Deutsche Bank Upgrades Freeport-McMoRan Inc to Hold with Price Target $14

Brokerage firm Deutsche Bank Upgrades its rating on Freeport-McMoRan Inc(FCX). As per the latest information, Deutsche Bank Raises the price target to $14 per share from a prior target of $12.5. The shares have been rated Hold. Previously, the analysts had a Sell rating on the shares. The rating by the stock financial advisor at Deutsche Bank was issued on Mar 21, 2017 in a research report to their Investors and Clients.

In a different note, On Feb 21, 2017, Deutsche Bank said it Downgrades its rating on Freeport-McMoRan Inc. According to the research note, Deutsche Bank Lowers the price target to $12.5 per share from a prior target of $14. The shares have been rated ‘Sell’ by the firm. On Feb 9, 2017, JP Morgan said it Reinstates its rating on Freeport-McMoRan Inc. The shares have been rated ‘Neutral’ by the firm.

Freeport-McMoRan Inc (FCX) shares turned negative on Fridays trading session with the shares closing down -0.02 points or -0.16% at a volume of 1,08,65,643. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $12.93. The peak price level was also seen at $12.93 while the days lowest was $12.715. Finally the shares closed at $12.81. The 52-week high of the shares is $17.06 while the 52-week low is $8.76. According to the latest information available, the market cap of the company is $18,515 M.

Freeport-McMoRan Inc(FCX) last announced its earnings results on Jan 25, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $4.377B. Analysts had an estimated revenue of $4.310B. Earnings per share were $0.25. Analysts had estimated an EPS of $0.32.

Several Insider Transactions has been reported to the SEC. On Feb 17, 2017, Harry M. Iv Conger (Pres & COO FM Americas) sold 77,500 shares at $15.24 per share price.Also, 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. (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.

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