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How Do Analysts Rate Freeport after Its 4Q16 Earnings?

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Feb. 1 2017, Published 1:22 p.m. ET

Analysts’ ratings

Freeport-McMoRan (FCX) released its 4Q16 earnings on January 25, 2017. Generally, analysts revise their target prices and recommendations after a company’s earnings release to reflect the earnings and the outlook provided by the company’s management. 

In this article, we’ll take a look at analysts’ ratings for Freeport after its 4Q16 earnings release.

According to consensus estimates compiled by Thomson Reuters, Freeport has a mean one-year price target of $14.47, representing a 13.0% downside over its closing price on January 31, 2017. In contrast, Freeport carried a one-year price target of $13.85 on January 24, one day before its earnings release.

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Recommendation changes

Of the 20 analysts surveyed by Thomson Reuters, only three have recommended Freeport-McMoRan stock as a “buy” or equivalent, while four have recommended a “sell” or equivalent on the stock. A total of 65% of analysts have recommended “holds” on the stock.

While some analysts have raised Freeport’s target price following its earnings release, there’s been no change in recommendations. The stock had similar recommendations prior to its earnings release.

Peer companies

Looking at other copper producers (BHP) (RIO), Southern Copper (SCCO) has “buy” or equivalent ratings from 19% of analysts surveyed by Thomson Reuters, while 31% of analysts rate it as a “sell” or equivalent. Teck Resources (TCK) has received “buy” or equivalent ratings from 74% of analysts, while 10% of analysts rate it as a “sell” or equivalent.

In the coming parts of the series, we’ll explore Freeport’s 4Q16 earnings in detail. Let’s begin by analyzing Freeport’s production profile in the next article.

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