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Freeport-McMoRan (FCX): New Buy Recommendation for This Basic Materials Giant

In a report released today, Katja Jancic from BMO Capital maintained a Buy rating on Freeport-McMoRan, with a price target of $54.00. The company's shares closed today at $44.84. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. According to TipRanks, Jancic is a 4-star analyst with an average return of 12.5% and a 66.25% success rate. Jancic covers the Basic Materials sector, focusing on stocks such as Nucor, Algoma Steel Group, and Freeport-McMoRan. In addition to BMO Capital, Freeport-McMoRan also received a Buy from Bank of America Securities's Lawson Winder in a report issued today. However, on the same day, Morgan Stanley reiterated a Hold rating on Freeport-McMoRan (NYSE: FCX). The company has a one-year high of $52.61 and a one-year low of $27.66. Currently, Freeport-McMoRan has an average volume of 13.1M. Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FCX in relation to earlier this year. Last month, Ellie L. Mikes, the CAO of FCX sold 8,584.00 shares for a total of $343,445.84.