Are Freeport-McMoran, Inc. (NYSE:FCX) Shares Headed Higher?
- Author: Carolyn Briggs Mar 08, 2017,
Mar 08, 2017, 17:55
(NYSE:FCX) to post a current quarter EPS of $0.2. Following the sale, the vice president now directly owns 64,896 shares in the company, valued at approximately $1,000,696.32.
Freeport-McMoRan Inc.is now showing 343.5% EPS growth this year. Finally, BlackRock Fund Advisors raised its position in Freeport-McMoran by 5.1% in the third quarter. Arrowpoint Asset Management LLC bought a new stake in Freeport-McMoran during the fourth quarter valued at about $5,336,000. Hedge funds and other institutional investors own 66.80% of the company's stock. BlackRock Institutional Trust Company N.A. raised its position in Freeport-McMoran by 11.0% in the first quarter. Old West Investment Management LLC now owns 478,616 shares of the natural resource company's stock valued at $6,312,000 after buying an additional 15,876 shares during the period. The stock's 52-week range is $8.47 - $17.06. (NYSE:FCX) [Trend Analysis] runs in leading trade, it moving down -2.27% to traded at $12.90. The overall volume in the last trading session was 28.71 million shares. Freeport-McMoran, Inc. The stock has a 50-day moving average price of $15.21 and a 200 day moving average price of $13.04.
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Freeport-McMoran (NYSE:FCX) last issued its earnings results on Tuesday, October 25th.
Taking look on per share earnings estimates, its next year first quarter current estimate trend for EPS was for $0.07 and on annual basis FY 2016 estimate trends at current was for $1.00 as compared to one month ago of $-0.29, and for next year per share earnings estimates have $1.33. Freeport-McMoran had a negative net margin of 28.09% and a positive return on equity of 3.52%. The company earned $3.88 billion during the quarter, compared to analysts' expectations of $3.95 billion. The business's revenue for the quarter was up 24.5% compared to the same quarter past year.
February 20, 2017 - Freeport-McMoRan Inc. FBR & Co reaffirmed a "hold" rating on shares of Freeport-McMoran in a research note on Tuesday, February 21st.
The 22 analysts offering 12-month price forecasts for Freeport-McMoRan Inc have a median target of 14.00, with a high estimate of 24.00 and a low estimate of 4.90. Vetr's price objective suggests a potential upside of 5.25% from the stock's current price. Finally, JPMorgan Chase & Co. assumed coverage on shares of Freeport-McMoRan in a research report on Thursday, February 9th. They issued a "neutral" rating and a $14.00 price objective on the stock. The stock is a Buy among 8 brokerage firms polled by Factset Research. This the calculated average of the actual recommendations (strong buy, hold, sell etc.) made for a given stock. The lowest price target out of the polled analysts is presently $33.
In related news, COO Harry M. Iv Conger sold 77,500 shares of the business's stock in a transaction on Thursday, February 16th.
In order to arrive at a price target, analysts and investors alike use various metrics to determine where the stock might be headed. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The share price is now -12.52 percent versus its SMA20, -14.87 percent versus its SMA50, and 0.6 percent versus its SMA200. State Street Corp now owns 56,651,387 shares of the natural resource company's stock worth $631,088,000 after buying an additional 311,054 shares during the period.