Are Freeport-McMoRan (NYSE:FCX) Shares a Sell Now? CIBC Has Downgraded Stock

January 23, 2018 - By Richard Conner

 Are Freeport McMoRan (NYSE:FCX) Shares a Sell Now? CIBC Has Downgraded Stock

Investors sentiment is 1 in 2017 Q3. Its the same as in 2017Q2. It is the same, as 57 investors sold Freeport-McMoRan Inc. shares while 214 reduced holdings. only 91 funds opened positions while 181 raised stakes. 961.13 million shares or 0.14% less from 962.50 million shares in 2017Q2 were reported.

Ameriprise Financial holds 2.76M shares. Flippin Bruce Porter Incorporated stated it has 96,350 shares or 0.3% of all its holdings. Employees Retirement Of Texas, Texas-based fund reported 109,000 shares. Gamco Investors Incorporated Et Al holds 0.4% of its portfolio in Freeport-McMoRan Inc. (NYSE:FCX) for 4.64 million shares. 1.53M were accumulated by Credit Suisse Ag. 42,652 are held by Veritable Lp. 10,761 were accumulated by Sii Investments Incorporated Wi. Mitsubishi Ufj Securities Holding Com Ltd holds 1.21% or 18,000 shares. Metropolitan Life Insur New York invested in 648,811 shares. Riverpoint Capital Mgmt Limited Liability holds 28,000 shares or 0.03% of its portfolio. Parkside Comml Bank And Trust has 2,874 shares for 0.02% of their portfolio. The Florida-based Raymond James Tru Na has invested 0.03% in Freeport-McMoRan Inc. (NYSE:FCX). Nebraska-based Cwm Limited Company has invested 0% in Freeport-McMoRan Inc. (NYSE:FCX). Texas-based First Dallas Secs has invested 1.23% in Freeport-McMoRan Inc. (NYSE:FCX). Bbva Compass Fincl Bank invested in 37,748 shares or 0.03% of the stock.

Since August 21, 2017, it had 0 insider purchases, and 1 sale for $15,435 activity.

Freeport-McMoRan (NYSE:FCX) Receives a Downgrade

CIBC decreased the rating for shares of Freeport-McMoRan (NYSE:FCX) to a”Neutral” from a “Outperform”. The rating change was shared with investors in a research note earlier today.

Investors sentiment is 1 in 2017 Q3. Its the same as in 2017Q2. It is the same, as 57 investors sold Freeport-McMoRan Inc. shares while 214 reduced holdings. only 91 funds opened positions while 181 raised stakes. 961.13 million shares or 0.14% less from 962.50 million shares in 2017Q2 were reported.

Ameriprise Financial holds 2.76M shares. Flippin Bruce Porter Incorporated stated it has 96,350 shares or 0.3% of all its holdings. Employees Retirement Of Texas, Texas-based fund reported 109,000 shares. Gamco Investors Incorporated Et Al holds 0.4% of its portfolio in Freeport-McMoRan Inc. (NYSE:FCX) for 4.64 million shares. 1.53M were accumulated by Credit Suisse Ag. 42,652 are held by Veritable Lp. 10,761 were accumulated by Sii Investments Incorporated Wi. Mitsubishi Ufj Securities Holding Com Ltd holds 1.21% or 18,000 shares. Metropolitan Life Insur New York invested in 648,811 shares. Riverpoint Capital Mgmt Limited Liability holds 28,000 shares or 0.03% of its portfolio. Parkside Comml Bank And Trust has 2,874 shares for 0.02% of their portfolio. The Florida-based Raymond James Tru Na has invested 0.03% in Freeport-McMoRan Inc. (NYSE:FCX). Nebraska-based Cwm Limited Company has invested 0% in Freeport-McMoRan Inc. (NYSE:FCX). Texas-based First Dallas Secs has invested 1.23% in Freeport-McMoRan Inc. (NYSE:FCX). Bbva Compass Fincl Bank invested in 37,748 shares or 0.03% of the stock.

Since August 21, 2017, it had 0 insider purchases, and 1 sale for $15,435 activity.

Freeport-McMoRan Inc. (NYSE:FCX) Ratings Coverage

Among 23 analysts covering Freeport-McMoran Copper & Gold (NYSE:FCX), 4 have Buy rating, 5 Sell and 14 Hold. Therefore 17% are positive. Freeport-McMoran Copper & Gold has $29 highest and $5 lowest target. $15.58’s average target is -22.06% below currents $19.99 stock price. Freeport-McMoran Copper & Gold had 93 analyst reports since July 28, 2015 according to SRatingsIntel. The firm has “Buy” rating by Jefferies given on Monday, July 10. The stock has “Hold” rating by Stifel Nicolaus on Tuesday, August 29. On Monday, May 2 the stock rating was maintained by Barclays Capital with “Equal Weight”. The company was maintained on Friday, July 24 by Cowen & Co. Berenberg downgraded the stock to “Sell” rating in Wednesday, November 30 report. FBR Capital maintained the shares of FCX in report on Monday, May 1 with “Mkt Perform” rating. The firm has “Neutral” rating given on Thursday, September 14 by FBR Capital. The rating was maintained by Deutsche Bank on Friday, July 31 with “Buy”. Macquarie Research downgraded the shares of FCX in report on Friday, January 8 to “Neutral” rating. The rating was maintained by Macquarie Research on Saturday, August 15 with “Outperform”.

The stock increased 0.15% or $0.03 during the last trading session, reaching $19.99. About 17.64M shares traded. Freeport-McMoRan Inc. (NYSE:FCX) has risen 6.83% since January 23, 2017 and is uptrending. It has underperformed by 9.87% the S&P500.

Analysts await Freeport-McMoRan Inc. (NYSE:FCX) to report earnings on January, 24. They expect $0.43 EPS, up 72.00 % or $0.18 from last year’s $0.25 per share. FCX’s profit will be $622.46 million for 11.62 P/E if the $0.43 EPS becomes a reality. After $0.34 actual EPS reported by Freeport-McMoRan Inc. for the previous quarter, Wall Street now forecasts 26.47 % EPS growth.

Freeport-McMoRan Inc. engages in the mining of mineral properties in the United States, Indonesia, Peru, and Chile. The company has market cap of $28.94 billion. It primarily explores for copper concentrate, copper cathode, copper rod, gold, molybdenum, silver, and other metals, as well as gas and oil. It has a 27.05 P/E ratio. The companyÂ’s portfolio of assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde and El Abra mines in South America.

More important recent Freeport-McMoRan Inc. (NYSE:FCX) news were published by: Fool.com which released: “Why Freeport-McMoRan Inc. Stock Exploded 36% Higher in December” on January 05, 2018, also Fool.com published article titled: “Here’s Where Things Went Wrong for Freeport-McMoRan Inc. in 2017”, Seekingalpha.com published: “3 Reasons To Buy Freeport-McMoRan” on January 05, 2018. More interesting news about Freeport-McMoRan Inc. (NYSE:FCX) was released by: Fool.com and their article: “Is Freeport-McMoRan Inc. a Buy?” with publication date: January 13, 2018.

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