Stock Rating Runner: What To Expect After Freeport-McMoRan (NYSE:FCX)’s Downgrade Rating From Berenberg?

November 30, 2016 - By Darrin Black

Stock Rating Runner: What To Expect After Freeport McMoRan (NYSE:FCX)'s Downgrade Rating From Berenberg?

Freeport-McMoRan (NYSE:FCX) Downgrade

Freeport-McMoRan (NYSE:FCX)‘s stock was cut to a “Sell” by stock analysts at Berenberg. FCX’s “Hold” rating is no longer valid.

Freeport-McMoRan Inc (NYSE:FCX) Ratings Coverage

Out of 18 analysts covering Freeport-McMoran Copper & Gold (NYSE:FCX), 5 rate it a “Buy”, 5 “Sell”, while 8 “Hold”. This means 28% are positive. $25 is the highest target while $5 is the lowest. The $11.88 average target is -21.38% below today’s ($15.11) stock price. Freeport-McMoran Copper & Gold has been the topic of 50 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The firm has “Sector Perform” rating by RBC Capital Markets given on Monday, January 25. The company was upgraded on Tuesday, September 1 by Zacks. The firm has “Hold” rating given on Thursday, November 17 by Deutsche Bank. The stock of Freeport-McMoRan Inc (NYSE:FCX) has “Sector Perform” rating given on Friday, September 25 by RBC Capital Markets. The stock of Freeport-McMoRan Inc (NYSE:FCX) has “Sector Perform” rating given on Tuesday, August 11 by RBC Capital Markets. The stock has “Hold” rating given by S&P Research on Tuesday, September 1. The stock of Freeport-McMoRan Inc (NYSE:FCX) has “Equal-Weight” rating given on Wednesday, March 30 by Barclays Capital. On Thursday, August 20 the stock rating was downgraded by Zacks to “Hold”. As per Wednesday, February 3, the company rating was downgraded by Argus Research. RBC Capital Markets maintained it with “Sector Perform” rating and $15 target price in Tuesday, October 27 report.

About 8.76 million shares traded hands. Freeport-McMoRan Inc (NYSE:FCX) has risen 18.34% since April 27, 2016 and is uptrending. It has outperformed by 13.11% the S&P500.

Analysts await Freeport-McMoRan Inc (NYSE:FCX) to report earnings on January, 24. They expect $0.26 earnings per share, up 1,400.00% or $0.28 from last year’s $-0.02 per share. FCX’s profit will be $335.88 million for 14.53 P/E if the $0.26 EPS becomes a reality. After $0.13 actual earnings per share reported by Freeport-McMoRan Inc for the previous quarter, Wall Street now forecasts 100.00% EPS growth.

Insitutional Activity: The institutional sentiment increased to 0.98 in 2016 Q2. Its up 0.19, from 0.79 in 2016Q1. The ratio is positive, as 87 funds sold all Freeport-McMoRan Inc shares owned while 221 reduced positions. 68 funds bought stakes while 175 increased positions. They now own 889.86 million shares or 5.15% more from 846.29 million shares in 2016Q1.

Prudential holds 0.03% or 1.70M shares in its portfolio. Arizona State Retirement System holds 0.05% or 307,162 shares in its portfolio. The Minnesota-based Thrivent Fin For Lutherans has invested 0.04% in Freeport-McMoRan Inc (NYSE:FCX). Oregon Pub Employees Retirement Fund last reported 0.15% of its portfolio in the stock. Edge Wealth Management Lc accumulated 0.01% or 1,500 shares. Robeco Institutional Asset Mngmt Bv owns 53,098 shares or 0% of their US portfolio. Paragon Capital Management holds 19,261 shares or 0.12% of its portfolio. Lenox Wealth Mgmt has invested 0.03% of its portfolio in Freeport-McMoRan Inc (NYSE:FCX). Farmers & Merchants Invs holds 0.01% of its portfolio in Freeport-McMoRan Inc (NYSE:FCX) for 4,095 shares. Reliance Trust Of Delaware last reported 106,237 shares in the company. Savant Capital Ltd Liability Corp holds 0.05% of its portfolio in Freeport-McMoRan Inc (NYSE:FCX) for 17,031 shares. Dimensional Fund Advsrs L P has 14.03M shares for 0.09% of their US portfolio. Susquehanna Grp Llp has 0% invested in the company for 102,300 shares. Moreover, Bridgeway Mngmt Inc has 0.56% invested in Freeport-McMoRan Inc (NYSE:FCX) for 3.23M shares. Diligent Investors Ltd Liability Corp last reported 0.2% of its portfolio in the stock.

Insider Transactions: Since October 27, 2016, the stock had 1 buy, and 0 sales for $1.61 million net activity. The insider MATHER COURTNEY bought $1.61 million.

Freeport-McMoRan Inc. is a natural resource firm with a portfolio of mineral assets, and oil and natural gas resources. The company has a market cap of $19.52 billion. The Company’s divisions include the Morenci, Cerro Verde, Grasberg and Tenke Fungurume copper mines, the Rod & Refining activities and the U.S. It currently has negative earnings. Oil & Gas Operations.

According to Zacks Investment Research, “Freeport-McMoRan is engaged in mineral exploration and development, mining and milling of copper, gold, and silver in Indonesia, and the smelting and refining of copper concentrates in Spain and Indonesia. They are the world’s lowest-cost copper producer and one of the world’s largest producers of copper and gold. FCX’s operations are conducted through its subsidiaries, P.T. Freeport Indonesia (PT-FI), P.T. IRJA Eastern Minerals Corporation (Eastern Mining) and through Atlantic Copper, S.A. (Atlantic).”

FCX Company Profile

Freeport-McMoRan Inc. (FCX), incorporated on November 10, 1987, is a natural resource firm with a portfolio of mineral assets, and oil and natural gas resources. The Company’s divisions include the Morenci, Cerro Verde, Grasberg and Tenke Fungurume copper mines, the Rod & Refining activities and the U.S. Oil & Gas Operations. FCX has organized its activities into five primary divisions: North America copper mines, South America mining, Indonesia mining, Africa mining and Molybdenum mines. The Company’s portfolio of assets includes the Grasberg minerals district in Indonesia, mining activities in North and South America, the Tenke Fungurume (Tenke) minerals district in the Democratic Republic of Congo (DRC) in Africa, and oil and natural gas assets in the United States.

Another recent and important Freeport-McMoRan Inc (NYSE:FCX) news was published by Fool.com which published an article titled: “Better Buy: Freeport-McMoRan Inc. vs. Hecla Mining” on November 21, 2016.

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