Scotiabank analyst Orest Wowkodaw maintained a Buy rating on Freeport-McMoRan (FCX – Research Report) today and set a price target of $53.00. The company’s shares closed yesterday at $47.99.
Wowkodaw covers the Basic Materials sector, focusing on stocks such as Ero Copper, Freeport-McMoRan, and Hudbay Minerals. According to TipRanks, Wowkodaw has an average return of 13.2% and a 53.43% success rate on recommended stocks.
In addition to Scotiabank, Freeport-McMoRan also received a Buy from Bank of America Securities’s Lawson Winder in a report issued yesterday. However, on the same day, RBC Capital reiterated a Hold rating on Freeport-McMoRan (NYSE: FCX).
The company has a one-year high of $52.42 and a one-year low of $32.58. Currently, Freeport-McMoRan has an average volume of 14.24M.
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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.
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