Freeport-McMoRan Target of Unusually Large Options Trading (FCX)

Gladys Abbott
May 19, 2017

Stock is now moving with a negative distance from the 200 day simple moving average of approximately -11.28%, and has a poor year to date (YTD) performance of -13.34% which means the stock is constantly subtracting to its value from the previous fiscal year end price.

Other large investors have also recently added to or reduced their stakes in the company. Northern Trust Corp increased its position in shares of Freeport-McMoRan by 2.3% in the third quarter.

The company's consensus rating on Reuter's scale remained unchanged from 2.85 to 2.85 during a month. ARP Americas LLC bought a new position in shares of Freeport-McMoRan during the first quarter worth about $150,000. FMR LLC raised its stake in shares of Freeport-McMoRan by 33.2% in the fourth quarter. Stock traders bought 41,679 call options on the stock. A rating of 4 or 5 would represent a Sell recommendation. TCW Group Inc. now owns 4,489,511 shares of the natural resource company's stock worth $59,217,000 after buying an additional 4,399,211 shares during the period. State Street Corp increased its position in shares of Freeport-McMoRan by 4.6% in the first quarter. Checchi Capital Advisers LLC now owns 10,897 shares of the natural resource company's stock valued at $118,000 after buying an additional 2,525 shares in the last quarter.

Freeport-McMoRan Inc. (NYSE:FCX) share price decreased in the last trading session with a previous 52-week high of $17.06.

While looking at the Stock's Performance, Freeport-McMoRan Inc. now shows a Weekly Performance of -2.47%, where Monthly Performance is -8.34%, Quarterly performance is -25.63%, 6 Months performance is -17.89% and yearly performance percentage is -0.7%. The stock stands -0.90% below the average-price of 50 days and 0.36% compared with the SMA 20. The firm has a market cap of $17.08 billion, a P/E ratio of 63.128 and a beta of 2.49. Its last 5-Year EPS growth stands at -36.80%; with earnings growth of 105.00% yoy. They have a dividend yield of 0.00% and a 5 year dividend growth rate of -15.89%. Freeport-McMoRan had a negative net margin of 28.09% and a positive return on equity of 3.52%. Revenue for the quarter also did not kill consensus, coming in at $3.34B, compared to the consensus of 3.46B.

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Last time, the company failed Wall Street by reporting EPS of $0.15, smashing the consensus of $0.16 per share. The company's quarterly revenue was down 5.3% compared to the same quarter a year ago. Analysts expect that Freeport-McMoRan Inc will post $1.07 EPS for the current year.

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An issue of Freeport-McMoRan Inc (NYSE:FCX) debt fell 1.4% as a percentage of its face value during trading on Wednesday. If you are reading this piece on another domain, it was stolen and reposted in violation of United States and worldwide trademark and copyright laws. Cowen and Company restated a "buy" rating on shares of Freeport-McMoRan in a research report on Tuesday, April 11th.

A number of equities research analysts have recently issued reports on FCX shares.

Many analysts are providing their Estimated Earnings analysis for Freeport-McMoRan Inc. and for the current quarter 17 analysts have projected that the stock could give an Average Earnings estimate of $0.24/share. Jefferies Group LLC reissued a "buy" rating and issued a $19.00 price objective on shares of Freeport-McMoRan in a report on Thursday, January 26th. TheStreet raised shares of Freeport-McMoRan from a "d" rating to a "c-" rating in a research note on Friday, January 27th. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $19.00 price target on shares of Freeport-McMoRan in a research note on Saturday, January 28th.

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