Freeport-McMoRan (FCX) Receives a Buy from Stifel Nicolaus

In a report released today, Ralph M. Profiti from Stifel Nicolaus maintained a Buy rating on Freeport-McMoRan, with a price target of $52.00.

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According to TipRanks, M. Profiti is a 5-star analyst with an average return of 39.1% and a 74.17% success rate. M. Profiti covers the Basic Materials sector, focusing on stocks such as Ivanhoe Mines, Barrick Mining, and Freeport-McMoRan.

In addition to Stifel Nicolaus, Freeport-McMoRan also received a Buy from Scotiabank’s Orest Wowkodaw in a report issued today. However, on the same day, Bernstein downgraded Freeport-McMoRan (NYSE: FCX) to a Hold.

Based on Freeport-McMoRan’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $5.63 billion and a net profit of $968 million. In comparison, last year the company earned a revenue of $5.88 billion and had a net profit of $274 million

Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FCX in relation to earlier this year. Last month, Stephen T. Higgins, the EVP & CAO of FCX sold 28,423.00 shares for a total of $1,363,735.54.