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Main » Freeport-McMoran Copper & Gold, Inc. (NYSE:FCX) Under Analyst Spotlight

Freeport-McMoran Copper & Gold, Inc. (NYSE:FCX) Under Analyst Spotlight

21 April 2017

Production and exports at Freeport's mine in the eastern province of Papua have been disrupted due to a contract dispute between the company and the government. The high-yield debt issue has a 4.55% coupon and is set to mature on November 14, 2024.

A number of research analysts have commented on the company. JP Morgan Reinstates the company's stock to Neutral on 2/09/17 with no specific Price Target. Moreover, Deutsche Bank issued Downgrade rating for the stock on 21-Feb-17.

Amid volatile financial markets and the presidential election, various investment brokerages have made amendments to their price targets and ratings on shares of Freeport-McMoran Copper & Gold, Inc. They issued a "neutral" rating and a $16.00 target price for the company. Moreover, Oaktop Capital Management Ii L.P. has 4.27% invested in the company for 612,526 shares. Analysts anticipate that traders could see stock price minimum in the $4.9 range (lowest target price).

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Freeport McMoRan Inc (NYSE:FCX), the world's largest listed copper miner, has received an initial authorization to restart shipments of concentrate from its Grasberg mine in Indonesia. Overall, 16.02 Million shares exchanged hands versus its average trading volume of 26.07 Million shares.

Freeport-McMoran Copper & Gold, Inc. has a 50 day moving average of 12.92 and a 200 day moving average of 13.54. The stock touched its high share price of $17.06 on 01/24/17 and the stock also touched its Lowest price in the last 52-weeks of trading on 10/13/16 as $9.24. The stock's market cap is $17.54 billion.

If you look at the company's income statement over the past years, you will see that the company is constantly posting gross profit: In 2014, FCX earned gross profit of 5.24 Billion, in 2015 321 Million gross profit, while in 2016 Freeport-McMoRan Inc. (FCX) reported its Actual EPS of $0.25/share. Citigroup Inc started coverage on Freeport-McMoRan in a research report on Tuesday, February 21st. The firm earned $4.38 billion during the quarter, compared to the consensus estimate of $4.34 billion. Jefferies Group analyst C. Lafemina now forecasts that the natural resource company will post earnings of $1.75 per share for the year, up from their prior estimate of $1.67. Freeport-McMoRan's quarterly revenue was up 24.5% on a year-over-year basis. The Company operates through geographical assets with proven and probable reserves of copper, gold and molybdenum, and traded copper producer. The shares were sold at an average price of $15.24, for a total transaction of $1,181,100.00.

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The number of shares now held by investors is 1.45 Billion. The transaction was disclosed in a filing with the SEC, which is available through this link. The company has market capitalization of $5.32B. The shares were sold at an average price of $15.22, for a total transaction of $38,430.50.

Freeport-McMoRan Inc. (NYSE:FCX) Copper has a Current Ratio of 2.4 with a Quick Ratio value of 1.6. The disclosure for this sale can be found here. They now have a United States dollars 16 price target on the stock.

Hedge funds have recently added to or reduced their stakes in the stock. RiverPoint Capital Management LLC acquired a new position in Freeport-McMoran during the third quarter valued at about $114,000. Finally, HL Financial Services LLC raised its position in shares of Freeport-McMoRan by 7.5% in the third quarter. Over the past five trading sessions it is 4.28%; 10.91% for the month; 9.44% for the last quarter; 1.53% for the past six-months; and -16.9% for the last 12 months. Eventually, Freeport-McMoRan Inc. Copper exhibits an EPS value of 55.36% for the next five years. Johnson Investment Counsel Inc. now owns 10,882 shares of the natural resource company's stock worth $118,000 after buying an additional 657 shares in the last quarter. California Public Employees Retirement System now owns 5,355,593 shares of the natural resource company's stock worth $58,162,000 after buying an additional 649,400 shares during the period.

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Freeport-McMoran Copper & Gold, Inc. (NYSE:FCX) Under Analyst Spotlight