In a report released today, David Gagliano from BMO Capital assigned a Buy rating to Freeport-McMoRan (FCX – Research Report), with a price target of $54.00. The company’s shares opened today at $46.27.
Gagliano covers the Basic Materials sector, focusing on stocks such as Steel Dynamics, Nucor, and United States Steel. According to TipRanks, Gagliano has an average return of 5.9% and a 50.47% success rate on recommended stocks.
In addition to BMO Capital, Freeport-McMoRan also received a Buy from Jefferies’s Chris LaFemina in a report issued yesterday. However, today, Citigroup maintained a Hold rating on Freeport-McMoRan (NYSE: FCX).
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FCX market cap is currently $66.66B and has a P/E ratio of 19.67.
Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FCX in relation to earlier this year. Last month, Currault Douglas N. II, the SVP & GC of FCX sold 75,000.00 shares for a total of $3,018,750.00.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Founded in 1987 and based in Arizona, Freeport-McMoRan, Inc. is a leading mining company, and focuses on exploring copper, gold, and molybdenum. Its portfolio of assets includes the Grasberg minerals district in Indonesia, one of the world’s largest copper and gold deposits; and significant mining operations in North America and South America, including the large-scale Morenci minerals district in Arizona and the Cerro Verde operation in Peru.
Read More on FCX:
- Freeport-McMoRan sees FY23 CapEx $3.4B excluding smelter projects
- Freeport-McMoRan reports Q4 EPS 52c, consensus 43c
- Unusually active option classes on open January 11th
- Freeport-McMoRan price target raised to $44 from $29 at Citi
- Freeport-McMoRan price target raised to $40 from $35 at Deutsche Bank