Companies in the Materials sector have received a lot of coverage today as analysts weigh in on Freeport-McMoRan (FCX) and Vale SA (VALE).
Freeport-McMoRan (FCX)
In a report issued on January 6, Matt Murphy from Barclays maintained a Hold rating on Freeport-McMoRan, with a price target of $24.00. The company’s shares closed last Thursday at $31.17.
According to TipRanks.com, Murphy is a 4-star analyst with an average return of 15.5% and a 66.7% success rate. Murphy covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, First Quantum Minerals, and Hudbay Minerals.
Freeport-McMoRan has an analyst consensus of Moderate Buy, with a price target consensus of $26.67.
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Vale SA (VALE)
Barclays analyst Amos Fletcher maintained a Buy rating on Vale SA on January 6 and set a price target of $19.00. The company’s shares closed last Thursday at $18.93.
Fletcher has an average return of 9.8% when recommending Vale SA.
According to TipRanks.com, Fletcher is ranked #6763 out of 7196 analysts.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Vale SA with a $20.92 average price target, implying a 13.8% upside from current levels. In a report issued on January 4, Jefferies also maintained a Buy rating on the stock with a $24.00 price target.
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