Freeport-McMoRan Inc (NYSE:FCX) had its price target reduced by stock analysts at RBC Capital from $10.00 to $8.00 in a report issued on Monday, Analyst Ratings Network.com reports. The firm presently has a “sector perform” rating on the natural resource company’s stock. RBC Capital’s target price would suggest a potential upside of 72.04% from the company’s current price.

Other institutional investors have recently added to or reduced their stakes in the company. Gateway Investment Advisers LLC boosted its position in Freeport-McMoRan by 17.8% in the fourth quarter. Gateway Investment Advisers LLC now owns 783,688 shares of the natural resource company’s stock worth $5,306,000 after buying an additional 118,518 shares during the last quarter. Beech Hill Advisors Inc. boosted its position in Freeport-McMoRan by 10.6% in the fourth quarter. Beech Hill Advisors Inc. now owns 40,600 shares of the natural resource company’s stock worth $275,000 after buying an additional 3,900 shares during the last quarter. Kessler Investment Group LLC boosted its position in Freeport-McMoRan by 38.0% in the fourth quarter. Kessler Investment Group LLC now owns 57,609 shares of the natural resource company’s stock worth $390,000 after buying an additional 15,857 shares during the last quarter. Nordea Investment Management AB boosted its position in Freeport-McMoRan by 921.9% in the fourth quarter. Nordea Investment Management AB now owns 321,766 shares of the natural resource company’s stock worth $2,178,000 after buying an additional 290,279 shares during the last quarter. Finally, Longer Investments Inc. purchased a new position in Freeport-McMoRan during the fourth quarter worth about $921,000.

Several other research firms also recently commented on FCX. Deutsche Bank downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating and cut their price objective for the stock from $17.00 to $11.00 in a report on Monday, October 5th. Vetr downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating and set a $4.43 price objective for the company. in a report on Tuesday, January 19th. Citigroup Inc. reaffirmed a “hold” rating on shares of Freeport-McMoRan in a report on Tuesday, October 6th. Macquarie downgraded shares of Freeport-McMoRan from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $18.00 to $7.30 in a report on Friday, January 8th. Finally, FBR & Co. cut their price objective on shares of Freeport-McMoRan from $10.00 to $8.00 and set a “market perform” rating for the company in a report on Thursday, December 10th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $14.39.

Shares of Freeport-McMoRan (NYSE:FCX) traded up 10.71% during mid-day trading on Monday, hitting $4.65. 95,981,580 shares of the company traded hands. Freeport-McMoRan has a 1-year low of $3.52 and a 1-year high of $23.97. The stock’s market capitalization is $5.37 billion. The firm’s 50 day moving average price is $5.78 and its 200-day moving average price is $9.72.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Tuesday, January 26th. The natural resource company reported ($0.02) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.15. During the same period last year, the business posted $0.25 earnings per share. The business earned $3.80 billion during the quarter, compared to the consensus estimate of $3.89 billion. The firm’s quarterly revenue was down 27.5% on a year-over-year basis. On average, equities research analysts forecast that Freeport-McMoRan will post ($0.18) EPS for the current year.

Freeport-McMoRan Inc. (NYSE:FCX) is a natural resource company with an industry portfolio of mineral assets, oil and natural gas resources, and a production profile. FCX has organized its operations into six primary divisions: North America copper mines, South America mining, Indonesia mining, Africa mining, Molybdenum mines, and United States oil and gas operations. The Company’s 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 North America. The Company is also engaged in operating copper conversion facilities located in North America, and a refinery, three rod mills and a specialty copper products facility. The Company’s Atlantic Copper smelts and refines copper concentrates and markets refined copper and precious metals in slimes.

12 Month Chart for NYSE:FCX

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