In a report released today, Bob Brackett from Bernstein maintained a Buy rating on Freeport-McMoRan (FCX – Research Report), with a price target of $50.50. The company’s shares closed yesterday at $48.24.
Brackett covers the Energy sector, focusing on stocks such as Conocophillips, APA, and Devon Energy. According to TipRanks, Brackett has an average return of 19.0% and a 69.89% success rate on recommended stocks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Freeport-McMoRan with a $51.83 average price target, which is a 7.44% upside from current levels. In a report released yesterday, Raymond James also maintained a Buy rating on the stock with a $54.00 price target.
The company has a one-year high of $52.42 and a one-year low of $32.58. Currently, Freeport-McMoRan has an average volume of 14.24M.
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Freeport-McMoRan (FCX) Company Description:
Founded in 1987 and based in Arizona, Freeport-McMoRan, Inc. is a leading mining company, and focuses on exploring copper, gold, and molybdenum. Its portfolio of assets includes the Grasberg minerals district in Indonesia, one of the world’s largest copper and gold deposits; and significant mining operations in North America and South America, including the large-scale Morenci minerals district in Arizona and the Cerro Verde operation in Peru.
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