Business

Freeport-McMoRan (FCX) Downgraded by Zacks Investment Research to "Hold"

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It is up 5.07% since January 13, 2017 and is downtrending. It has outperformed by 25.04% the S&P500.

Geoffrey Raynor increased its stake in Jones Energy Inc (JONE) by 4993.69% based on its latest 2017Q3 regulatory filing with the SEC. Nordea Investment Management AB now owns 57,003 shares of the natural resource company's stock worth $685,000 after purchasing an additional 746 shares in the last quarter. The institutional investor held 6.18M shares of the basic industries company at the end of 2017Q3, valued at $86.72M, up from 3.54M at the end of the previous reported quarter. U S Global Investors Inc who had been investing in Freeport for a number of months, seems to be less bullish one the $28.59 billion market cap company.

Louisiana-Pacific Corporation (NYSE:LPX)'s latest quote $28.15 $0.37 1.88% will find technical support in $27.77 a share and a breakdown below this region would be a significantly bearish signal for Louisiana-Pacific Corporation traders. About 2.31 million shares traded. Freeport-McMoRan Inc. (NYSE:FCX) has risen 6.83% since January 13, 2017 and is uptrending. It has underperformed by 9.87% the S&P500.

Media stories about Freeport-McMoRan (NYSE:FCX) have trended somewhat positive on Saturday, according to Accern Sentiment. (NYSE:FCX) to report earnings on January, 24. During the same period a year ago, the business posted ($0.02) earnings per share. After $-0.10 actual earnings per share reported by Mattersight Corporation for the previous quarter, Wall Street now forecasts 0.00% EPS growth. Wall Street is only getting more bullish on the stock, with 7 of analysts who cover FCX having a buy-equivalent rating.

Analysts await Mattersight Corporation (NASDAQ:MATR) to report earnings on February, 14. Scotiabank reiterated a hold rating and issued a $19.00 price objective on shares of Freeport-McMoRan in a report on Monday, January 8th. Goldman Sachs maintained it with "Conviction Buy" rating and $91 target in Friday, March 18 report. The rating was upgraded by Barclays Capital to "Hold" on Friday, January 5. Jefferies upgraded the stock to "Buy" rating in Tuesday, May 17 report. The firm earned "Equal-Weight" rating on Wednesday, November 8 by Stephens. $88,253 worth of stock was sold by REINEMUND STEVEN on Friday, August 4. The stock of Tesla, Inc. As per Tuesday, August 29, the company rating was maintained by Stifel Nicolaus. Berenberg upgraded the shares of FCX in report on Wednesday, March 22 to "Hold" rating. The firm touched its 52-Week high on Obsolete and 52-Week low on Obsolete. Sigma Planning Corporation holds 0.03% or 22,466 shares in its portfolio. Musk Kimbal sold $777,887 worth of Tesla, Inc.

Since September 1, 2017, it had 1 buy, and 15 selling transactions for $45.21 million activity. A P/B ratio of less than 1.0 can indicate that a stock is undervalued, while a ratio of greater than 1.0 may indicate that a stock is overvalued. 115 funds opened positions while 384 raised stakes. First Manhattan holds 2,400 shares. Sfe Invest Counsel has 1.87% invested in General Electric Company (NYSE:GE). Royal State Bank Of Canada holds 0% of its portfolio in Mattersight Corporation (NASDAQ:MATR) for 18 shares.

BlackRock MuniYield Quality Fund, Inc. About 1.90M shares traded. Advisor Prtn Limited Liability Co, California-based fund reported 50,225 shares. Pomelo Capital Limited Liability Company holds 100,000 shares or 0.06% of its portfolio. Hap Trading Ltd Liability invested in 16,538 shares. Kistler invested in 10 shares or 0% of the stock. West Coast Fincl Llc reported 6,420 shares stake. It also increased its holding in Summit Matls Inc by 60,982 shares in the quarter, for a total of 498,107 shares, and has risen its stake in National Cinemedia Inc (NASDAQ:NCMI). Dekabank Deutsche Girozentrale has 11,548 shares. (NASDAQ:TSLA). Cubist Systematic Strategies Ltd owns 2,953 shares.

Investors sentiment is 1 in Q3 2017. Its the same as in 2017Q2.

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Several hedge funds and other institutional investors have recently bought and sold shares of the stock. 275.40 million shares or 0.11% more from 275.10 million shares in 2017Q2 were reported. Weatherly Asset Mgmt Limited Partnership owns 81,249 shares or 0.3% of their USA portfolio.

Louisiana-Pacific Corporation (NYSE:LPX) has accumulated 0.71% over the course of one week.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Wednesday, October 25th.

The stock decreased 0.65% or $0.13 during the last trading session, reaching $19.75. Blb&B Advsrs Ltd Liability accumulated 90,628 shares. 589.78 million shares or 2.68% less from 606.01 million shares in 2017Q2 were reported. The difference between the actual and expected EPS is $-0.19 a share with a surprise factor of -18.4%. BMO Capital Markets maintained Freeport-McMoRan Inc. Hbk Investments Lp stated it has 1.23 million shares. (NYSE:LOW). Palladium Prns Ltd Limited Liability Company holds 4,204 shares. Sumitomo Mitsui has invested 0.09% of its portfolio in Freeport-McMoRan Inc. (NYSE:FCX). Tyrus Cap Sam holds 0.66% or 600,000 shares in its portfolio. This works out to a net decrease in ownership of 511416 shares, and suggests that institutions are feeling bearish about the stock.

FCX has been the subject of a number of analyst reports. Therefore 22% are positive. Stratasys had 55 analyst reports since July 22, 2015 according to SRatingsIntel. The rating was maintained by Jefferies on Thursday, September 28 with "Hold". The firm earned "Hold" rating on Monday, May 1 by BMO Capital Markets. Citigroup initiated Freeport-McMoRan Inc. (NYSE:FCX) has "Mkt Perform" rating given on Thursday, December 10 by FBR Capital. The rating was maintained by RBC Capital Markets with "Buy" on Wednesday, August 23. UBS maintained Target Corporation (NYSE:TGT) rating on Thursday, November 19. CIBC initiated coverage on shares of Freeport-McMoRan in a research note on Friday, September 15th. (NYSE:FCX). Hbk LP holds 1.23M shares or 0.14% of its portfolio. The company's stock had a trading volume of 14,186,849 shares, compared to its average volume of 20,040,000. The stock has "Neutral" rating by PiperJaffray on Monday, October 31.

Since August 21, 2017, it had 0 insider buys, and 1 insider sale for $15,435 activity.

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