It Seems Freeport-McMoRan Inc. (FCX) Will Go Up. Just Reaches 52-Week High

January 20, 2018 - By Dolores Ford

Investors sentiment is 1 in 2017 Q3. Its the same as in 2017Q2. It is the same, as 57 investors sold Freeport-McMoRan Inc. shares while 214 reduced holdings. only 91 funds opened positions while 181 raised stakes. 961.13 million shares or 0.14% less from 962.50 million shares in 2017Q2 were reported.
M Securities Incorporated holds 0.42% or 94,508 shares. Caxton Associates Lp accumulated 450,000 shares. Cs Mckee Lp stated it has 0.51% of its portfolio in Freeport-McMoRan Inc. (NYSE:FCX). Public Employees Retirement Systems Of Ohio invested 0.04% in Freeport-McMoRan Inc. (NYSE:FCX). Aqr Cap Management reported 12.82M shares. Fifth Third Bancshares owns 0% invested in Freeport-McMoRan Inc. (NYSE:FCX) for 5,577 shares. 572,863 were accumulated by Gotham Asset Ltd Liability. D E Shaw And stated it has 0.1% in Freeport-McMoRan Inc. (NYSE:FCX). Bluecrest Cap Management Limited holds 0.01% or 19,951 shares in its portfolio. Alliancebernstein L P holds 0.03% or 2.61 million shares in its portfolio. Boothbay Fund Management Lc has invested 0.05% in Freeport-McMoRan Inc. (NYSE:FCX). Greenwich Wealth Mgmt Limited Liability Company owns 315,537 shares for 0.76% of their portfolio. 134,245 are owned by Canandaigua Savings Bank &. Advisor Prns Limited Liability Com has 0.14% invested in Freeport-McMoRan Inc. (NYSE:FCX). Amer National Ins Tx reported 0.01% in Freeport-McMoRan Inc. (NYSE:FCX).

Since August 21, 2017, it had 0 buys, and 1 insider sale for $15,435 activity.

The stock of Freeport-McMoRan Inc. (NYSE:FCX) hit a new 52-week high and has $20.56 target or 3.00 % above today’s $19.96 share price. The 6 months bullish chart indicates low risk for the $28.89B company. The 1-year high was reported on Jan, 20 by Barchart.com. If the $20.56 price target is reached, the company will be worth $866.82M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 2.89% or $0.56 during the last trading session, reaching $19.96. About 22.64 million shares traded or 26.25% up from the average. Freeport-McMoRan Inc. (NYSE:FCX) has risen 6.83% since January 20, 2017 and is uptrending. It has underperformed by 9.87% the S&P500.

Analysts await Freeport-McMoRan Inc. (NYSE:FCX) to report earnings on January, 24. They expect $0.43 earnings per share, up 72.00 % or $0.18 from last year’s $0.25 per share. FCX’s profit will be $622.47M for 11.60 P/E if the $0.43 EPS becomes a reality. After $0.34 actual earnings per share reported by Freeport-McMoRan Inc. for the previous quarter, Wall Street now forecasts 26.47 % EPS growth.

Freeport-McMoRan Inc. (NYSE:FCX) Ratings Coverage

Among 23 analysts covering Freeport-McMoran Copper & Gold (NYSE:FCX), 5 have Buy rating, 5 Sell and 13 Hold. Therefore 22% are positive. Freeport-McMoran Copper & Gold had 92 analyst reports since July 28, 2015 according to SRatingsIntel. As per Tuesday, February 21, the company rating was initiated by Citigroup. On Monday, October 30 the stock rating was maintained by UBS with “Neutral”. The firm has “Outperform” rating given on Monday, November 21 by Cowen & Co. The firm has “Equal-Weight” rating given on Wednesday, March 30 by Barclays Capital. The rating was downgraded by Berenberg on Wednesday, July 12 to “Sell”. The firm earned “Hold” rating on Wednesday, March 22 by Berenberg. The company was downgraded on Thursday, November 17 by Deutsche Bank. Jefferies downgraded Freeport-McMoRan Inc. (NYSE:FCX) on Tuesday, January 12 to “Hold” rating. The stock has “Hold” rating by Deutsche Bank on Tuesday, March 21. On Tuesday, August 11 the stock rating was maintained by RBC Capital Markets with “Sector Perform”.

More notable recent Freeport-McMoRan Inc. (NYSE:FCX) news were published by: Fool.com which released: “Is Freeport-McMoRan Inc. a Buy?” on January 13, 2018, also Seekingalpha.com with their article: “3 Reasons To Buy Freeport-McMoRan” published on January 05, 2018, Fool.com published: “Why Freeport-McMoRan Inc. Stock Exploded 36% Higher in December” on January 05, 2018. More interesting news about Freeport-McMoRan Inc. (NYSE:FCX) were released by: Investorplace.com and their article: “Wednesday’s Vital Data: Apple Inc, Micron Technology, Inc. and Freeport …” published on December 27, 2017 as well as Fool.com‘s news article titled: “Better Buy: Freeport-McMoRan Inc. vs. Alcoa Corp” with publication date: December 21, 2017.

Freeport-McMoRan Inc. engages in the mining of mineral properties in the United States, Indonesia, Peru, and Chile. The company has market cap of $28.89 billion. It primarily explores for copper concentrate, copper cathode, copper rod, gold, molybdenum, silver, and other metals, as well as gas and oil. It has a 27.01 P/E ratio. The companyÂ’s portfolio of assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde and El Abra mines in South America.

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