Company Update (NYSE:FCX): Glancy Prongay & Murray Commences Investigation on Behalf of Freeport-McMoRan Inc. Investors

[Business Wire] – Glancy Prongay & Murray LLP is investigating potential claims on behalf of investors of Freeport-McMoRan Inc. concerning the Company and its officers possible violations of federal securities laws. Read more on this. Freeport-McMoRan Inc. (FCX) , currently valued at $5.48B, started the session at $4.78. Looking at today’s trading action, the company’s one day range from $4.21 to $4.88 and has traded between $3.52 and $23.97 over the past 12 months. FCX shares are currently priced at 31.00x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry ’s 37.74x forward p/e ratio. In a review of the consensus earnings estimate this quarter, 13 sell-side analysts are looking at $-0.16 per share, which would be $0.00 better than the year-ago quarter and a $0.21 sequential increase. The full-year EPS estimate is $0.15 which would be a $0.23 better than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $3.70 Billion. If realized, that would be a 10.84% decrease over the year-ago quarter. More recently, Jefferies downgraded FCX from Buy to Hold (Jan 12, 2016). Previously, Macquarie downgraded FCX from Outperform to Neutral. When considering if the stock is under or overvalued, the average price target is $7.61, which is 59.21% above where the stock opened this morning. See more in (NYSE:FCX) Similar Articles: Company Update (NYSE:FCX): SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Freeport-McMoRan Inc. (FCX) Company Update: Freeport-McMoRan Copper & Gold Inc (NYSE:FCX) – Freeport-McMoRan Elects Gerald J. Ford Non-Executive Chairman and Names James R. Moffett Chairman Emeritus Market Update: Freeport-McMoRan Copper & Gold Inc (NYSE:FCX) – Freeport-McMoRan Declares Quarterly Cash Dividend on Common Stock