The Vetr crowd downgraded its rating for Freeport-McMoRan Inc (NYSE:FCX) on Wednesday, from 5 stars (Strong Buy), issued two weeks ago, to 4 stars (Buy). Crowd sentiment at the time of the downgrade was still largely positive, with 92 percent of Vetr user ratings bullish.
Share price in the mining company rose by nearly 9 percent following the release of its first quarter earnings on April 25. The report showed the company posted Q1 revenue of $3.341 billion, well below the estimated $3.61 billion, with EPS of $0.15 compared to an estimated $0.19.
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By today's market close, Freeport-McMoran was trading at $13.50.
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Currently, the Vetr crowd's average target price is up at $14.50, which is above the average analyst target price of $13.43. Less than 2 percent of Vetr users are holding FCX in their watch lists.
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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.