Vetr Top Raters Upgrade Freeport-McMoRan To 4.5-Star Stock
Shares of Freeport-McMoRan Inc (NYSE: FCX) have lost more than 40 percent since the start of 2016 and more than 80 percent over the past year.
The stock's under-performance likely led the Vetr crowd to recognize the underlying value and a more favorable risk to reward profile given its deflated price.
The Vetr crowd upgraded Freeport-McMoRan's stock rating to 4.5-stars out of a possible 5 stars. In fact, shares of Freeport-McMoRan have risen to $3.94 since the prior rating of 3.5-stars was issued just 4 days again.
Related link: Here's how crowdsourced ratings can beat the market.
In addition to an upgrade to bull territory, 88 percent of the crowd's ratings are bullish and the crowd sourced price target of $4.47 implies a potential upside of more than 15 percent.
"I can't see how that pre-market earnings report on 1/26 is going to do anything but lower this stock price," Charles Simonds, a member of the Vetr crowd opined before adding, "All FCX really has to do is make it look like they can avoid bankruptcy and I bet there will be a lot of profit potential in this stock - if they can actually avoid bankruptcy, spin-off their O&G business, and get their debt under long-term control then there might be a fortune to be made here."
However, the crowd member further suggested that prior to gaining momentum, Freeport-McMoRan's stock will "hit a new 52-week low on Tuesday."
Latest Ratings for FCX
|Nov 2016||Deutsche Bank||Downgrades||Buy||Hold|
|Oct 2016||Bank of America||Initiates Coverage On||Underperform|
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