RBC Capital analyst Sam Crittenden maintained a Hold rating on Freeport-McMoRan (FCX – Research Report) yesterday and set a price target of $55.00. The company’s shares closed yesterday at $41.03.
Crittenden covers the Basic Materials sector, focusing on stocks such as Freeport-McMoRan, Hudbay Minerals, and Capstone Copper. According to TipRanks, Crittenden has an average return of 19.2% and a 60.24% success rate on recommended stocks.
In addition to RBC Capital, Freeport-McMoRan also received a Hold from Citi’s Alexander Hacking in a report issued on January 3. However, on January 8, Bernstein upgraded Freeport-McMoRan (NYSE: FCX) to a Buy.
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Based on Freeport-McMoRan’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $5.74 billion and a net profit of $343 million. In comparison, last year the company earned a revenue of $5.42 billion and had a net profit of $840 million
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Freeport-McMoRan (FCX) Company Description:
Founded in 1987 and based in Arizona, Freeport-McMoRan, Inc. is a leading mining company, and focuses on exploring copper, gold, and molybdenum. Its portfolio of assets includes the Grasberg minerals district in Indonesia, one of the world’s largest copper and gold deposits; and significant mining operations in North America and South America, including the large-scale Morenci minerals district in Arizona and the Cerro Verde operation in Peru.
Read More on FCX:
- Freeport-McMoRan upgraded to Outperform from Market Perform at Bernstein
- Freeport-McMoRan price target raised to $43 from $42 at Raymond James
- Gold Fields falls over 10% after cutting production volumes, personnel issues
- Early notable gainers among liquid option names on December 8th
- Freeport McMoRan call volume above normal and directionally bullish
