In a report released today, Orest Wowkodaw from Scotiabank maintained a Buy rating on Freeport-McMoRan (FCX – Research Report), with a price target of $49.00. The company’s shares closed yesterday at $39.72.
Wowkodaw covers the Basic Materials sector, focusing on stocks such as First Quantum Minerals, Teck Resources, and Hudbay Minerals. According to TipRanks, Wowkodaw has an average return of 12.2% and a 52.19% success rate on recommended stocks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Freeport-McMoRan with a $45.95 average price target.
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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 Earnings Call Slides Released
- Options Volatility and Implied Earnings Moves Today, January 24, 2024
- Freeport-McMoRan price target raised to $43 from $42 at JPMorgan
- Options Volatility and Implied Earnings Moves This Week, January 22 – January 26, 2024
- Freeport-McMoRan, Inc. (FCX) Q4 Earnings Cheat Sheet
