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Market Update (NYSE:FCX): Harwood Feffer LLP Announces Investigation of Freeport-McMoRan Inc.

[PR Newswire] – NEW YORK, Jan. 27, 2016 /PRNewswire/ — Harwood Feffer LLP ( www.hfesq.com ) is investigating potential claims against the board of directors of Freeport-McMoRan Inc. (“Freeport” or the “Company”) … Read more on this. Freeport-McMoRan Inc. (FCX) , with a current market cap of $5.53B, opened at $4.06. A quick look at the market, the company’s stock traded between $4.02 and $5.08 and has traded between $3.52 and $23.97 over the past 12 months. Priced at 38.18x this year’s forecasted earnings, FCX shares are relatively expensive compared to the industry ’s 37.74x forward p/e ratio. In a review of the consensus earnings estimate this quarter, 11 sell-side analysts are looking at $-0.10 per share, which would be $0.00 better than the year-ago quarter and a $0.21 sequential increase. Investors should also note that the full-year EPS estimate of $0.11 is a $0.19 better when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $3.93 Billion. If realized, that would be a 5.30% decrease over the year-ago quarter. More recently, Jefferies downgraded FCX from Buy to Hold (Jan 12, 2016). Previously, Macquarie downgraded FCX from Outperform to Neutral. With the above information in mind, readers should note that the average price target is $8.18, which is 101.48% above where the stock opened this morning. See more in (NYSE:FCX) Similar Articles: Company Update (NYSE:FCX): SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Freeport-McMoRan Inc. (FCX) Company Update: Freeport-McMoRan Copper & Gold Inc (NYSE:FCX) – Freeport-McMoRan Elects Gerald J. Ford Non-Executive Chairman and Names James R. Moffett Chairman Emeritus Market Update: Freeport-McMoRan Copper & Gold Inc (NYSE:FCX) – Freeport-McMoRan Declares Quarterly Cash Dividend on Common Stock
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