Previously in this series, we’ve looked at Freeport-McMoRan’s (FCX) 1Q18 earnings estimates and the key updates that markets might watch for on the company’s earnings call. In this final article of our series, we’ll see how analysts are rating Freeport ahead of its 1Q18 earnings release.
Freeport has received a “strong buy” rating from one analyst while six analysts have a “buy” rating on the stock. Thirteen analysts have rated Freeport a “hold” or some equivalent, while the remaining three analysts polled by Thomson Reuters on April 17 rate the stock a “sell.” Freeport has received a mean consensus price target of $20.57, which represents 12.4% upside over April 17 closing prices.
Other copper miners
Among copper miners, Southern Copper (SCCO) has received a “buy” rating from only one analyst while four analysts have rated the stock as a “hold.” The remaining five analysts have a “sell” or lower rating on the stock. First Quantum Minerals (FM) has received a “buy” or higher rating from 15 analysts while the remaining nine analysts polled by Thomson Reuters on April 17 rated the stock a “hold” or equivalent. Last month, some analysts downwardly revised First Quantum’s price target after the company was slapped with a massive tax demand by the Zambian government.
Antofagasta (ANTO) has received a “strong buy” rating from five analysts while four analysts have rated the stock a “buy” or equivalent. Five analysts have a “hold” rating on Antofagasta while the remaining eight analysts polled by Thomson Reuters have a “sell” or lower on the stock. Antofagasta is trading 4.4% below its consensus price target. BHP Billiton’s (BHP) price target represents a potential downside of 4.5%.
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