2016 has been a great year for Freeport-McMoRan Inc FCX. After losing 71.2 percent over 2015, the stock has managed to recuperate more than 73 percent of its value since the beginning of the year. However, top raters at the Vetr community seem to believe the rebound is far from over.
Related Link: Here's How Crowdsourced Ratings Can Beat The Market
On Wednesday, top raters at the Vetr community decided to upgrade their rating on the stock from 4.0 Stars to 5.0 Stars - out of a possible 5.0 Stars rating.
The new rating better reflects the crowd’s average price target of $13.83, which implies an upside potential of almost 17.7 percent from current valuations.
However, it should be noted that, unlike the top raters, the crowd as a whole is quite bearish. Sixty-two percent of the crowd's ratings on Freeport-McMoRan are bearish.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
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