Freeport-McMoRan Inc (FCX) is Initiated by Citigroup to “Neutral”

Freeport-McMoRan Inc (FCX) was Initiated by Citigroup to “Neutral” and the brokerage firm has set the Price Target at $16. Citigroup advised their Clients and Investors in a research report released on Feb 21, 2017.

Based on several research reports , Freeport-McMoRan Inc was Resumed by JP Morgan to “Neutral” on Feb 9, 2017. Company shares were Reiterated by FBR & Co. on Feb 3, 2017 to “Mkt Perform”, Firm has raised the Price Target to $ 13 from a previous price target of $12 .Company shares were Reiterated by UBS on Dec 1, 2016 to “Buy”, Firm has raised the Price Target to $ 18 from a previous price target of $11 .Freeport-McMoRan Inc was Downgraded by Berenberg to ” Sell” on Nov 30, 2016.

On the company’s financial health, Freeport-McMoRan Inc reported $0.25 EPS for the quarter, missing the analyst consensus estimate by $ -0.08 based on the information available during the earnings call on Jan 25, 2017. Analyst had a consensus of $0.33. The company had revenue of $4377.00 million for the quarter, compared to analysts expectations of $4335.63 million. The company’s revenue was up 24.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.02 EPS.

Several company insiders have filed Insider transactions , on Feb 17, 2017, Harry M. Iv Conger (Pres & COO FM Americas) sold 77,500 shares at $15.24 per share price. According to the SEC, on Feb 17, 2017, C Donald Jr Whitmire (VP & Controller Financial Rptg) sold 2,525 shares at $15.22 per share price. On Sep 8, 2015, James C Flores (Vice Chairman of the Board) purchased 2,200,000 shares at $9.70 per share price, according to the Form-4 filing with the securities and exchange commission.

Freeport-McMoRan Inc closed down -0.16 points or -1.06% at $14.91 with 2,41,76,882 shares getting traded on Friday. Post opening the session at $15.22, the shares hit an intraday low of $14.8 and an intraday high of $15.31 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Freeport-McMoRan Inc. (FCX) is a natural resource company with an industry portfolio of mineral assets oil and natural gas resources and a production profile. FCX has organized its operations into six primary divisions: North America copper mines South America mining Indonesia mining Africa mining Molybdenum mines and United States oil and gas operations. The Company’s portfolio of assets includes the Grasberg minerals district in Indonesia mining operations 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 North America. The Company is also engaged in operating copper conversion facilities located in North America and a refinery three rod mills and a specialty copper products facility. The Company’s Atlantic Copper smelts and refines copper concentrates and markets refined copper and precious metals in slimes.

Freeport-McMoRan Inc

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