Adjusted loss was wider than the Zacks Consensus Estimate. Ever since 2013, the company looked like it was riding the metal price wave higher but with the decline of metals such as gold, the time was ripe for the company to incorporate energy exposure to that it could diversify risk. “A still soft global economy is weighing on the copper market”.
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A recent stock analyst activity consisted of Nomura downgrading their Neutral rating to Reduce on March 20. The rating is determined on a consensus basis from analysts tracked by Zacks Research.
Shares of Freeport-McMoran, Inc. Of those twenty-one, twelve have a Buy rating, eight have a Hold rating and one has a Sell rating.
Freeport-McMoRan (NYSE:FCX) opened at 15.05 on Tuesday. Without any concrete progressive signs for recovery, investors of Freeport-McMoRan (NYSE:FCX) might not be confident that the stock can bounce back in the future from its losses. The 50-Day Moving Average price is $18.85 and the 200 Day Moving Average price is recorded at $19.99.
Q1 results of the company had it bad too with the stock suffering due to poor market conditions.
Freeport-McMoRan (NYSE:FCX) traded down 4.53% during mid-day trading on Monday, hitting $15.16.
For 2QFY15, earningswhispers.com suggests Under Armour would report EPS of $0.06, beating the Street by $0.01. During the same quarter in the prior year, the company posted $0.48 earnings per share. S&P 500 has rallied 7.3% during the last 52-weeks. Analysts are predicting that Freeport-McMoran, Inc. This represents a $0.64 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date is Monday, July 13th. The number of analysts agreeing with this consensus is 11. Analysts at Jefferies Group reiterated a buy rating and set a $28.00 price target on shares of Freeport-McMoRan in a research note on Monday, May 18th. A total of 60,000 shares were purchased at a price of $20.52 per share. The Analysts at the ratings agency announces the price target to $29 per share. The brokerage firm analysts covering Freeport-McMoran, Inc.
Cash totaled $466 million as of June 30, Freeport said. The company received an average rating of 1.88 from 12 analysts. The shares were purchased at an average cost of $20.52 per share, with a total value of $1,231,200.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
The acquisitions provided the Phoenix-based mining company with sizable assets in the then-booming U.S. oil- and natural-gas-production business. The company’s portfolio of assets includes the Grasberg minerals district in Indonesia, one of the world’s largest copper and gold deposits, significant mining operations in North and South America, the Tenke Fungurume (Tenke) minerals district in the Democratic Republic of Congo (DRC) in Africa and significant oil and natural gas assets in North America. The Company has seven operating copper mines in North America, including Morenci, Bagdad, Safford, Sierrita and Miami in Arizona, and Chino and Tyrone in New Mexico.
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The company completed the sale of its Candelaria and Ojos del Salado copper mines in Chile to Lundin Mining Corporation for $1.8 billion in November 2014.
