Freeport Mcmoran Copper & Gold Inc (NYSE:FCX) 2019 Q2 Sentiment Report

Freeport-McMoRan Inc. (NYSE:FCX) Logo

Sentiment for Freeport Mcmoran Copper & Gold Inc (NYSE:FCX)

Freeport Mcmoran Copper & Gold Inc (NYSE:FCX) institutional sentiment is 0.92 in 2019 Q2. Its the same as in 2019Q1. The ratio is neither positive nor negative, as only 229 funds started new or increased holdings, while 250 cut down and sold equity positions in Freeport Mcmoran Copper & Gold Inc. The funds in our partner’s database reported: 1.02 billion shares, down from 1.02 billion shares in 2019Q1. Also, the number of funds holding Freeport Mcmoran Copper & Gold Inc in their top 10 holdings was flat from 4 to 4 for the same number . Sold All: 67 Reduced: 183 Increased: 166 New Position: 63.

Freeport-McMoRan Inc. engages in the mining of mineral properties in the United States, Indonesia, Peru, and Chile. The company has market cap of $15.61 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 15.78 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.

The stock increased 3.76% or $0.39 during the last trading session, reaching $10.76. About 26.85 million shares traded or 41.75% up from the average. Freeport-McMoRan Inc. (NYSE:FCX) has declined 31.22% since September 13, 2018 and is downtrending. It has underperformed by 31.22% the S&P500.

Analysts await Freeport-McMoRan Inc. (NYSE:FCX) to report earnings on October, 23. They expect $0.07 earnings per share, down 80.00 % or $0.28 from last year’s $0.35 per share. FCX’s profit will be $101.57M for 38.43 P/E if the $0.07 EPS becomes a reality. After $-0.04 actual earnings per share reported by Freeport-McMoRan Inc. for the previous quarter, Wall Street now forecasts -275.00 % EPS growth.

Pacific Heights Asset Management Llc holds 6.15% of its portfolio in Freeport-McMoRan Inc. for 4.08 million shares. Contrarius Investment Management Ltd owns 8.52 million shares or 5.53% of their US portfolio. Moreover, Kingdon Capital Management L.L.C. has 3.58% invested in the company for 3.14 million shares. The New York-based Icahn Carl C has invested 1.93% in the stock. Polaris Greystone Financial Group Llc, a California-based fund reported 2.22 million shares.

Since January 1, 0001, it had 2 buys, and 0 selling transactions for $2.27 million activity.

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

Ratings analysis reveals 50% of Freeport-McMoran’s analysts are positive. Out of 2 Wall Street analysts rating Freeport-McMoran, 1 give it “Buy”, 1 “Sell” rating, while 0 recommend “Hold”. The lowest target is $1200 while the high is $18. The stock’s average target of $14 is 30.11% above today’s ($10.76) share price. FCX was included in 10 notes of analysts from March 21, 2019. Barclays Capital maintained Freeport-McMoRan Inc. (NYSE:FCX) rating on Tuesday, April 9. Barclays Capital has “Underweight” rating and $12 target. The stock has “Buy” rating by Jefferies on Monday, March 25.

More notable recent Freeport-McMoRan Inc. (NYSE:FCX) news were published by: Schaeffersresearch.com which released: “Copper Prices, Analyst Confidence Lift FCX Stock – Schaeffers Research” on September 13, 2019, also Finance.Yahoo.com with their article: “Do Directors Own Freeport-McMoRan Inc. (NYSE:FCX) Shares? – Yahoo Finance” published on June 17, 2019, Seekingalpha.com published: “Copper Bounces From The Lows: Freeport-McMoRan And Indonesia – Seeking Alpha” on September 08, 2019. More interesting news about Freeport-McMoRan Inc. (NYSE:FCX) were released by: Finance.Yahoo.com and their article: “Looking At Freeport-McMoRan Inc. (NYSE:FCX) From All Angles – Yahoo Finance” published on July 23, 2019 as well as Businesswire.com‘s news article titled: “Freeport-McMoRan Completes Sale of $1.2 Billion of Senior Notes and Announces Results of Offers to Purchase Certain Outstanding Senior Notes – Business Wire” with publication date: August 15, 2019.

Freeport-McMoRan Inc. (NYSE:FCX) Institutional Positions Chart

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