Company Update (NYSE:FCX): INVESTOR ALERT: Investigation of Freeport-McMoRan Inc. Announced by Law Offices of Howard G. Smith

[Business Wire] – Law Offices of Howard G. Smith announces an investigation on behalf of investors of Freeport-McMoRan Inc. concerning the Company and its officers’ alleged lack of internal controls and potential violations of the Foreign Corrupt Practices Act. Read more on this. Freeport-McMoRan Inc. (FCX) , with a current value of $5.86B, started trading this morning at $4.50. Shares have traded today between $4.33 and $4.81 per share with a one year range of $3.52 to $23.97. Priced at 41.82x this year’s forecasted earnings, FCX shares are relatively expensive compared to the industry ’s 39.78x forward p/e ratio. According to a consensus of 14 analysts, the earnings estimate of $-0.18 per share would be $0.00 better than the year-ago quarter and a $0.21 sequential increase. Investors should also note that the full-year EPS estimate of $0.11 is a $0.19 better when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $3.63 Billion. If reported, that would be a 12.53% decrease over the year-ago quarter. Recently, Jefferies downgraded FCX from Buy to Hold (Jan 12, 2016). Previously, Macquarie downgraded FCX from Outperform to Neutral. With the above information in mind, readers should note that the average price target is $7.25, which is 61.11% above where the stock opened this morning. See more in (NYSE:FCX) Similar Articles: Company Update (NYSE:FCX): Glancy Prongay & Murray Commences Investigation on Behalf of Freeport-McMoRan Inc. Investors 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
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