J.P. Morgan Sticks to Their Buy Rating for Freeport-McMoRan (FCX)
J.P. Morgan analyst Bill Peterson reiterated a Buy rating on Freeport-McMoRan yesterday and set a price target of $77.00.
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Peterson covers the Basic Materials sector, focusing on stocks such as Steel Dynamics, Constellium, and Cleveland-Cliffs. According to TipRanks, Peterson has an average return of 6.3% and a 48.06% success rate on recommended stocks.
In addition to J.P. Morgan, Freeport-McMoRan also received a Buy from Goldman Sachs’s Nick Cash in a report issued on July 8. However, on the same day, Morgan Stanley maintained a Hold rating on Freeport-McMoRan (NYSE: FCX).
Based on Freeport-McMoRan’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $6.23 billion and a net profit of $881 million. In comparison, last year the company earned a revenue of $5.55 billion and had a net profit of $346 million
Read More on FCX:
Disclaimer & DisclosureReport an Issue
- The Week That Was, The Week Ahead: Macro and Markets, July 12
- Cboe data shows mixed options sentiment in Freeport McMoRan with shares up 2.06%
- Unusually active option classes on open July 9th
- Freeport-McMoRan price target raised to $77 from $73 at JPMorgan
- Freeport-McMoRan price target raised to $80 from $74 at BofA
