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Raymond James Sticks to Its Buy Rating for Freeport-McMoRan (FCX)

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Raymond James analyst Brian MacArthur maintained a Buy rating on Freeport-McMoRan (FCXResearch Report) today and set a price target of $49.00. The company’s shares closed last Tuesday at $44.85, close to its 52-week high of $46.10.

According to TipRanks.com, MacArthur is a 4-star analyst with an average return of 6.6% and a 47.0% success rate. MacArthur covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, Osisko Gold Royalties, and Teck Resources.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Freeport-McMoRan with a $42.92 average price target, a -2.2% downside from current levels. In a report issued on January 12, Johnson Rice also maintained a Buy rating on the stock with a $50.00 price target.

See Insiders’ Hot Stocks on TipRanks >>

Freeport-McMoRan’s market cap is currently $64.71B and has a P/E ratio of 16.74.

Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is neutral on the stock. Most recently, in November 2021, Donald Whitmire, the VP Controller & Financial Rptg of FCX sold 67,000 shares for a total of $2,619,030.

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.

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