Stock Update (NYSE:FCX): Freeport-McMoRan Inc Declares Quarterly Cash Dividend on Common Stock

Freeport-McMoRan Inc (NYSE:FCX) declared a cash dividend of $0.05 per share payable on November 2, 2015 to holders of record as of October 15, 2015 for its common stock.

FCX is a premier U.S.-based natural resources company with an industry-leading global portfolio of mineral assets, significant oil and gas resources and a growing production profile. FCX is the world’s largest publicly traded copper producer.

FCX’s portfolio of assets includes the Grasberg minerals district in Indonesia, one of the world’s largest copper and gold deposits; significant mining operations in the Americas, including the large-scale Morenci minerals district in North America and the Cerro Verde operation in South America; the Tenke Fungurume minerals district in the DRC; and significant U.S. oil and natural gas assets in the Deepwater GOM, onshore and offshore California and in the Haynesville natural gas shale, and a position in the Inboard Lower Tertiary/Cretaceous natural gas trend onshore in South Louisiana. (Original Source)

Shares of Freeport-McMoRan Copper opened today at $9.27 and are currently trading up at $9.62. FCX has a 1-year high of $32.91 and a 1-year low of $7.76. The stock’s 50-day moving average is $10.15 and its 200-day moving average is $16.42.

On the ratings front, Freeport-McMoRan has been the subject of a number of recent research reports. In a report issued on September 24, Macquarie analyst Aldo Mazzaferro maintained a Buy rating on FCX, with a price target of $18, which represents a potential upside of 94.2% from where the stock is currently trading. Separately, on September 21, Jefferies Co.’s Chris LaFemina reiterated a Buy rating on the stock and has a price target of $17.

According to, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Aldo Mazzaferro and Chris LaFemina have a total average return of -27.3% and -22.1% respectively. Mazzaferro has a success rate of 6.7% and is ranked #3638 out of 3754 analysts, while LaFemina has a success rate of 0.0% and is ranked #3542.

The street is mostly Bullish on FCX stock. Out of 8 analysts who cover the stock, 6 suggest a Buy rating and 2 recommend to Hold the stock. The 12-month average price target assigned to the stock is $19.00, which represents a potential upside of 105.0% from where the stock is currently trading.

Freeport-McMoRan Inc, formerly Freeport-McMoRan Copper & Gold, deals in the mining of copper, gold and molybdenum.

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