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Following Earnings Miss, Vetr Downgrades Freeport-McMoRan To Buy

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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.

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.

Latest Ratings for FCX

DateFirmActionFromTo
Nov 2019UpgradesNeutralBuy
Nov 2019AssumesOverweight
Oct 2019MaintainsMarket Perform

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View the Latest Analyst Ratings

Posted-In: VetrDowngrades Price Target Crowdsourcing Analyst Ratings

 

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