A statement released earlier today by UBS about Freeport-McMoRan (NYSE:FCX) bumps the target price to $18.00
- Updated: December 1, 2016
In a report issued 12/1/2016 UBS raised the target price of Freeport-McMoRan (NYSE:FCX) from $11.00 to $18.00 reporting a potential upside of 0.17%.
Having a price of $15.35, Freeport-McMoRan (NYSE:FCX) traded 4.10% higher on the day. The last closing price is up 36.07% from the 200-day moving average, compared to the Standard & Poor's 500 Index which has decreased -0.03% over the same time period. FCX has recorded a 50-day moving average of $11.93 and a 200-day moving average of $11.45. 1,992,200 shares of FCX traded hands, down from an average trading volume of 33,024,200
With a total market value of $0, Freeport-McMoRan has with a one year low of $3.52 and a one year high of $16.42 .
A total of 14 analysts have released a research note on Freeport-McMoRan. zero analysts rating the company a strong buy, four analysts rating the company a buy, 16 firms rating the stock a hold, 0 firms rating the stock a underperform, and finally 0 firms rating the stock a sell with a consensus target price of $10.91.
About Freeport-McMoRan (NYSE:FCX)
Freeport-McMoRan Inc. (FCX) is a natural resource company with a portfolio of mineral assets, and oil and natural gas resources. The Company's segments include the Morenci, Cerro Verde, Grasberg and Tenke Fungurume copper mines, the Rod & Refining operations and the U.S. Oil & Gas Operations. It has organized its operations into five primary divisions: North America copper mines, South America mining, Indonesia mining, Africa mining and Molybdenum mines. Its portfolio of assets includes the Grasberg minerals district in Indonesia, mining operations in North and South America, the Tenke Fungurume (Tenke) minerals district in the Democratic Republic of Congo (DRC) in Africa, and oil and natural gas assets in the United States. Its Atlantic Copper smelts and refines copper concentrates, and markets refined copper and precious metals in slimes. It has a smelter at its Miami, Arizona, mining operation, and molybdenum conversion facilities in the United States and Europe.
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