in a report on Friday, July 24 with “Outperform” rating. The stock of Freeport-McMoRan Inc (NYSE:FCX) earned “Neutral” rating by Citigroup on Tuesday, September 1. The firm earned “Hold” rating on Tuesday, January 12 by Jefferies. The firm has “Overweight” rating by Morgan Stanley given on Tuesday, August 18. FBR Capital maintained Freeport-McMoRan Inc (NYSE:FCX) rating on Wednesday, July 20. FBR Capital has “Mkt Perform” rating and $11 price target. The stock of Freeport-McMoRan Inc (NYSE:FCX) has “Hold” rating given on Thursday, November 17 by Deutsche Bank.
Freeport-McMoRan Inc. (FCX), incorporated on November 10, 1987, is a natural resource firm with a portfolio of mineral assets, and oil and natural gas resources. The Company’s divisions include the Morenci, Cerro Verde, Grasberg and Tenke Fungurume copper mines, the Rod & Refining activities and the U.S. Oil & Gas Operations. FCX has organized its activities into five primary divisions: North America copper mines, South America mining, Indonesia mining, Africa mining and Molybdenum mines. The Company’s portfolio of assets includes the Grasberg minerals district in Indonesia, mining activities in North and South America, the Tenke Fungurume (Tenke) minerals district in the Democratic Republic of Congo (DRC) in Africa, and oil and natural gas assets in the United States.
More recent Freeport-McMoRan Inc (NYSE:FCX) news were published by: Seekingalpha.com which released: “Freeport-McMoRan: Red Flags” on January 10, 2017. Also Fool.com published the news titled: “Better Buy: Freeport-McMoRan Inc. vs. Silver Wheaton” on December 27, 2016. Schaeffersresearch.com‘s news article titled: “Analyst Upgrades: Illumina, Inc., Barracuda Networks Inc, and Freeport-McMoRan Inc” with publication date: January 10, 2017 was also an interesting one.
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